Revolution Medicines, Inc. (NASDAQ:RVMD) Insider Mark A. Goldsmith Sells 25,000 Shares

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark A. Goldsmith sold 25,000 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $45.05, for a total transaction of $1,126,250.00. Following the sale, the insider now owns 311,885 shares of the company’s stock, valued at $14,050,419.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Revolution Medicines Stock Up 1.7 %

NASDAQ:RVMD traded up $0.77 during mid-day trading on Tuesday, hitting $46.77. 2,816,548 shares of the stock traded hands, compared to its average volume of 1,434,556. Revolution Medicines, Inc. has a 12-month low of $15.44 and a 12-month high of $48.61. The company has a market cap of $7.72 billion, a PE ratio of -12.27 and a beta of 1.44. The business’s 50-day moving average price is $39.15 and its 200 day moving average price is $34.04.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.70) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.05. During the same quarter in the previous year, the business earned ($0.72) EPS. The business’s revenue was down 100.0% compared to the same quarter last year. Analysts anticipate that Revolution Medicines, Inc. will post -3.12 earnings per share for the current fiscal year.

Institutional Trading of Revolution Medicines

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Revolution Medicines by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,643,591 shares of the company’s stock valued at $266,935,000 after buying an additional 303,088 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Revolution Medicines by 242.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 11,282 shares of the company’s stock valued at $324,000 after buying an additional 7,987 shares during the period. Clear Harbor Asset Management LLC bought a new position in shares of Revolution Medicines during the fourth quarter valued at about $206,000. China Universal Asset Management Co. Ltd. increased its holdings 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 worth $543,000 after buying an additional 16,139 shares during the period. Finally, Arizona State Retirement System lifted its position in 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 purchasing an additional 7,195 shares during the last quarter. 94.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. HC Wainwright lifted their target price on Revolution Medicines from $44.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday. Raymond James upgraded Revolution Medicines from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $36.00 to $48.00 in a report on Wednesday, April 10th. Bank of America boosted their price target on shares of Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday. Wedbush raised their price objective on shares of Revolution Medicines from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Finally, Jefferies Financial Group started coverage on shares of Revolution Medicines in a research report on Monday, July 8th. They set a “buy” rating and a $63.00 target price for the company. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $50.50.

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.