Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) insider Stephen Michael Kelsey sold 16,666 shares of the company's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $49.49, for a total value of $824,800.34. Following the completion of the transaction, the insider now directly owns 264,408 shares in the company, valued at approximately $13,085,551.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Revolution Medicines Price Performance
Revolution Medicines stock opened at $50.42 on Thursday. Revolution Medicines, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $51.00. The firm has a fifty day moving average price of $44.51 and a two-hundred day moving average price of $41.09. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of -13.85 and a beta of 1.43.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.81 million. During the same period in the previous year, the company earned ($0.92) earnings per share. The business's revenue was down 73.8% compared to the same quarter last year. As a group, sell-side analysts expect that Revolution Medicines, Inc. will post -3.35 earnings per share for the current year.
Institutional Inflows and Outflows
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A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Revolution Medicines by 51.8% during the fourth quarter. Vanguard Group Inc. now owns 14,634,391 shares of the company's stock worth $419,714,000 after acquiring an additional 4,990,800 shares during the period. Baker BROS. Advisors LP grew its position in Revolution Medicines by 46.6% in the 1st quarter. Baker BROS. Advisors LP now owns 7,549,249 shares of the company's stock worth $243,312,000 after purchasing an additional 2,400,592 shares during the last quarter. Farallon Capital Management LLC grew its position in Revolution Medicines by 30.0% in the 2nd quarter. Farallon Capital Management LLC now owns 9,757,692 shares of the company's stock worth $378,696,000 after purchasing an additional 2,249,820 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Revolution Medicines by 77.9% during the 1st quarter. Janus Henderson Group PLC now owns 3,912,119 shares of the company's stock worth $126,067,000 after purchasing an additional 1,712,639 shares during the period. Finally, Logos Global Management LP acquired a new position in shares of Revolution Medicines during the second quarter valued at about $46,572,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
RVMD has been the topic of a number of research reports. Jefferies Financial Group assumed coverage on Revolution Medicines in a report on Monday, July 8th. They issued a "buy" rating and a $63.00 price objective on the stock. Needham & Company LLC reissued a "buy" rating and issued a $61.00 target price on shares of Revolution Medicines in a research report on Monday, October 7th. Bank of America raised their price target on shares of Revolution Medicines from $48.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, July 16th. Wedbush reiterated an "outperform" rating and issued a $59.00 price objective on shares of Revolution Medicines in a report on Thursday, August 8th. Finally, Barclays increased their target price on shares of Revolution Medicines from $54.00 to $60.00 and gave the stock an "overweight" rating in a research report on Friday, September 27th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $54.00.
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About Revolution Medicines
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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.
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