Insider Selling: Revolution Medicines, Inc. (NASDAQ:RVMD) Director Sells 5,200 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) Director Barbara Weber sold 5,200 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total transaction of $249,704.00. Following the sale, the director now directly owns 13,065 shares of the company’s stock, valued at $627,381.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Revolution Medicines Stock Performance

RVMD stock opened at $49.50 on Friday. Revolution Medicines, Inc. has a 1-year low of $15.44 and a 1-year high of $50.00. The business has a 50 day simple moving average of $43.88 and a two-hundred day simple moving average of $40.45.

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

Wall Street Analyst Weigh In

RVMD has been the subject of several analyst reports. Oppenheimer increased their target price on shares of Revolution Medicines from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. HC Wainwright reissued a “buy” rating and issued a $56.00 target price on shares of Revolution Medicines in a report on Monday, August 12th. Wedbush reissued an “outperform” rating and issued a $59.00 target price on shares of Revolution Medicines in a report on Thursday, August 8th. Bank of America increased their target price on shares of Revolution Medicines from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Jefferies Financial Group initiated coverage on shares of Revolution Medicines in a report on Monday, July 8th. They issued a “buy” rating and a $63.00 target price for the company. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Revolution Medicines has a consensus rating of “Buy” and a consensus target price of $54.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Revolution Medicines by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after acquiring an additional 222 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Revolution Medicines by 27.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 46,775 shares of the company’s stock valued at $2,121,000 after acquiring an additional 10,100 shares during the last quarter. Halpern Financial Inc. bought a new position in shares of Revolution Medicines during the 3rd quarter valued at approximately $259,000. SG Americas Securities LLC boosted its position 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 acquiring an additional 20,724 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Revolution Medicines during the 2nd quarter valued at approximately $232,000. 94.34% of the stock is currently owned by institutional investors.

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.