Insider Selling: Revolution Medicines (NASDAQ:RVMD) Insider Sells 60,000 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark Goldsmith sold 60,000 shares of Revolution Medicines stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $75.08, for a total value of $4,504,800.00. Following the completion of the transaction, the insider owned 247,863 shares of the company’s stock, valued at approximately $18,609,554.04. This represents a 19.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Revolution Medicines Trading Up 1.7%

Shares of RVMD stock opened at $77.58 on Friday. The company has a market cap of $15.00 billion, a PE ratio of -15.01 and a beta of 1.25. Revolution Medicines, Inc. has a 1 year low of $29.17 and a 1 year high of $78.17. The stock’s 50 day simple moving average is $56.41 and its two-hundred day simple moving average is $44.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.05 and a quick ratio of 8.05.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same quarter in the previous year, the company earned ($0.94) earnings per share. Research analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Hedge Funds Weigh In On Revolution Medicines

Institutional investors have recently modified their holdings of the stock. CWM LLC raised its stake in shares of Revolution Medicines by 171.3% during the second quarter. CWM LLC now owns 917 shares of the company’s stock valued at $34,000 after acquiring an additional 579 shares in the last quarter. GAMMA Investing LLC increased its holdings in Revolution Medicines by 45.1% during the 3rd quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock worth $39,000 after purchasing an additional 260 shares during the period. Banque Transatlantique SA purchased a new position in Revolution Medicines during the 1st quarter worth $42,000. Quarry LP bought a new stake in Revolution Medicines during the 1st quarter valued at $50,000. Finally, Twin Tree Management LP purchased a new stake in shares of Revolution Medicines in the 1st quarter worth $58,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RVMD. The Goldman Sachs Group increased their target price on shares of Revolution Medicines from $65.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Needham & Company LLC increased their price objective on shares of Revolution Medicines from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Royal Bank Of Canada started coverage on Revolution Medicines in a research report on Monday, November 3rd. They set an “outperform” rating and a $77.00 target price for the company. Piper Sandler assumed coverage on Revolution Medicines in a research note on Monday, August 18th. They set an “overweight” rating and a $75.00 target price on the stock. Finally, Stifel Nicolaus initiated coverage on Revolution Medicines in a research note on Wednesday, October 15th. They set a “buy” rating and a $85.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $78.50.

About Revolution Medicines

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.