Revolution Medicines, Inc. (NASDAQ:RVMD) CFO Sells $400,300.00 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) CFO Jack Anders sold 10,000 shares of Revolution Medicines stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $40.03, for a total value of $400,300.00. Following the transaction, the chief financial officer now owns 101,959 shares in the company, valued at approximately $4,081,418.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Jack Anders also recently made the following trade(s):

• On Monday, March 18th, Jack Anders sold 1,261 shares of Revolution Medicines stock. The stock was sold at an average price of $31.58, for a total transaction of $39,822.38.

Revolution Medicines Stock Up 2.6 %

Shares of RVMD opened at $40.20 on Friday. The company has a market capitalization of $6.85 billion, a PE ratio of -10.66 and a beta of 1.46. Revolution Medicines, Inc. has a 52-week low of $15.44 and a 52-week high of $40.21. The company has a 50-day simple moving average of $33.25 and a 200-day simple moving average of $28.34.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Monday, February 26th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.29). The business had revenue of $0.74 million during the quarter, compared to the consensus estimate of $1.20 million. The business’s revenue was down 95.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.63) earnings per share. On average, research analysts anticipate that Revolution Medicines, Inc. will post -3.18 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. lifted its holdings in Revolution Medicines by 101.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,802 shares of the company’s stock valued at $78,000 after purchasing an additional 1,409 shares in the last quarter. Manchester Capital Management LLC acquired a new stake in shares of Revolution Medicines during the 4th quarter worth $80,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Revolution Medicines in the 1st quarter worth about $104,000. Fred Alger Management LLC purchased a new position in Revolution Medicines in the third quarter valued at approximately $126,000. Finally, Federated Hermes Inc. acquired a new position in shares of Revolution Medicines during the 3rd quarter valued at $126,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RVMD has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $46.00 price target (up previously from $36.00) on shares of Revolution Medicines in a research note on Monday, April 8th. Piper Sandler assumed coverage on Revolution Medicines in a research report on Monday, March 11th. They set an “overweight” rating and a $43.00 price objective on the stock. Raymond James upgraded shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $36.00 to $48.00 in a research note on Wednesday, April 10th. Wedbush increased their price target on shares of Revolution Medicines from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Finally, Oppenheimer boosted their target price on Revolution Medicines from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Revolution Medicines currently has an average rating of “Buy” and an average target price of $41.20.

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.