Revolution Medicines (NASDAQ:RVMD) Insider Sells 13,988 Shares

Key Points

• Insider sale: Mark Goldsmith sold 13,988 Revolution Medicines shares at an average price of $199.24, generating approximately $2.79 million. The filing said the sale covered tax-withholding obligations tied to vested equity awards, leaving him with 253,342 shares.
• Stock and earnings: RVMD recently traded at $190.95, down $5.99, after reporting quarterly EPS of negative $3.06, below the consensus estimate of negative $2.04. Analysts expect a full-year loss of approximately $8.87 per share.
• Analyst outlook remains positive: The stock has a consensus “Moderate Buy” rating and an average price target of $226.17, while institutional investors own 94.34% of the company.

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) insider Mark Goldsmith sold 13,988 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total transaction of $2,786,969.12. Following the completion of the transaction, the insider owned 253,342 shares in the company, valued at $50,475,860.08. This trade represents a 5.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Stock Performance

NASDAQ RVMD traded down $5.99 during trading hours on Friday, hitting $190.95. 5,937,950 shares of the company's stock traded hands, compared to its average volume of 2,930,039. Revolution Medicines, Inc. has a 52 week low of $42.18 and a 52 week high of $224.31. The firm has a market capitalization of $40.93 billion, a P/E ratio of -21.65 and a beta of 1.40. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40. The business's fifty day moving average price is $199.49 and its two-hundred day moving average price is $159.35.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.04) by ($1.02). During the same quarter in the previous year, the company earned ($1.31) EPS. Equities research analysts predict that Revolution Medicines, Inc. will post -8.87 EPS for the current year.

Analyst Ratings Changes

RVMD has been the topic of several recent analyst reports. Guggenheim raised their price objective on shares of Revolution Medicines from $240.00 to $275.00 and gave the company a "buy" rating in a research report on Friday, August 28th. UBS Group increased their price target on Revolution Medicines from $220.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, August 28th. Raymond James Financial restated a "strong-buy" rating and issued a $248.00 target price on shares of Revolution Medicines in a report on Thursday, August 27th. Stifel Nicolaus lifted their target price on Revolution Medicines from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, September 9th. Finally, Sanford C. Bernstein boosted their target price on Revolution Medicines from $151.00 to $179.00 and gave the company a "market perform" rating in a research report on Friday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $226.17.

Institutional Investors Weigh In On Revolution Medicines

Large investors have recently modified their holdings of the business. Equitable Holdings Inc. bought a new stake in Revolution Medicines during the second quarter valued at about $963,000. State of Wyoming purchased a new position in shares of Revolution Medicines in the 2nd quarter worth approximately $1,769,000. Handelsbanken Fonder AB raised its stake in shares of Revolution Medicines by 243.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 212,275 shares of the company's stock worth $39,755,000 after acquiring an additional 150,500 shares in the last quarter. Eagle Health Investments LP purchased a new stake in shares of Revolution Medicines during the 4th quarter valued at $9,231,000. Finally, Bank of New York Mellon Corp purchased a new stake in Revolution Medicines during the 2nd quarter worth approximately $112,566,000. Institutional investors own 94.34% of the company's stock.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.

Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.

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