Mark A. Goldsmith Sells 11,738 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark A. Goldsmith sold 11,738 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $458,251.52. Following the completion of the sale, the insider now directly owns 441,564 shares of the company’s stock, valued at $17,238,658.56. This represents a 2.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Revolution Medicines Price Performance

Shares of RVMD stock opened at $38.49 on Friday. The firm has a market cap of $7.16 billion, a P/E ratio of -10.72 and a beta of 1.46. Revolution Medicines, Inc. has a 1-year low of $29.55 and a 1-year high of $62.40. The firm’s 50-day simple moving average is $40.63 and its 200-day simple moving average is $45.73.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). Analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RVMD has been the subject of several research analyst reports. UBS Group increased their target price on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. HC Wainwright increased their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Guggenheim increased their target price on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Needham & Company LLC lowered their target price on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Stifel Nicolaus lowered their target price on shares of Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $66.31.

Hedge Funds Weigh In On Revolution Medicines

Several large investors have recently added to or reduced their stakes in RVMD. IFP Advisors Inc acquired a new position in Revolution Medicines during the fourth quarter worth about $34,000. Quarry LP acquired a new stake in Revolution Medicines during the 3rd quarter worth about $82,000. Sterling Capital Management LLC boosted its position in Revolution Medicines by 588.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock worth $86,000 after acquiring an additional 1,672 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Revolution Medicines by 368.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock valued at $90,000 after buying an additional 1,613 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Revolution Medicines during the 4th quarter valued at about $104,000. 94.34% of the stock is currently 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.