Revolution Medicines, Inc. (NASDAQ:RVMD) Director Sells $79,735.00 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) Director Sushil Patel sold 2,155 shares of Revolution Medicines stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $37.00, for a total value of $79,735.00. Following the completion of the sale, the director now directly owns 15,700 shares of the company’s stock, valued at $580,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock traded down $1.34 during trading on Friday, reaching $36.07. The company’s stock had a trading volume of 1,634,579 shares, compared to its average volume of 1,402,769. The business’s fifty day moving average price is $30.98 and its 200-day moving average price is $27.27. Revolution Medicines, Inc. has a one year low of $15.44 and a one year high of $38.73. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of -9.92 and a beta of 1.54.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Monday, February 26th. The company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.29). The firm had revenue of $0.74 million during the quarter, compared to the consensus estimate of $1.20 million. The firm’s revenue was down 95.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.63) EPS. Sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.17 EPS for the current year.

Hedge Funds Weigh In On Revolution Medicines

Hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd acquired a new position in Revolution Medicines in the second quarter worth about $39,000. US Bancorp DE raised its holdings in shares of Revolution Medicines by 68.1% in the 2nd quarter. US Bancorp DE now owns 1,575 shares of the company’s stock worth $42,000 after buying an additional 638 shares in the last quarter. Shell Asset Management Co. bought a new position in shares of Revolution Medicines during the 4th quarter worth approximately $54,000. KBC Group NV acquired a new position in Revolution Medicines during the fourth quarter worth $65,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Revolution Medicines by 76.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,418 shares of the company’s stock valued at $74,000 after purchasing an additional 1,481 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wedbush increased their price target on shares of Revolution Medicines from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Oppenheimer lifted their price target on Revolution Medicines from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday. Raymond James upgraded shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $36.00 to $48.00 in a research report on Wednesday. Bank of America upgraded shares of Revolution Medicines from a “neutral” rating to a “buy” rating and upped their price target for the company from $31.00 to $34.00 in a research report on Friday, January 5th. Finally, UBS Group began coverage on shares of Revolution Medicines in a research report on Wednesday, December 20th. They set a “buy” rating and a $40.00 price objective on the stock. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $41.20.

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.