Insider Selling: Revolution Medicines, Inc. (NASDAQ:RVMD) Insider Sells $458,251.52 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark A. Goldsmith sold 11,738 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $458,251.52. Following the completion of the transaction, the insider now owns 441,564 shares of the company’s stock, valued at $17,238,658.56. The trade was a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $38.11 on Friday. Revolution Medicines, Inc. has a 1-year low of $29.55 and a 1-year high of $62.40. The business has a 50-day moving average of $40.55 and a 200-day moving average of $45.70. The company has a market capitalization of $7.09 billion, a price-to-earnings ratio of -10.62 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.11). Research analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Revolution Medicines

Several institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System boosted its position in shares of Revolution Medicines by 1.0% in the fourth quarter. California State Teachers Retirement System now owns 113,036 shares of the company’s stock worth $4,944,000 after buying an additional 1,104 shares during the period. Jefferies Financial Group Inc. acquired a new stake in Revolution Medicines during the 4th quarter valued at approximately $994,000. Polar Asset Management Partners Inc. grew its stake in Revolution Medicines by 46.0% during the 4th quarter. Polar Asset Management Partners Inc. now owns 34,600 shares of the company’s stock valued at $1,513,000 after purchasing an additional 10,900 shares in the last quarter. Mackenzie Financial Corp grew its stake in Revolution Medicines by 17.1% during the 4th quarter. Mackenzie Financial Corp now owns 6,055 shares of the company’s stock valued at $265,000 after purchasing an additional 885 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in Revolution Medicines during the 4th quarter valued at approximately $154,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on RVMD. Needham & Company LLC dropped their target price on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Stifel Nicolaus dropped their target price on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Wedbush reiterated an “outperform” rating and issued a $67.00 target price on shares of Revolution Medicines in a research note on Thursday, February 27th. Guggenheim upped their target price on Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. upped their target price on Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Revolution Medicines has an average rating of “Buy” and an average price target of $66.31.

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.