Insider Selling: Revolution Medicines, Inc. (NASDAQ:RVMD) Insider Sells 10,000 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark A. Goldsmith sold 10,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $45.88, for a total value of $458,800.00. Following the transaction, the insider now owns 311,885 shares in the company, valued at $14,309,283.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Revolution Medicines Stock Performance

Shares of RVMD traded down $1.27 on Friday, reaching $44.00. The stock had a trading volume of 1,085,142 shares, compared to its average volume of 1,435,524. Revolution Medicines, Inc. has a 12-month low of $15.44 and a 12-month high of $48.61. The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of -11.73 and a beta of 1.44. The company has a 50-day simple moving average of $41.13 and a 200-day simple moving average of $35.56.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.05. During the same period in the prior year, the business posted ($0.72) EPS. The firm’s revenue was down 100.0% on a year-over-year basis. On average, analysts expect that Revolution Medicines, Inc. will post -3.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on RVMD shares. HC Wainwright increased their price objective on Revolution Medicines from $44.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Barclays raised their price target on Revolution Medicines from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Bank of America raised their price target on Revolution Medicines from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Raymond James upgraded Revolution Medicines from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $36.00 to $48.00 in a research report on Wednesday, April 10th. Finally, Wedbush increased their price objective on Revolution Medicines from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $50.67.

Institutional Trading of Revolution Medicines

Several hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. lifted its position in shares of Revolution Medicines by 576.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,941 shares of the company’s stock valued at $543,000 after acquiring an additional 16,139 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Revolution Medicines by 34.0% in the fourth quarter. Arizona State Retirement System now owns 28,384 shares of the company’s stock valued at $814,000 after acquiring an additional 7,195 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Revolution Medicines by 45.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,405 shares of the company’s stock valued at $2,306,000 after acquiring an additional 25,160 shares in the last quarter. Strs Ohio lifted its position in shares of Revolution Medicines by 54.0% in the fourth quarter. Strs Ohio now owns 9,700 shares of the company’s stock valued at $278,000 after acquiring an additional 3,400 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new position in shares of Revolution Medicines in the fourth quarter valued at about $248,000. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Company Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company's research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.