Revolution Medicines (NASDAQ:RVMD) Insider Mark A. Goldsmith Sells 13,411 Shares

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 business's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total value of $614,492.02. Following the sale, the insider directly owned 452,309 shares of the company's stock, valued at $20,724,798.38. This represents a 2.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Revolution Medicines Price Performance

NASDAQ:RVMD traded up $0.87 during mid-day trading on Monday, hitting $44.41. 1,768,629 shares of the company traded hands, compared to its average volume of 2,155,438. The stock's fifty day moving average price is $38.65 and its 200-day moving average price is $38.36. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $62.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 11.79 and a current ratio of 11.79.

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

Institutional Investors Weigh In On Revolution Medicines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC raised its position in 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 purchasing an additional 579 shares during the period. Banque Transatlantique SA purchased a new stake in Revolution Medicines during the first quarter valued at approximately $42,000. Quarry LP purchased a new stake in shares of Revolution Medicines in the first quarter worth approximately $50,000. Twin Tree Management LP purchased a new stake in shares of Revolution Medicines in the first quarter worth approximately $58,000. Finally, a16z Perennial Management L.P. purchased a new stake in shares of Revolution Medicines in the second quarter worth approximately $67,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RVMD shares. Truist Financial started coverage on Revolution Medicines in a research note on Friday, September 5th. They issued a "buy" rating and a $99.00 price objective for the company. The Goldman Sachs Group upped their price objective on Revolution Medicines from $65.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Piper Sandler started coverage on Revolution Medicines in a research note on Monday, August 18th. They issued an "overweight" rating and a $75.00 price objective for the company. Wells Fargo & Company upped their price objective on Revolution Medicines from $67.00 to $70.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Finally, Raymond James Financial began coverage on Revolution Medicines in a research report on Friday, September 12th. They issued a "strong-buy" rating and a $72.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $73.67.

Revolution Medicines Company Profile

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.