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 stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $458,251.52. Following the sale, the insider now directly owns 441,564 shares of the company’s stock, valued at approximately $17,238,658.56. The trade was a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Revolution Medicines Trading Up 1.5 %

RVMD opened at $38.75 on Thursday. The company has a fifty day moving average price of $40.74 and a two-hundred day moving average price of $45.78. Revolution Medicines, Inc. has a 1-year low of $29.55 and a 1-year high of $62.40. The company has a market cap of $7.20 billion, a P/E ratio of -10.79 and a beta of 1.46.

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

Analyst Upgrades and Downgrades

RVMD has been the topic of several research reports. Needham & Company LLC cut their target price on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus cut their price objective on shares of Revolution Medicines from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Wedbush reaffirmed an “outperform” rating and issued a $67.00 target price on shares of Revolution Medicines in a research report on Thursday, February 27th. Guggenheim boosted their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. raised their price objective on Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Twelve analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $66.31.

Institutional Trading of Revolution Medicines

Several institutional investors have recently made changes to their positions in the company. KBC Group NV boosted its stake in shares of Revolution Medicines by 12.9% in the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after buying an additional 368 shares during the last quarter. CIBC Asset Management Inc purchased a new position in Revolution Medicines in the third quarter worth $216,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Revolution Medicines in the 3rd quarter valued at $1,220,000. Intech Investment Management LLC purchased a new stake in shares of Revolution Medicines during the 3rd quarter valued at $1,709,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Revolution Medicines by 58.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company’s stock worth $79,957,000 after purchasing an additional 653,433 shares during the period. 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.