Revolution Medicines (NASDAQ:RVMD) Trading Down 4.2% After Insider Selling

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) traded down 4.2% on Monday after an insider sold shares in the company. The stock traded as low as $38.37 and last traded at $38.53. 888,002 shares were traded during trading, a decline of 34% from the average session volume of 1,354,194 shares. The stock had previously closed at $40.20.

Specifically, Director Sushil Patel sold 2,155 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $37.00, for a total transaction of $79,735.00. Following the completion of the transaction, the director now directly owns 15,700 shares in the company, valued at $580,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Sushil Patel sold 2,155 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $37.00, for a total value of $79,735.00. Following the transaction, the director now directly owns 15,700 shares in the company, valued at approximately $580,900. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Jeff Cislini sold 1,500 shares of Revolution Medicines stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $30.99, for a total value of $46,485.00. Following the completion of the transaction, the general counsel now directly owns 54,374 shares of the company’s stock, valued at $1,685,050.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,705 shares of company stock valued at $1,031,049. 8.50% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Revolution Medicines Stock Down 2.9 %

The firm has a 50-day moving average of $33.42 and a two-hundred day moving average of $28.37. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of -10.36 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Monday, February 26th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.29). The firm had revenue of $0.74 million for the quarter, compared to the consensus estimate of $1.20 million. The firm’s revenue was down 95.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.63) EPS. As a group, sell-side analysts predict that Revolution Medicines, Inc. will post -3.18 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Manchester Capital Management LLC bought a new position in Revolution Medicines during the fourth quarter worth about $80,000. China Universal Asset Management Co. Ltd. lifted its stake in Revolution Medicines by 101.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,802 shares of the company’s stock valued at $78,000 after acquiring an additional 1,409 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Revolution Medicines in the first quarter valued at approximately $104,000. Fred Alger Management LLC bought a new stake in Revolution Medicines in the 3rd quarter valued at $126,000. Finally, Federated Hermes Inc. acquired a new stake in shares of Revolution Medicines during the 3rd quarter worth about $126,000. 94.34% of the stock is owned by institutional investors.

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.