Insider Selling: Revolution Medicines, Inc. (NASDAQ:RVMD) General Counsel Sells 2,000 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) General Counsel Jeff Cislini sold 2,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $38.47, for a total value of $76,940.00. Following the completion of the sale, the general counsel now owns 49,487 shares in the company, valued at $1,903,764.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Revolution Medicines Stock Performance

NASDAQ RVMD opened at $38.53 on Friday. The stock’s 50-day moving average price is $38.28 and its two-hundred day moving average price is $32.75. Revolution Medicines, Inc. has a 1 year low of $15.44 and a 1 year high of $41.21.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.05. The company’s revenue was down 100.0% on a year-over-year basis. During the same period last year, the company posted ($0.72) EPS. As a group, equities analysts expect that Revolution Medicines, Inc. will post -3.12 earnings per share for the current fiscal year.

Institutional Trading of Revolution Medicines

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in Revolution Medicines by 40.8% during the 4th quarter. Wellington Management Group LLP now owns 14,882,086 shares of the company’s stock worth $426,818,000 after buying an additional 4,309,611 shares during the period. Vanguard Group Inc. grew its stake in Revolution Medicines by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 14,757,112 shares of the company’s stock valued at $475,622,000 after acquiring an additional 122,721 shares in the last quarter. Baker BROS. Advisors LP grew its stake in Revolution Medicines by 46.6% during the 1st quarter. Baker BROS. Advisors LP now owns 7,549,249 shares of the company’s stock valued at $243,312,000 after acquiring an additional 2,400,592 shares in the last quarter. Farallon Capital Management LLC grew its stake in Revolution Medicines by 11.4% during the 1st quarter. Farallon Capital Management LLC now owns 7,507,872 shares of the company’s stock valued at $241,979,000 after acquiring an additional 771,018 shares in the last quarter. Finally, BVF Inc. IL grew its stake in Revolution Medicines by 50.2% during the 4th quarter. BVF Inc. IL now owns 5,981,212 shares of the company’s stock valued at $171,541,000 after acquiring an additional 2,000,000 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on RVMD shares. Piper Sandler started coverage on Revolution Medicines in a report on Monday, March 11th. They set an “overweight” rating and a $43.00 price target on the stock. Wedbush raised their price target on Revolution Medicines from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Needham & Company LLC reissued a “buy” rating and set a $46.00 price target on shares of Revolution Medicines in a report on Thursday, May 9th. Oppenheimer raised their price target on Revolution Medicines from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Finally, Raymond James raised Revolution Medicines from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $36.00 to $48.00 in a report on Wednesday, April 10th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $43.20.

About Revolution Medicines

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.