Revolution Medicines (NASDAQ:RVMD) Sees Large Volume Increase

Revolution Medicines, Inc. (NASDAQ:RVMD) shares saw an uptick in trading volume on Monday . 1,478,461 shares traded hands during mid-day trading, an increase of 35% from the previous session’s volume of 1,098,901 shares.The stock last traded at $31.04 and had previously closed at $31.76.

Analyst Ratings Changes

A number of research firms have commented on RVMD. Needham & Company LLC dropped their price objective on shares of Revolution Medicines from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. Oppenheimer boosted their target price on Revolution Medicines from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Finally, HC Wainwright reissued a “buy” rating and issued a $32.00 target price on shares of Revolution Medicines in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.67.

Revolution Medicines Stock Performance

The company has a 50-day simple moving average of $30.04 and a 200-day simple moving average of $26.17. The company has a market cap of $3.40 billion, a price-to-earnings ratio of -10.11 and a beta of 1.36.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.10). Revolution Medicines had a negative return on equity of 36.46% and a negative net margin of 1,003.36%. The business had revenue of $3.82 million for the quarter, compared to analyst estimates of $1.56 million. During the same period in the prior year, the company earned ($0.82) EPS. The company’s revenue was down 58.1% on a year-over-year basis. As a group, equities research analysts forecast that Revolution Medicines, Inc. will post -3.45 EPS for the current year.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 30,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $35.05, for a total transaction of $1,051,500.00. Following the transaction, the insider now directly owns 357,386 shares in the company, valued at $12,526,379.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Mark A. Goldsmith sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $35.05, for a total value of $1,051,500.00. Following the sale, the insider now owns 357,386 shares in the company, valued at approximately $12,526,379.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jack Anders sold 20,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $35.05, for a total value of $701,000.00. Following the completion of the sale, the chief financial officer now directly owns 55,094 shares in the company, valued at approximately $1,931,044.70. The disclosure for this sale can be found here. Insiders have sold a total of 102,756 shares of company stock valued at $3,411,765 in the last ninety days. 8.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Revolution Medicines

Several large investors have recently added to or reduced their stakes in RVMD. Belpointe Asset Management LLC purchased a new position in shares of Revolution Medicines during the 4th quarter worth about $26,000. Point72 Hong Kong Ltd acquired a new position in shares of Revolution Medicines in the 2nd quarter valued at $39,000. US Bancorp DE boosted its holdings in shares of Revolution Medicines by 68.1% in the 2nd quarter. US Bancorp DE now owns 1,575 shares of the company’s stock valued at $42,000 after purchasing an additional 638 shares during the last quarter. Strs Ohio acquired a new position in shares of Revolution Medicines in the 2nd quarter valued at $45,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Revolution Medicines by 77.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,132 shares of the company’s stock valued at $68,000 after purchasing an additional 1,366 shares during the last quarter.

Revolution Medicines Company Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops therapies to inhibit frontier targets in RAS-addicted cancers. The company is developing RMC-4630, an inhibitor of SHP2, which is in Phase 1/2 clinical trial for the treatment of solid tumors, such as gynecologic tumors.