Sushil Patel Sells 2,155 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) Director Sushil Patel sold 2,155 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $37.00, for a total value of $79,735.00. Following the sale, the director now directly owns 15,700 shares in the company, valued at approximately $580,900. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Revolution Medicines Stock Down 3.6 %

RVMD opened at $36.07 on Friday. The firm has a market cap of $5.94 billion, a P/E ratio of -9.57 and a beta of 1.54. Revolution Medicines, Inc. has a 52 week low of $15.44 and a 52 week high of $38.73. The business’s fifty day simple moving average is $31.13 and its 200 day simple moving average is $27.30.

Revolution Medicines (NASDAQ:RVMD) last released 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 company had revenue of $0.74 million during the quarter, compared to analysts’ expectations of $1.20 million. During the same quarter in the previous year, the business earned ($0.63) EPS. The company’s revenue for the quarter was down 95.2% compared to the same quarter last year. As a group, equities analysts expect that Revolution Medicines, Inc. will post -3.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Revolution Medicines

Several large investors have recently added to or reduced their stakes in RVMD. Point72 Hong Kong Ltd purchased a new position in Revolution Medicines during the second quarter worth about $39,000. US Bancorp DE lifted its position in Revolution Medicines by 68.1% during the second quarter. US Bancorp DE now owns 1,575 shares of the company’s stock worth $42,000 after buying an additional 638 shares during the period. Shell Asset Management Co. purchased a new position in Revolution Medicines during the fourth quarter worth about $54,000. KBC Group NV purchased a new position in Revolution Medicines during the fourth quarter worth about $65,000. Finally, Tower Research Capital LLC TRC lifted its position in Revolution Medicines by 76.5% during the first quarter. Tower Research Capital LLC TRC now owns 3,418 shares of the company’s stock worth $74,000 after buying an additional 1,481 shares during the period. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RVMD has been the topic of several research analyst reports. Raymond James raised Revolution Medicines from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $36.00 to $48.00 in a research note on Wednesday. Wedbush boosted 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. Piper Sandler initiated coverage on Revolution Medicines in a research note on Monday, March 11th. They set an “overweight” rating and a $43.00 price target on the stock. Bank of America upgraded Revolution Medicines from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $31.00 to $34.00 in a research report on Friday, January 5th. Finally, Oppenheimer increased their target price on Revolution Medicines from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Friday. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Revolution Medicines currently has a consensus rating of “Buy” and an average target price of $41.20.

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.