Insider Selling: Revolution Medicines, Inc. (NASDAQ:RVMD) CFO Sells 1,864 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) CFO Jack Anders sold 1,864 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $72,770.56. Following the sale, the chief financial officer now owns 115,006 shares of the company’s stock, valued at approximately $4,489,834.24. This represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Revolution Medicines Stock Performance

Shares of RVMD traded up $0.59 during mid-day trading on Wednesday, reaching $38.75. The company had a trading volume of 1,288,279 shares, compared to its average volume of 1,347,713. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of -10.79 and a beta of 1.46. The firm has a 50-day moving average price of $40.86 and a 200 day moving average price of $45.83. Revolution Medicines, Inc. has a 52 week low of $29.55 and a 52 week high of $62.40.

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

Institutional Trading of Revolution Medicines

A number of institutional investors and hedge funds have recently bought and sold shares of the company. IFP Advisors Inc bought a new position in shares of Revolution Medicines in the fourth quarter worth approximately $34,000. Quarry LP purchased a new position in Revolution Medicines in the 3rd quarter worth approximately $82,000. Sterling Capital Management LLC lifted its position in Revolution Medicines by 588.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock valued at $86,000 after acquiring an additional 1,672 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in 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 purchasing an additional 1,613 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Revolution Medicines in the 4th quarter worth $104,000. 94.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus reduced their target price on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. HC Wainwright lifted their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a report on Monday, March 3rd. UBS Group upped their price objective on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. lifted their target price on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Wedbush reissued an “outperform” rating and issued a $67.00 price target on shares of Revolution Medicines in a research note on Thursday, February 27th. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Revolution Medicines has an average rating of “Buy” and an average price target of $66.31.

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.