Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) General Counsel Jeff Cislini sold 6,000 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.17, for a total transaction of $301,020.00. Following the completion of the transaction, the general counsel now directly owns 45,634 shares in the company, valued at $2,289,457.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
RVMD traded down $0.23 during trading on Tuesday, hitting $48.99. 881,280 shares of the stock traded hands, compared to its average volume of 1,313,758. The firm has a market capitalization of $8.18 billion, a P/E ratio of -13.46 and a beta of 1.43. The firm has a 50-day moving average of $44.23 and a 200 day moving average of $40.91. Revolution Medicines, Inc. has a 12-month low of $15.44 and a 12-month high of $51.00.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The firm had revenue of $1.00 million for the quarter, compared to analysts' expectations of $0.81 million. During the same period last year, the company posted ($0.92) earnings per share. The company's revenue for the quarter was down 73.8% on a year-over-year basis. As a group, equities analysts predict that Revolution Medicines, Inc. will post -3.35 EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on RVMD shares. Barclays upped their price objective on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an "overweight" rating in a research note on Friday, September 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $61.00 price objective on shares of Revolution Medicines in a research note on Monday, October 7th. Bank of America upped their price objective on shares of Revolution Medicines from $48.00 to $55.00 and gave the company a "buy" rating in a research note on Tuesday, July 16th. HC Wainwright reaffirmed a "buy" rating and issued a $56.00 price objective on shares of Revolution Medicines in a research note on Monday, August 12th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $59.00 price objective on shares of Revolution Medicines in a research note on Thursday, August 8th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $54.00.
View Our Latest Stock Report on Revolution Medicines
Several institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in shares of Revolution Medicines by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company's stock worth $28,000 after purchasing an additional 222 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Revolution Medicines by 10.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company's stock worth $131,000 after purchasing an additional 320 shares during the period. Amalgamated Bank lifted its position in shares of Revolution Medicines by 7.4% in the 2nd quarter. Amalgamated Bank now owns 5,272 shares of the company's stock worth $205,000 after purchasing an additional 365 shares during the period. Headlands Technologies LLC lifted its position in shares of Revolution Medicines by 140.9% in the 1st 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. Finally, Clear Harbor Asset Management LLC lifted its position in shares of Revolution Medicines by 10.2% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 11,224 shares of the company's stock worth $436,000 after purchasing an additional 1,036 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.
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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