Revolution Medicines, Inc. (NASDAQ:RVMD) Insider Mark A. Goldsmith Sells 11,714 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark A. Goldsmith sold 11,714 shares of Revolution Medicines stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $531,815.60. Following the sale, the insider now directly owns 325,056 shares of the company’s stock, valued at approximately $14,757,542.40. The trade was a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Revolution Medicines Stock Down 4.8 %

Revolution Medicines stock opened at $42.97 on Thursday. The stock has a market cap of $7.23 billion, a PE ratio of -11.97 and a beta of 1.40. Revolution Medicines, Inc. has a 12-month low of $25.60 and a 12-month high of $62.40. The business’s 50-day moving average price is $52.10 and its two-hundred day moving average price is $46.03.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter in the prior year, the company earned ($0.99) EPS. As a group, analysts expect that Revolution Medicines, Inc. will post -3.5 earnings per share for the current year.

Wall Street Analyst Weigh In

RVMD has been the subject of a number of research reports. Barclays lifted their target price on Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Wedbush reissued an “outperform” rating and issued a $70.00 price objective on shares of Revolution Medicines in a report on Monday, December 2nd. HC Wainwright raised their target price on shares of Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Oppenheimer lifted their price target on shares of Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $68.00 price target on shares of Revolution Medicines in a research report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $63.67.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings 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 in the last quarter. Quarry LP acquired a new stake in shares of Revolution Medicines during the third quarter valued at about $82,000. Values First Advisors Inc. acquired a new stake in shares of Revolution Medicines during the third quarter valued at about $93,000. KBC Group NV grew its holdings in shares of Revolution Medicines by 12.9% during the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after purchasing an additional 368 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Revolution Medicines by 10.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after buying an additional 320 shares during the period. 94.34% of the stock is currently owned by institutional investors and hedge funds.

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.