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

by · The Markets Daily

Revolution Medicines, Inc. (NASDAQ:RVMD – Get Free Report) insider Mark A. Goldsmith sold 11,714 shares of Revolution Medicines stock in a transaction on Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $531,815.60. Following the transaction, the insider now directly owns 325,056 shares of the company’s stock, valued at approximately $14,757,542.40. This represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Revolution Medicines Stock Performance

Shares of RVMD opened at $44.06 on Friday. Revolution Medicines, Inc. has a fifty-two week low of $25.91 and a fifty-two week high of $62.40. The company has a market capitalization of $7.41 billion, a PE ratio of -12.27 and a beta of 1.40. The stock has a fifty day moving average of $51.85 and a two-hundred day moving average of $46.04.

Revolution Medicines (NASDAQ:RVMD – Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same quarter last year, the firm earned ($0.99) earnings per share. As a group, equities research analysts forecast that Revolution Medicines, Inc. will post -3.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Barclays raised their price target on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. raised their target price on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. HC Wainwright upped their price target on shares of Revolution Medicines from $64.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and set a $68.00 price objective on shares of Revolution Medicines in a research note on Tuesday, December 3rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Revolution Medicines in a research note on Monday, December 2nd. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $65.82.

Get Our Latest Stock Report on Revolution Medicines

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Farallon Capital Management LLC boosted its position in shares of Revolution Medicines by 30.0% in the second quarter. Farallon Capital Management LLC now owns 9,757,692 shares of the company’s stock worth $378,696,000 after acquiring an additional 2,249,820 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in Revolution Medicines during the third quarter worth approximately $83,082,000. Janus Henderson Group PLC boosted its holdings in shares of Revolution Medicines by 32.3% in the 3rd quarter. Janus Henderson Group PLC now owns 6,137,244 shares of the company’s stock valued at $278,280,000 after purchasing an additional 1,497,026 shares during the last quarter. Logos Global Management LP purchased a new stake in shares of Revolution Medicines during the 2nd quarter valued at $46,572,000. Finally, Hood River Capital Management LLC purchased a new stake in shares of Revolution Medicines during the 2nd quarter valued at $35,472,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

About Revolution Medicines

(Get Free Report)

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.

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