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

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) 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 - Get Free Report) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.