Mark A. Goldsmith Sells 11,738 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark A. Goldsmith sold 11,738 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $458,251.52. Following the sale, the insider now owns 441,564 shares in the company, valued at approximately $17,238,658.56. This represents a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Revolution Medicines Stock Performance

NASDAQ:RVMD opened at $38.49 on Friday. The stock has a fifty day moving average of $40.63 and a 200 day moving average of $45.73. Revolution Medicines, Inc. has a 52-week low of $29.55 and a 52-week high of $62.40. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of -10.72 and a beta of 1.46.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Stifel Nicolaus reduced their price objective 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. JPMorgan Chase & Co. upped their price target on Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Needham & Company LLC dropped their price objective on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Wedbush reiterated an “outperform” rating and issued a $67.00 price objective on shares of Revolution Medicines in a report on Thursday, February 27th. Finally, HC Wainwright increased their price target on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $66.31.

Hedge Funds Weigh In On Revolution Medicines

A number of hedge funds have recently added to or reduced their stakes in RVMD. IFP Advisors Inc purchased a new stake in Revolution Medicines during the 4th quarter valued at $34,000. Quarry LP purchased a new stake in shares of Revolution Medicines in the 3rd quarter worth $82,000. Sterling Capital Management LLC increased its stake in shares of Revolution Medicines by 588.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock worth $86,000 after purchasing an additional 1,672 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Revolution Medicines by 368.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock worth $90,000 after buying an additional 1,613 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new position in Revolution Medicines in the 4th quarter worth $104,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

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.