Revolution Medicines, Inc. (NASDAQ:RVMD) Insider Mark A. Goldsmith Sells 30,000 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark A. Goldsmith sold 30,000 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.36, for a total transaction of $1,510,800.00. Following the transaction, the insider now owns 300,170 shares in the company, valued at approximately $15,116,561.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Revolution Medicines Stock Performance

Shares of RVMD opened at $48.99 on Wednesday. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of -13.46 and a beta of 1.43. The company’s 50 day simple moving average is $44.35 and its 200 day simple moving average is $41.03. Revolution Medicines, Inc. has a 1 year low of $15.44 and a 1 year high of $51.00.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on RVMD. Jefferies Financial Group began coverage on shares of Revolution Medicines in a research note on Monday, July 8th. They set a “buy” rating and a $63.00 price target on the stock. Barclays boosted their price target on shares of Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Needham & Company LLC restated a “buy” rating and set a $61.00 target price on shares of Revolution Medicines in a research report on Monday, October 7th. Wedbush restated an “outperform” rating and set a $59.00 target price on shares of Revolution Medicines in a research report on Thursday, August 8th. Finally, HC Wainwright restated a “buy” rating and set a $56.00 target price on shares of Revolution Medicines in a research report on Monday, August 12th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $54.00.

Hedge Funds Weigh In On Revolution Medicines

Several institutional investors and hedge funds have recently modified their holdings of RVMD. GAMMA Investing LLC lifted its stake in shares of Revolution Medicines by 55.8% during the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after buying an additional 222 shares during the period. Headlands Technologies LLC raised its stake in Revolution Medicines by 140.9% during the first quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after purchasing an additional 885 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Revolution Medicines during the first quarter worth approximately $104,000. EntryPoint Capital LLC purchased a new position in Revolution Medicines during the first quarter worth approximately $107,000. Finally, Nisa Investment Advisors LLC raised its stake in Revolution Medicines by 10.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock worth $131,000 after purchasing an additional 320 shares during the period. Hedge funds and other institutional investors own 94.34% of the company’s stock.

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.