Revolution Medicines (NASDAQ:RVMD) Insider Mark Goldsmith Sells 10,020 Shares

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark Goldsmith sold 10,020 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $1,564,322.40. Following the sale, the insider owned 267,330 shares in the company, valued at approximately $41,735,559.60. The trade was a 3.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Trading Up 3.3%

Shares of NASDAQ:RVMD opened at $162.99 on Friday. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $166.50. The stock has a market cap of $34.65 billion, a price-to-earnings ratio of -23.05 and a beta of 1.40. The business has a 50-day moving average price of $145.72 and a 200-day moving average price of $112.99.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the previous year, the firm posted ($1.13) earnings per share. Equities analysts predict that Revolution Medicines, Inc. will post -7.94 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. HC Wainwright upped their target price on Revolution Medicines from $169.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Sanford C. Bernstein initiated coverage on shares of Revolution Medicines in a research note on Thursday, May 21st. They issued a “market perform” rating and a $151.00 target price for the company. Jefferies Financial Group initiated coverage on shares of Revolution Medicines in a report on Monday, March 16th. They set a “buy” rating on the stock. Truist Financial began coverage on shares of Revolution Medicines in a research report on Monday, May 18th. They set a “buy” rating and a $179.00 price target on the stock. Finally, Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a research report on Monday, June 1st. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $123.72.

Institutional Investors Weigh In On Revolution Medicines

A number of institutional investors have recently added to or reduced their stakes in RVMD. Indiana Trust & Investment Management Co acquired a new position in Revolution Medicines during the fourth quarter worth $32,000. Global Retirement Partners LLC increased its stake in shares of Revolution Medicines by 1,002.8% during the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after purchasing an additional 361 shares in the last quarter. Torren Management LLC acquired a new position in shares of Revolution Medicines during the 4th quarter worth about $33,000. Arax Advisory Partners acquired a new position in shares of Revolution Medicines during the 4th quarter worth about $38,000. Finally, Darwin Wealth Management LLC purchased a new position in Revolution Medicines in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

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.