Mark A. Goldsmith Sells 7,500 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark A. Goldsmith sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $35.48, for a total transaction of $266,100.00. Following the transaction, the insider now directly owns 452,879 shares of the company’s stock, valued at approximately $16,068,146.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Revolution Medicines Stock Performance

Shares of RVMD opened at $36.07 on Friday. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of -9.57 and a beta of 1.54. Revolution Medicines, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $38.73. The firm has a 50 day moving average price of $31.13 and a 200-day moving average price of $27.30.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Monday, February 26th. The company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.29). The firm had revenue of $0.74 million for the quarter, compared to analysts’ expectations of $1.20 million. The business’s revenue was down 95.2% on a year-over-year basis. During the same period last year, the firm posted ($0.63) EPS. As a group, equities research analysts predict that Revolution Medicines, Inc. will post -3.17 earnings per share for the current year.

Institutional Investors Weigh In On Revolution Medicines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RVMD. MetLife Investment Management LLC raised its holdings in Revolution Medicines by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 34,256 shares of the company’s stock valued at $874,000 after buying an additional 12,643 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Revolution Medicines by 165.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 478,776 shares of the company’s stock valued at $12,214,000 after buying an additional 298,436 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Revolution Medicines by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 444,212 shares of the company’s stock valued at $11,332,000 after buying an additional 13,134 shares during the last quarter. Northern Trust Corp raised its holdings in Revolution Medicines by 12.3% during the 1st quarter. Northern Trust Corp now owns 629,849 shares of the company’s stock valued at $16,067,000 after buying an additional 68,794 shares during the last quarter. Finally, State Street Corp raised its holdings in Revolution Medicines by 3.2% during the 1st quarter. State Street Corp now owns 2,843,477 shares of the company’s stock valued at $72,537,000 after buying an additional 88,844 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RVMD has been the subject of several recent analyst reports. UBS Group initiated coverage on shares of Revolution Medicines in a research note on Wednesday, December 20th. They set a “buy” rating and a $40.00 price objective for the company. Wedbush lifted their target price on shares of Revolution Medicines from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Raymond James upgraded shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $36.00 to $48.00 in a research report on Wednesday. Bank of America upgraded shares of Revolution Medicines from a “neutral” rating to a “buy” rating and lifted their target price for the company from $31.00 to $34.00 in a research report on Friday, January 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $46.00 target price (up from $36.00) on shares of Revolution Medicines in a research report on Monday, April 8th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus 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.