Revolution Medicines (NASDAQ:RVMD) Insider Sells 80,000 Shares

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark Goldsmith sold 80,000 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $209.20, for a total value of $16,736,000.00. Following the completion of the sale, the insider directly owned 267,330 shares of the company’s stock, valued at approximately $55,925,436. This trade represents a 23.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD traded down $0.18 during trading on Tuesday, hitting $211.40. 1,377,215 shares of the company were exchanged, compared to its average volume of 3,018,515. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. Revolution Medicines, Inc. has a 1 year low of $35.62 and a 1 year high of $220.34. The company has a market cap of $45.31 billion, a price-to-earnings ratio of -23.97 and a beta of 1.39. The firm’s fifty day moving average price is $189.02 and its 200 day moving average price is $145.65.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same quarter last year, the firm posted ($1.31) EPS. On average, sell-side analysts expect that Revolution Medicines, Inc. will post -8.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Revolution Medicines

Hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System lifted its holdings in shares of Revolution Medicines by 26,920.9% in the second quarter. California State Teachers Retirement System now owns 44,659,351 shares of the company’s stock valued at $8,363,803,000 after purchasing an additional 44,494,074 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Revolution Medicines by 6.7% during the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after purchasing an additional 1,056,792 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Revolution Medicines by 8.3% during the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock worth $980,036,000 after purchasing an additional 947,448 shares in the last quarter. Nextech Invest Ltd. raised its position in shares of Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP raised its position in shares of Revolution Medicines by 6.8% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company’s stock worth $529,227,000 after purchasing an additional 421,112 shares during the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on RVMD shares. Sanford C. Bernstein increased their target price on shares of Revolution Medicines from $151.00 to $179.00 and gave the company a “market perform” rating in a report on Friday. Needham & Company LLC boosted their price target on Revolution Medicines from $236.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Truist Financial upped their price target on Revolution Medicines from $210.00 to $231.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Royal Bank Of Canada raised their price objective on Revolution Medicines from $182.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, Guggenheim lifted their price objective on Revolution Medicines from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Revolution Medicines currently has a consensus rating of “Moderate Buy” and an average target price of $167.89.

About Revolution Medicines

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.