Revolution Medicines (NASDAQ:RVMD) Insider Mark Goldsmith Sells 30,000 Shares

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark Goldsmith sold 30,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $101.22, for a total value of $3,036,600.00. Following the completion of the sale, the insider directly owned 289,569 shares of the company’s stock, valued at $29,310,174.18. The trade was a 9.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Revolution Medicines Stock Performance

Shares of NASDAQ:RVMD traded down $1.13 during trading on Tuesday, reaching $100.49. The company had a trading volume of 1,875,064 shares, compared to its average volume of 2,263,753. The firm has a market capitalization of $19.91 billion, a price-to-earnings ratio of -17.00 and a beta of 0.99. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $124.49. The stock’s fifty day moving average price is $100.01 and its 200 day moving average price is $71.76. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.14 and a quick ratio of 7.14.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($1.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.30). During the same period last year, the business earned ($1.12) EPS. As a group, equities research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Institutional Investors Weigh In On Revolution Medicines

Several institutional investors have recently made changes to their positions in RVMD. Indiana Trust & Investment Management Co acquired a new stake in shares of Revolution Medicines in the 4th quarter valued at $32,000. Global Retirement Partners LLC increased its stake in Revolution Medicines by 1,002.8% in the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after purchasing an additional 361 shares in the last quarter. Torren Management LLC acquired a new position in Revolution Medicines in the fourth quarter valued at about $33,000. CWM LLC increased its stake in Revolution Medicines by 171.3% during the 2nd quarter. CWM LLC now owns 917 shares of the company’s stock worth $34,000 after purchasing an additional 579 shares in the last quarter. Finally, Arax Advisory Partners bought a new stake in shares of Revolution Medicines during the fourth quarter worth $38,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada started coverage on shares of Revolution Medicines in a research note on Monday, November 3rd. They set an “outperform” rating and a $77.00 price objective for the company. UBS Group began coverage on shares of Revolution Medicines in a research report on Friday. They set a “buy” rating for the company. Needham & Company LLC increased their target price on Revolution Medicines from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Wolfe Research started coverage on shares of Revolution Medicines in a report on Tuesday, November 18th. They issued an “outperform” rating and a $75.00 price target for the company. Finally, Benchmark restated an “overweight” rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $78.94.

Revolution Medicines Company Profile

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.