Mark A. Goldsmith Sells 11,714 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark A. Goldsmith sold 11,714 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $45.40, for a total transaction of $531,815.60. Following the sale, the insider now owns 325,056 shares in the company, valued at $14,757,542.40. The trade was a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Revolution Medicines Stock Performance

Shares of NASDAQ:RVMD traded down $2.16 during midday trading on Wednesday, hitting $43.00. 1,019,225 shares of the stock were exchanged, compared to its average volume of 1,392,216. The business’s 50-day moving average price is $52.23 and its 200 day moving average price is $46.05. Revolution Medicines, Inc. has a 12 month low of $25.60 and a 12 month high of $62.40. The stock has a market capitalization of $7.23 billion, a price-to-earnings ratio of -11.98 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same period in the previous year, the company earned ($0.99) EPS. As a group, sell-side analysts expect that Revolution Medicines, Inc. will post -3.5 EPS for the current year.

Institutional Trading of Revolution Medicines

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lord Abbett & CO. LLC acquired a new position in Revolution Medicines during the 3rd quarter worth about $83,082,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Revolution Medicines in the third quarter worth approximately $801,000. Geode Capital Management LLC boosted its holdings in Revolution Medicines by 8.7% in the third quarter. Geode Capital Management LLC now owns 3,627,025 shares of the company’s stock valued at $164,517,000 after acquiring an additional 291,369 shares during the last quarter. Barclays PLC increased its position in Revolution Medicines by 187.1% during the 3rd quarter. Barclays PLC now owns 294,664 shares of the company’s stock valued at $13,362,000 after purchasing an additional 192,021 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in Revolution Medicines during the 3rd quarter worth approximately $247,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RVMD has been the topic of several analyst reports. Barclays increased their price target on shares of Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. HC Wainwright raised their target price on Revolution Medicines from $64.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price target on Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Guggenheim raised their price objective on Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Oppenheimer boosted their target price on Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $63.67.

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.