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

Revolution Medicines, Inc. (NASDAQ:RVMD)’s share price fell 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. 888,002 shares were traded during mid-day trading, a decline of 34% from the average session volume of 1,354,194 shares. The stock had previously closed at $40.20.

Specifically, CFO Jack Anders sold 1,261 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $39,822.38. Following the sale, the chief financial officer now owns 101,959 shares of the company’s stock, valued at approximately $3,219,865.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Jack Anders sold 1,261 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $31.58, for a total value of $39,822.38. Following the completion of the transaction, the chief financial officer now owns 101,959 shares in the company, valued at approximately $3,219,865.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Margaret A. Horn sold 2,914 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $31.58, for a total value of $92,024.12. Following the sale, the chief operating officer now owns 139,553 shares in the company, valued at approximately $4,407,083.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,705 shares of company stock valued at $1,031,049. 8.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Revolution Medicines Stock Performance

The business’s 50 day moving average is $33.59 and its 200-day moving average is $28.45. The stock has a market cap of $6.63 billion, a price-to-earnings ratio of -10.31 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Monday, February 26th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.29). The firm had revenue of $0.74 million for the quarter, compared to analyst estimates of $1.20 million. During the same quarter last year, the business posted ($0.63) EPS. The firm’s revenue for the quarter was down 95.2% on a year-over-year basis. Sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.18 EPS for the current fiscal year.

Institutional Trading of Revolution Medicines

Institutional investors have recently made changes to their positions in the company. Manchester Capital Management LLC purchased a new position in Revolution Medicines in the 4th quarter valued at $80,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Revolution Medicines by 101.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,802 shares of the company’s stock worth $78,000 after buying an additional 1,409 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Revolution Medicines during the first quarter worth about $104,000. Fred Alger Management LLC purchased a new stake in Revolution Medicines during the 3rd quarter valued at about $126,000. Finally, Federated Hermes Inc. acquired a new stake in Revolution Medicines in the 3rd quarter valued at about $126,000. 94.34% of the stock is owned by institutional investors and hedge funds.

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.