Mark A. Goldsmith Sells 10,000 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $44.93, for a total value of $449,300.00. Following the completion of the sale, the insider now owns 300,170 shares of the company’s stock, valued at approximately $13,486,638.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Revolution Medicines Price Performance

RVMD opened at $47.32 on Friday. The business’s 50-day moving average is $43.69 and its two-hundred day moving average is $40.02. Revolution Medicines, Inc. has a 1 year low of $15.44 and a 1 year high of $48.61. The firm has a market capitalization of $7.81 billion, a PE ratio of -12.62 and a beta of 1.43.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results 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 business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.81 million. During the same quarter in the previous year, the business earned ($0.92) EPS. Revolution Medicines’s revenue was down 73.8% compared to the same quarter last year. As a group, sell-side analysts expect that Revolution Medicines, Inc. will post -3.35 EPS for the current year.

Hedge Funds Weigh In On Revolution Medicines

Several institutional investors and hedge funds have recently added to or reduced their stakes in RVMD. Headlands Technologies LLC grew its stake in Revolution Medicines by 140.9% in the first quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock valued at $49,000 after purchasing an additional 885 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Revolution Medicines during the first quarter worth about $104,000. EntryPoint Capital LLC purchased a new stake in shares of Revolution Medicines during the first quarter worth about $107,000. Nisa Investment Advisors LLC grew its stake in shares of 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 acquiring an additional 320 shares during the last quarter. Finally, Natixis purchased a new stake in shares of Revolution Medicines during the first quarter worth about $196,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Wall Street Analysts Forecast Growth

RVMD has been the subject of several research analyst reports. Oppenheimer lifted their target price on Revolution Medicines from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Bank of America lifted their target price on Revolution Medicines from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. decreased their target price on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Wedbush reiterated an “outperform” rating and set a $59.00 target price on shares of Revolution Medicines in a research report on Thursday, August 8th. Finally, Jefferies Financial Group assumed coverage on Revolution Medicines in a research report on Monday, July 8th. They set 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, Revolution Medicines presently has an average rating of “Buy” and a consensus target price of $54.00.

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.