Revolution Medicines (NASDAQ:RVMD) Insider Sells $1,301,400.00 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark Goldsmith sold 20,000 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $65.07, for a total transaction of $1,301,400.00. Following the transaction, the insider directly owned 247,863 shares in the company, valued at approximately $16,128,445.41. This represents a 7.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD traded up $3.37 during midday trading on Friday, reaching $67.75. The company’s stock had a trading volume of 3,957,968 shares, compared to its average volume of 2,469,948. The stock has a market capitalization of $13.10 billion, a P/E ratio of -13.10 and a beta of 1.25. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.05 and a quick ratio of 8.05. The firm has a 50 day moving average price of $51.19 and a 200-day moving average price of $42.89. Revolution Medicines, Inc. has a 12-month low of $29.17 and a 12-month high of $69.02.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($1.61) EPS for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same period last year, the company earned ($0.94) EPS. As a group, equities analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RVMD. Wedbush raised their target price on Revolution Medicines from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. National Bankshares set a $80.00 price target on Revolution Medicines in a research report on Friday, October 17th. Piper Sandler assumed coverage on shares of Revolution Medicines in a research report on Monday, August 18th. They issued an “overweight” rating and a $75.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a report on Wednesday, October 8th. Finally, Needham & Company LLC increased their target price on shares of Revolution Medicines from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $78.71.

Hedge Funds Weigh In On Revolution Medicines

A number of large investors have recently added to or reduced their stakes in RVMD. Schonfeld Strategic Advisors LLC lifted its stake in Revolution Medicines by 165.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 34,575 shares of the company’s stock worth $1,615,000 after purchasing an additional 21,552 shares during the last quarter. Bellevue Group AG increased its holdings in shares of Revolution Medicines by 21.7% in the third quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock worth $260,298,000 after buying an additional 994,538 shares during the period. Caligan Partners LP lifted its stake in shares of Revolution Medicines by 67.1% in the 3rd quarter. Caligan Partners LP now owns 1,064,249 shares of the company’s stock valued at $49,700,000 after acquiring an additional 427,414 shares during the last quarter. Caisse de depot et placement du Quebec purchased a new stake in Revolution Medicines during the 3rd quarter valued at about $5,062,000. Finally, Deerfield Management Company L.P. grew its position in Revolution Medicines by 7.9% during the 3rd quarter. Deerfield Management Company L.P. now owns 3,650,342 shares of the company’s stock worth $170,471,000 after acquiring an additional 266,270 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Company Profile

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.