Revolution Medicines (NASDAQ:RVMD) Trading Down 4.2% on Insider Selling

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) dropped 4.2% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $38.37 and last traded at $38.53. Approximately 888,002 shares were traded during trading, a decline of 34% from the average daily volume of 1,354,194 shares. The stock had previously closed at $40.20.

Specifically, General Counsel Jeff Cislini sold 1,252 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $31.58, for a total value of $39,538.16. Following the completion of the transaction, the general counsel now owns 55,874 shares of the company’s stock, valued at approximately $1,764,500.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, General Counsel Jeff Cislini sold 1,252 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $39,538.16. Following the sale, the general counsel now directly owns 55,874 shares in the company, valued at approximately $1,764,500.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Michael Kelsey sold 2,123 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $31.58, for a total value of $67,044.34. Following the completion of the transaction, the insider now owns 270,909 shares of the company’s stock, valued at $8,555,306.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,705 shares of company stock worth $1,031,049. 8.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RVMD. Piper Sandler initiated coverage on shares of Revolution Medicines in a report on Monday, March 11th. They issued an “overweight” rating and a $43.00 price target on the stock. Wedbush increased their target price on Revolution Medicines from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $46.00 target price (up previously from $36.00) on shares of Revolution Medicines in a research note on Monday, April 8th. Oppenheimer raised their target price on Revolution Medicines from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Finally, Raymond James raised shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $36.00 to $48.00 in a research note on Wednesday, April 10th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Revolution Medicines currently has an average rating of “Buy” and an average target price of $41.20.

Revolution Medicines Stock Down 2.9 %

The firm has a market capitalization of $6.66 billion, a PE ratio of -10.36 and a beta of 1.46. The business’s 50-day moving average price is $33.42 and its 200-day moving average price is $28.37.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Monday, February 26th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.29). The company had revenue of $0.74 million during the quarter, compared to analyst estimates of $1.20 million. During the same period in the previous year, the company earned ($0.63) earnings per share. The business’s revenue was down 95.2% compared to the same quarter last year. On average, analysts anticipate that Revolution Medicines, Inc. will post -3.18 EPS for the current fiscal year.

Institutional Trading of Revolution Medicines

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings in Revolution Medicines by 2.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 420,366 shares of the company’s stock valued at $11,636,000 after buying an additional 8,825 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Revolution Medicines by 15.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,685 shares of the company’s stock valued at $462,000 after acquiring an additional 2,199 shares in the last quarter. Strs Ohio grew its stake in Revolution Medicines by 270.6% in the third quarter. Strs Ohio now owns 6,300 shares of the company’s stock valued at $174,000 after acquiring an additional 4,600 shares during the period. TD Asset Management Inc increased its position in shares of Revolution Medicines by 106.2% during the third quarter. TD Asset Management Inc now owns 271,824 shares of the company’s stock worth $7,524,000 after acquiring an additional 140,012 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Revolution Medicines by 101.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,802 shares of the company’s stock worth $78,000 after acquiring an additional 1,409 shares during the last quarter. Institutional investors own 94.34% of the company’s stock.

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.