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

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

Revolution Medicines Price Performance

Shares of NASDAQ:RVMD opened at $36.07 on Friday. The company’s fifty day moving average is $31.13 and its two-hundred day moving average is $27.32. Revolution Medicines, Inc. has a 1-year low of $15.44 and a 1-year high of $38.73.

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

Hedge Funds Weigh In On Revolution Medicines

Several large investors have recently made changes to their positions in RVMD. MetLife Investment Management LLC boosted its position in shares of 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 purchasing an additional 12,643 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of 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 purchasing an additional 298,436 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of 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 purchasing an additional 13,134 shares in the last quarter. Northern Trust Corp lifted its stake in Revolution Medicines by 12.3% during the first 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 in the last quarter. Finally, State Street Corp lifted its stake in Revolution Medicines by 3.2% during the first 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 in the last quarter. Institutional investors own 94.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RVMD. Bank of America raised shares of Revolution Medicines from a “neutral” rating to a “buy” rating and raised their target price for the stock from $31.00 to $34.00 in a research report on Friday, January 5th. UBS Group began coverage on shares of Revolution Medicines in a research report on Wednesday, December 20th. They issued a “buy” rating and a $40.00 target price on the stock. Wedbush raised their target price on shares of Revolution Medicines from $41.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $46.00 price objective (up from $36.00) on shares of Revolution Medicines in a research note on Monday, April 8th. Finally, Piper Sandler started coverage on shares of Revolution Medicines in a research note on Monday, March 11th. They set an “overweight” rating and a $43.00 price objective for the company. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target 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.