Mark A. Goldsmith Sells 11,738 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) insider Mark A. Goldsmith sold 11,738 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $458,251.52. Following the transaction, the insider now directly owns 441,564 shares in the company, valued at $17,238,658.56. The trade was a 2.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Revolution Medicines Stock Performance

Shares of NASDAQ:RVMD traded down $0.38 during midday trading on Friday, hitting $38.11. 2,499,644 shares of the company's stock traded hands, compared to its average volume of 1,347,138. Revolution Medicines, Inc. has a twelve month low of $29.55 and a twelve month high of $62.40. The company has a market cap of $7.09 billion, a PE ratio of -10.62 and a beta of 1.46. The firm's fifty day moving average price is $40.55 and its two-hundred day moving average price is $45.73.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) 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). As a group, equities research analysts anticipate that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

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Institutional Trading of Revolution Medicines

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

Analyst Upgrades and Downgrades

RVMD has been the subject of several analyst reports. 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. Wedbush reaffirmed an "outperform" rating and set a $67.00 price objective on shares of Revolution Medicines in a research note on Thursday, February 27th. Guggenheim raised their target price on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. UBS Group boosted their target price on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Finally, Needham & Company LLC cut their price target on shares of Revolution Medicines from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Twelve research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently 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.