Revolution Medicines, Inc. (NASDAQ:RVMD) CFO Sells $72,770.56 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) CFO Jack Anders sold 1,864 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $72,770.56. Following the transaction, the chief financial officer now owns 115,006 shares in the company, valued at approximately $4,489,834.24. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Revolution Medicines Price Performance

Shares of NASDAQ:RVMD traded up $0.59 during trading on Wednesday, hitting $38.75. 1,288,279 shares of the company’s stock were exchanged, compared to its average volume of 1,347,713. The business’s 50-day simple moving average is $40.86 and its 200 day simple moving average is $45.83. Revolution Medicines, Inc. has a 52-week low of $29.55 and a 52-week high of $62.40. The company has a market cap of $7.20 billion, a price-to-earnings ratio of -10.79 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.11). On average, sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. UBS Group raised 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. HC Wainwright boosted their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Wedbush reiterated an “outperform” rating and issued a $67.00 price target on shares of Revolution Medicines in a research report on Thursday, February 27th. Finally, Guggenheim boosted their price objective on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $66.31.

Institutional Trading of Revolution Medicines

Several hedge funds have recently bought and sold shares of RVMD. IFP Advisors Inc purchased a new stake in Revolution Medicines during the fourth quarter valued at $34,000. Quarry LP purchased a new stake in shares of Revolution Medicines during the 3rd quarter valued at about $82,000. Sterling Capital Management LLC lifted its holdings 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 valued at $86,000 after acquiring an additional 1,672 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of 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 purchasing an additional 1,613 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new position in Revolution Medicines during the fourth quarter valued at $104,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

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.