Revolution Medicines (NASDAQ:RVMD) Insider Mark Goldsmith Sells 13,988 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark Goldsmith sold 13,988 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $199.24, for a total value of $2,786,969.12. Following the completion of the transaction, the insider directly owned 253,342 shares of the company’s stock, valued at approximately $50,475,860.08. This trade represents a 5.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Stock Performance

Shares of RVMD traded down $5.99 during trading hours on Friday, hitting $190.95. The stock had a trading volume of 5,937,950 shares, compared to its average volume of 2,930,039. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38. The firm has a 50-day moving average price of $199.49 and a 200 day moving average price of $159.35. Revolution Medicines, Inc. has a fifty-two week low of $42.18 and a fifty-two week high of $224.31. The firm has a market capitalization of $40.93 billion, a price-to-earnings ratio of -21.65 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the prior year, the business posted ($1.31) EPS. As a group, research analysts anticipate that Revolution Medicines, Inc. will post -8.87 EPS for the current year.

Analyst Ratings Changes

RVMD has been the subject of a number of research reports. Oppenheimer boosted their target price on shares of Revolution Medicines from $230.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Sanford C. Bernstein increased their target price on Revolution Medicines from $151.00 to $179.00 and gave the company a “market perform” rating in a report on Friday, August 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Friday, July 17th. Royal Bank Of Canada upped their target price on Revolution Medicines from $203.00 to $251.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Finally, TD Cowen upgraded shares of Revolution Medicines to a “strong-buy” rating in a report on Monday, August 24th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $226.17.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Janus Henderson Group PLC raised its stake in Revolution Medicines by 8.3% during the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock valued at $980,036,000 after acquiring an additional 947,448 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Revolution Medicines by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,161,963 shares of the company’s stock worth $251,912,000 after buying an additional 16,323 shares in the last quarter. Alphabet Inc. purchased a new position in Revolution Medicines in the second quarter valued at about $551,843,000. Westfield Capital Management Co. LP lifted its position in shares of Revolution Medicines by 13.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 2,845,013 shares of the company’s stock valued at $226,605,000 after acquiring an additional 331,046 shares during the period. Finally, General Atlantic L.P. lifted its position in shares of Revolution Medicines by 13.7% during the 4th quarter. General Atlantic L.P. now owns 2,812,928 shares of the company’s stock valued at $224,050,000 after acquiring an additional 338,500 shares during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.

Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.