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

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

Revolution Medicines Trading Up 3.3%

RVMD stock traded up $5.22 during midday trading on Thursday, hitting $162.99. The stock had a trading volume of 4,701,208 shares, compared to its average volume of 3,310,265. The company’s 50-day moving average price is $144.38 and its 200 day moving average price is $112.39. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. The firm has a market cap of $34.65 billion, a PE ratio of -23.05 and a beta of 1.40. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $166.50.

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

Analysts Set New Price Targets

A number of analysts have issued reports on RVMD shares. Wedbush reissued an “outperform” rating on shares of Revolution Medicines in a research note on Monday, June 1st. UBS Group initiated coverage on shares of Revolution Medicines in a report on Friday, February 27th. They set a “buy” rating on the stock. Jefferies Financial Group started coverage on shares of Revolution Medicines in a research report on Monday, March 16th. They issued a “buy” rating on the stock. Royal Bank Of Canada boosted their target price on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Finally, Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $123.72.

Hedge Funds Weigh In On Revolution Medicines

Large investors have recently modified their holdings of the company. Indiana Trust & Investment Management Co purchased a new stake in shares of Revolution Medicines during the 4th quarter worth about $32,000. Global Retirement Partners LLC lifted its position in Revolution Medicines by 1,002.8% during the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after buying an additional 361 shares in the last quarter. Torren Management LLC purchased a new stake in Revolution Medicines during the fourth quarter worth approximately $33,000. Arax Advisory Partners acquired a new stake in shares of Revolution Medicines in the fourth quarter worth $38,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Revolution Medicines during the 4th quarter valued at $40,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

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.