Mark Goldsmith Sells 20,000 Shares of Revolution Medicines (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark Goldsmith sold 20,000 shares of the stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $70.38, for a total value of $1,407,600.00. Following the completion of the transaction, the insider directly owned 247,863 shares in the company, valued at $17,444,597.94. The trade was a 7.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Revolution Medicines Trading Down 0.9%

Shares of Revolution Medicines stock traded down $0.65 during trading on Thursday, hitting $69.88. 2,351,479 shares of the company were exchanged, compared to its average volume of 1,984,453. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.05 and a quick ratio of 8.05. The firm has a market capitalization of $13.51 billion, a P/E ratio of -13.52 and a beta of 1.25. The firm’s fifty day moving average price is $52.94 and its 200 day moving average price is $43.53. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $72.72.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data 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 period last year, the company earned ($0.94) EPS. As a group, sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Revolution Medicines

Several institutional investors have recently bought and sold shares of the company. S&CO Inc. grew its holdings in Revolution Medicines by 54.5% during the second quarter. S&CO Inc. now owns 14,171 shares of the company’s stock worth $521,000 after purchasing an additional 5,000 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Revolution Medicines in the second quarter valued at approximately $3,639,000. Harbor Capital Advisors Inc. boosted its stake in shares of Revolution Medicines by 64.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 58,323 shares of the company’s stock worth $2,146,000 after acquiring an additional 22,906 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Revolution Medicines during the 1st quarter worth approximately $502,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Revolution Medicines by 6.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 109,004 shares of the company’s stock valued at $3,870,000 after acquiring an additional 6,877 shares during the period. Institutional investors own 94.34% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on RVMD. HC Wainwright boosted their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Royal Bank Of Canada began coverage on Revolution Medicines in a research note on Monday, November 3rd. They issued an “outperform” rating and a $77.00 target price for the company. Needham & Company LLC increased their price target on Revolution Medicines from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. raised their price target on Revolution Medicines from $71.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Wedbush boosted their price objective on Revolution Medicines from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $78.50.

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.