Insider Selling: Revolution Medicines (NASDAQ:RVMD) Insider Sells 10,020 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMDGet Free Report) insider Mark Goldsmith sold 10,020 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $1,564,322.40. Following the transaction, the insider owned 267,330 shares in the company, valued at approximately $41,735,559.60. This represents a 3.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Stock Up 3.3%

Shares of NASDAQ RVMD traded up $5.22 on Thursday, hitting $162.99. The company had a trading volume of 4,701,208 shares, compared to its average volume of 3,310,265. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $166.50. The firm has a market capitalization of $34.65 billion, a P/E ratio of -23.05 and a beta of 1.40. The business has a 50 day moving average of $144.38 and a two-hundred day moving average of $112.39.

Revolution Medicines (NASDAQ:RVMDGet Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the firm posted ($1.13) earnings per share. As a group, equities research analysts forecast that Revolution Medicines, Inc. will post -7.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Sanford C. Bernstein started coverage on shares of Revolution Medicines in a research note on Thursday, May 21st. They set a “market perform” rating and a $151.00 price objective on the stock. HC Wainwright raised their price target on shares of Revolution Medicines from $169.00 to $195.00 and gave the company a “buy” rating in a report on Monday, June 1st. Piper Sandler lifted their price target on shares of Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Evercore reiterated an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $123.72.

Check Out Our Latest Stock Report on RVMD

Hedge Funds Weigh In On Revolution Medicines

Several institutional investors and hedge funds have recently made changes to their positions in the business. Seven Fleet Capital Management LP increased its stake in shares of Revolution Medicines by 22.8% in the first quarter. Seven Fleet Capital Management LP now owns 80,792 shares of the company’s stock worth $7,857,000 after buying an additional 14,992 shares during the last quarter. Parallel Advisors LLC boosted its stake in Revolution Medicines by 181.0% during the 1st quarter. Parallel Advisors LLC now owns 562 shares of the company’s stock valued at $55,000 after acquiring an additional 362 shares during the last quarter. Perceptive Advisors LLC bought a new position in Revolution Medicines during the 1st quarter valued at $25,149,000. Avidity Partners Management LP acquired a new position in Revolution Medicines during the 1st quarter worth $1,459,000. Finally, Edgestream Partners L.P. acquired a new position in Revolution Medicines during the 1st quarter worth $6,736,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Revolution Medicines (NASDAQ:RVMD)

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