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 company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total transaction of $449,300.00. Following the completion of the transaction, the insider now owns 300,170 shares in the company, valued at approximately $13,486,638.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Revolution Medicines Price Performance

NASDAQ:RVMD traded up $0.15 during mid-day trading on Thursday, reaching $46.13. The stock had a trading volume of 602,416 shares, compared to its average volume of 1,324,907. The stock has a 50-day simple moving average of $43.66 and a two-hundred day simple moving average of $39.86. Revolution Medicines, Inc. has a 12 month low of $15.44 and a 12 month high of $48.61. The stock has a market capitalization of $7.61 billion, a PE ratio of -12.27 and a beta of 1.43.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.81 million. The business’s quarterly revenue was down 73.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.92) earnings per share. Equities analysts expect that Revolution Medicines, Inc. will post -3.35 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RVMD. SG Americas Securities LLC grew its holdings in shares of Revolution Medicines by 193.1% during the 3rd quarter. SG Americas Securities LLC now owns 31,454 shares of the company’s stock valued at $1,426,000 after purchasing an additional 20,724 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Revolution Medicines during the second quarter worth $232,000. Point72 Asset Management L.P. acquired a new position in shares of Revolution Medicines during the second quarter worth $8,846,000. Creative Planning increased its holdings in shares of Revolution Medicines by 65.2% during the second quarter. Creative Planning now owns 27,029 shares of the company’s stock worth $1,049,000 after buying an additional 10,667 shares in the last quarter. Finally, Algert Global LLC lifted its stake in shares of Revolution Medicines by 519.9% in the 2nd quarter. Algert Global LLC now owns 40,048 shares of the company’s stock valued at $1,554,000 after acquiring an additional 33,588 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Oppenheimer upped their target price on Revolution Medicines from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Wedbush reiterated an “outperform” rating and set a $59.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 8th. Jefferies Financial Group started coverage on shares of Revolution Medicines in a research note on Monday, July 8th. They issued a “buy” rating and a $63.00 price target on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, Needham & Company LLC decreased their target price on shares of Revolution Medicines from $62.00 to $61.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $54.00.

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.