Insider Selling: Revolution Medicines (NASDAQ:RVMD) Insider Sells 13,411 Shares of Stock

Key Points

• Insider Mark Goldsmith sold 13,411 shares of Revolution Medicines stock at an average price of $45.82, totaling approximately $614,492, which indicates a 2.88% decrease in his position.
• Following the insider sale, Revolution Medicines shares experienced a 3.4% increase in trading, reaching a current price of $45.28.
• Brokerages have recently upgraded their ratings and target prices for Revolution Medicines, with Wells Fargo raising theirs from $67 to $70 and several others assigning price targets between $72 and $99.

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) insider Mark A. Goldsmith sold 13,411 shares of the firm's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total value of $614,492.02. Following the completion of the transaction, the insider directly owned 452,309 shares of the company's stock, valued at $20,724,798.38. The trade was a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock traded down $1.68 during trading hours on Friday, reaching $43.54. The company had a trading volume of 2,868,241 shares, compared to its average volume of 2,155,438. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $62.40. The business has a fifty day simple moving average of $38.65 and a 200 day simple moving average of $38.36. The company has a debt-to-equity ratio of 0.13, a current ratio of 11.79 and a quick ratio of 11.79. The firm has a market cap of $8.14 billion, a PE ratio of -9.68 and a beta of 1.12.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($1.31) EPS for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.37). During the same period in the previous year, the company earned ($0.81) earnings per share. Revolution Medicines's revenue was up .0% compared to the same quarter last year. On average, analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Revolution Medicines

Several hedge funds have recently added to or reduced their stakes in RVMD. Lunate Capital Ltd purchased a new position in Revolution Medicines during the 1st quarter valued at about $77,658,000. Norges Bank purchased a new position in Revolution Medicines during the 2nd quarter valued at about $62,584,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of Revolution Medicines during the 1st quarter worth approximately $59,173,000. Nextech Invest Ltd. grew its holdings in shares of Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock worth $332,472,000 after acquiring an additional 1,304,347 shares during the period. Finally, Vestal Point Capital LP purchased a new position in shares of Revolution Medicines during the 2nd quarter worth approximately $44,148,000. Institutional investors own 94.34% of the company's stock.

Wall Street Analyst Weigh In

RVMD has been the topic of a number of recent analyst reports. Guggenheim reiterated a "buy" rating and issued a $80.00 price objective on shares of Revolution Medicines in a research report on Wednesday, June 25th. Wells Fargo & Company lifted their price objective on Revolution Medicines from $67.00 to $70.00 and gave the company an "overweight" rating in a research note on Thursday, September 11th. Lifesci Capital initiated coverage on Revolution Medicines in a research note on Monday, August 18th. They set an "outperform" rating and a $80.00 price objective for the company. Needham & Company LLC lifted their price objective on Revolution Medicines from $56.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, September 11th. Finally, Raymond James Financial initiated coverage on Revolution Medicines in a research note on Friday, September 12th. They set a "strong-buy" rating and a $72.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. Based on data from MarketBeat, Revolution Medicines presently has a consensus rating of "Buy" and a consensus target price of $73.67.

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.