Revolution Medicines (NASDAQ:RVMD) Insider Mark Goldsmith Sells 80,000 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark Goldsmith sold 80,000 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $209.20, for a total transaction of $16,736,000.00. Following the sale, the insider owned 267,330 shares of the company’s stock, valued at approximately $55,925,436. This represents a 23.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Revolution Medicines Trading Down 0.1%

Shares of NASDAQ RVMD opened at $211.38 on Wednesday. The firm’s 50 day moving average price is $190.11 and its 200-day moving average price is $146.46. The company has a market cap of $45.31 billion, a PE ratio of -23.97 and a beta of 1.39. Revolution Medicines, Inc. has a 52-week low of $35.62 and a 52-week high of $220.34. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the prior year, the company earned ($1.31) EPS. On average, equities research analysts expect that Revolution Medicines, Inc. will post -8.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Revolution Medicines

Hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its holdings in shares of Revolution Medicines by 26,920.9% during the 2nd quarter. California State Teachers Retirement System now owns 44,659,351 shares of the company’s stock valued at $8,363,803,000 after buying an additional 44,494,074 shares during the period. Alphabet Inc. bought a new stake in shares of Revolution Medicines in the second quarter worth $551,843,000. Norges Bank purchased a new stake in Revolution Medicines during the fourth quarter valued at $195,568,000. Avoro Capital Advisors LLC purchased a new stake in Revolution Medicines during the fourth quarter valued at $172,840,000. Finally, UBS Group AG lifted its holdings in Revolution Medicines by 183.6% in the fourth quarter. UBS Group AG now owns 3,087,937 shares of the company’s stock valued at $245,954,000 after acquiring an additional 1,998,972 shares during the period. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research report on Friday, July 17th. Evercore reissued an “outperform” rating and issued a $230.00 target price on shares of Revolution Medicines in a research report on Thursday, August 6th. Guggenheim boosted their target price on Revolution Medicines from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Truist Financial upped their target price on shares of Revolution Medicines from $210.00 to $231.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $195.00 price target on shares of Revolution Medicines in a report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Revolution Medicines presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.89.

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.