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

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) insider Mark A. Goldsmith sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total transaction of $449,300.00. Following the transaction, the insider now owns 300,170 shares of the company's stock, valued at approximately $13,486,638.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Revolution Medicines Stock Up 0.3 %

RVMD traded up $0.15 during trading hours on Thursday, hitting $46.13. 602,416 shares of the company's stock were exchanged, compared to its average volume of 1,324,907. Revolution Medicines, Inc. has a 1-year low of $15.44 and a 1-year high of $48.61. The stock's 50-day moving average is $43.66 and its two-hundred day moving average is $39.86. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of -12.27 and a beta of 1.43.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.81 million. During the same period last year, the firm earned ($0.92) EPS. Revolution Medicines's quarterly revenue was down 73.8% compared to the same quarter last year. On average, equities research analysts anticipate that Revolution Medicines, Inc. will post -3.35 EPS for the current year.

Institutional Investors Weigh In On Revolution Medicines

A number of institutional investors and hedge funds have recently made changes to their positions in RVMD. Nisa Investment Advisors LLC lifted its stake in Revolution Medicines by 10.5% in 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 during the last quarter. Amalgamated Bank lifted its position in shares of Revolution Medicines by 7.4% in the second quarter. Amalgamated Bank now owns 5,272 shares of the company's stock valued at $205,000 after buying an additional 365 shares during the last quarter. Headlands Technologies LLC boosted its stake in shares of 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 acquiring an additional 885 shares during the period. Clear Harbor Asset Management LLC increased its holdings in shares of 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 acquiring an additional 1,036 shares during the last quarter. Finally, Seven Eight Capital LP raised its stake in Revolution Medicines by 1.6% in the 2nd quarter. Seven Eight Capital LP now owns 69,602 shares of the company's stock valued at $2,701,000 after acquiring an additional 1,108 shares during the period. Institutional investors own 94.34% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wedbush reissued an "outperform" rating and issued a $59.00 price target on shares of Revolution Medicines in a report on Thursday, August 8th. HC Wainwright restated a "buy" rating and issued a $56.00 price target on shares of Revolution Medicines in a report on Monday, August 12th. Oppenheimer lifted their price objective on Revolution Medicines from $45.00 to $55.00 and gave the company an "outperform" rating in a report on Tuesday, July 16th. Bank of America increased their target price on Revolution Medicines from $48.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, July 16th. Finally, Barclays lifted their price target on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an "overweight" rating in a research note on Friday, September 27th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Revolution Medicines has a consensus rating of "Buy" and an average 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.

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