Revolution Medicines, Inc. (NASDAQ:RVMD) Insider Stephen Michael Kelsey Sells 16,666 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Stephen Michael Kelsey sold 16,666 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 264,408 shares of the company’s stock, valued at $13,085,551.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Revolution Medicines Price Performance

RVMD stock opened at $50.42 on Thursday. The firm has a market capitalization of $8.42 billion, a P/E ratio of -13.85 and a beta of 1.43. Revolution Medicines, Inc. has a 52-week low of $15.44 and a 52-week high of $51.00. The company’s 50 day simple moving average is $44.51 and its 200-day simple moving average is $41.09.

Revolution Medicines (NASDAQ:RVMD) 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 business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $0.81 million. The business’s quarterly revenue was down 73.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.92) EPS. Sell-side analysts predict that Revolution Medicines, Inc. will post -3.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in Revolution Medicines by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock worth $28,000 after acquiring an additional 222 shares during the period. Headlands Technologies LLC boosted its holdings in shares of Revolution Medicines by 140.9% during the first quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after purchasing an additional 885 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Revolution Medicines during the first quarter valued at approximately $104,000. EntryPoint Capital LLC purchased a new position in Revolution Medicines during the first quarter valued at approximately $107,000. Finally, Nisa Investment Advisors LLC increased its stake in Revolution Medicines by 10.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after buying an additional 320 shares during the period. 94.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RVMD. Bank of America upped their price objective on Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Barclays upped their price target on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Wedbush restated an “outperform” rating and set a $59.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and issued a $56.00 target price on shares of Revolution Medicines in a report on Monday, August 12th. Finally, Needham & Company LLC reissued a “buy” rating and set a $61.00 target price on shares of Revolution Medicines in a research note on Monday, October 7th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $54.00.

Revolution Medicines Company Profile

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.