Revolution Medicines, Inc. (NASDAQ:RVMD) Insider Sells $1,051,500.00 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark A. Goldsmith sold 30,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $35.05, for a total transaction of $1,051,500.00. Following the sale, the insider now owns 357,386 shares in the company, valued at approximately $12,526,379.30. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Revolution Medicines Stock Performance

Revolution Medicines stock opened at $32.09 on Friday. Revolution Medicines, Inc. has a fifty-two week low of $17.03 and a fifty-two week high of $35.50. The stock has a market cap of $3.50 billion, a PE ratio of -10.22 and a beta of 1.36. The firm’s 50-day simple moving average is $29.33 and its 200 day simple moving average is $25.85.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.10). Revolution Medicines had a negative return on equity of 36.46% and a negative net margin of 1,003.36%. The firm had revenue of $3.82 million for the quarter, compared to analysts’ expectations of $1.56 million. During the same quarter last year, the firm posted ($0.82) earnings per share. The firm’s revenue for the quarter was down 58.1% compared to the same quarter last year. As a group, analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RVMD. Wellington Management Group LLP increased its stake in shares of Revolution Medicines by 17.5% during the 1st quarter. Wellington Management Group LLP now owns 10,425,368 shares of the company’s stock worth $225,813,000 after purchasing an additional 1,551,394 shares during the last quarter. BlackRock Inc. increased its stake in shares of Revolution Medicines by 10.6% during the 2nd quarter. BlackRock Inc. now owns 8,257,616 shares of the company’s stock worth $220,891,000 after purchasing an additional 791,842 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Revolution Medicines by 25.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,984,002 shares of the company’s stock worth $137,725,000 after purchasing an additional 1,416,990 shares during the last quarter. BVF Inc. IL increased its stake in shares of Revolution Medicines by 26.2% during the 2nd quarter. BVF Inc. IL now owns 6,255,588 shares of the company’s stock worth $167,337,000 after purchasing an additional 1,300,000 shares during the last quarter. Finally, EcoR1 Capital LLC increased its stake in shares of Revolution Medicines by 20.0% during the 1st quarter. EcoR1 Capital LLC now owns 5,352,183 shares of the company’s stock worth $115,928,000 after purchasing an additional 893,452 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Needham & Company LLC lowered their target price on shares of Revolution Medicines from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, August 9th. Oppenheimer raised their price target on shares of Revolution Medicines from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Finally, HC Wainwright restated a “buy” rating and issued a $32.00 price target on shares of Revolution Medicines in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $33.67.

About Revolution Medicines

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops therapies to inhibit frontier targets in RAS-addicted cancers. The company is developing RMC-4630, an inhibitor of SHP2, which is in Phase 1/2 clinical trial for the treatment of solid tumors, such as gynecologic tumors.