Insider Selling: Revolution Medicines, Inc. (NASDAQ:RVMD) Insider Sells 16,666 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Stephen Michael Kelsey sold 16,666 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $49.49, for a total value of $824,800.34. Following the sale, the insider now owns 264,408 shares in the company, valued at approximately $13,085,551.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Revolution Medicines Price Performance

Shares of RVMD stock traded up $1.43 during trading hours on Wednesday, reaching $50.42. The company had a trading volume of 1,055,089 shares, compared to its average volume of 1,312,464. Revolution Medicines, Inc. has a 1-year low of $15.44 and a 1-year high of $51.00. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of -13.46 and a beta of 1.43. The company has a 50 day moving average of $44.35 and a 200 day moving average of $41.03.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, August 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The business had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $0.81 million. The company’s revenue was down 73.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.92) EPS. As a group, sell-side analysts forecast that Revolution Medicines, Inc. will post -3.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RVMD. JPMorgan Chase & Co. decreased their target price on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Bank of America increased their price objective 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. 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. Barclays raised their price target on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $61.00 price objective on shares of Revolution Medicines in a report on Monday, October 7th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $54.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in Revolution Medicines by 55.8% in the third 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 period. Nisa Investment Advisors LLC lifted its holdings in shares of Revolution Medicines by 10.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after purchasing an additional 320 shares in the last quarter. Amalgamated Bank grew its position in shares of Revolution Medicines by 7.4% in the 2nd quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock valued at $205,000 after purchasing an additional 365 shares during the period. Headlands Technologies LLC increased its stake in Revolution Medicines by 140.9% during the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after purchasing an additional 885 shares in the last quarter. Finally, Clear Harbor Asset Management LLC raised its holdings in Revolution Medicines by 10.2% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 11,224 shares of the company’s stock worth $436,000 after buying an additional 1,036 shares during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.

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.