Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) CFO Jack Anders sold 1,864 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $72,770.56. Following the completion of the sale, the chief financial officer now owns 115,006 shares in the company, valued at $4,489,834.24. This represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Revolution Medicines Stock Performance
RVMD opened at $38.75 on Thursday. Revolution Medicines, Inc. has a 1 year low of $29.55 and a 1 year high of $62.40. The company's 50 day simple moving average is $40.74 and its 200 day simple moving average is $45.78. The stock has a market capitalization of $7.20 billion, a PE ratio of -10.79 and a beta of 1.46.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly 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). As a group, sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.
Institutional Trading of Revolution Medicines
A number of institutional investors and hedge funds have recently bought and sold shares of RVMD. Vanguard Group Inc. lifted its position in Revolution Medicines by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company's stock valued at $747,799,000 after buying an additional 2,185,082 shares in the last quarter. Farallon Capital Management LLC raised its stake in shares of Revolution Medicines by 17.1% in the 4th quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock valued at $579,498,000 after acquiring an additional 1,931,000 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Revolution Medicines by 54.5% during the 4th quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company's stock valued at $414,777,000 after acquiring an additional 3,346,755 shares in the last quarter. Baker BROS. Advisors LP boosted its position in Revolution Medicines by 4.9% during the 4th quarter. Baker BROS. Advisors LP now owns 7,936,972 shares of the company's stock worth $347,163,000 after purchasing an additional 367,882 shares during the period. Finally, Nextech Invest Ltd. increased its holdings in Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock valued at $332,472,000 after purchasing an additional 1,304,347 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company's stock.
Analyst Ratings Changes
Several brokerages have issued reports on RVMD. Wedbush reaffirmed an "outperform" rating and issued a $67.00 price target on shares of Revolution Medicines in a report on Thursday, February 27th. UBS Group upped their target price on Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Guggenheim raised their price target on Revolution Medicines from $82.00 to $87.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. upped their price objective on Revolution Medicines from $63.00 to $71.00 and gave the company an "overweight" rating in a research report on Tuesday, December 3rd. Finally, Stifel Nicolaus decreased 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. Twelve analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $66.31.
View Our Latest Stock Analysis on RVMD
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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