Revolution Medicines (NASDAQ:RVMD) Insider Sells $3,036,600.00 in Stock

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 transaction, the insider directly owned 289,569 shares of the company’s stock, valued at $29,310,174.18. This trade represents a 9.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock traded down $1.13 during trading on Tuesday, hitting $100.49. 1,875,064 shares of the stock were exchanged, compared to its average volume of 2,263,753. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.16. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $124.49. The company has a fifty day moving average price of $100.01 and a 200-day moving average price of $71.76. The stock has a market capitalization of $19.91 billion, a price-to-earnings ratio of -17.00 and a beta of 0.99.

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 quarter last year, the company posted ($1.12) earnings per share. As a group, equities analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Revolution Medicines

Several institutional investors have recently made changes to their positions in the stock. Indiana Trust & Investment Management Co bought a new position in shares of Revolution Medicines in the 4th quarter worth $32,000. Global Retirement Partners LLC grew its holdings in shares of 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 acquiring an additional 361 shares in the last quarter. Torren Management LLC purchased a new stake in shares of Revolution Medicines during the 4th quarter valued at $33,000. CWM LLC boosted its stake in Revolution Medicines by 171.3% in the second quarter. CWM LLC now owns 917 shares of the company’s stock valued at $34,000 after acquiring an additional 579 shares during the last quarter. Finally, Arax Advisory Partners bought a new position in Revolution Medicines during the fourth quarter valued at $38,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RVMD shares. Wedbush reissued an “outperform” rating on shares of Revolution Medicines in a research report on Friday, January 9th. Royal Bank Of Canada assumed coverage on Revolution Medicines in a research report on Monday, November 3rd. They set an “outperform” rating and a $77.00 price objective for the company. Benchmark reiterated an “overweight” rating on shares of Revolution Medicines in a research report on Tuesday, February 17th. JPMorgan Chase & Co. boosted their target price on Revolution Medicines from $71.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, UBS Group assumed coverage on shares of Revolution Medicines in a report on Friday. They issued a “buy” rating for the company. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target 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.