Revolution Medicines (NASDAQ:RVMD) Insider Mark Goldsmith Sells 12,871 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark Goldsmith sold 12,871 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $1,280,407.08. Following the sale, the insider directly owned 276,698 shares in the company, valued at approximately $27,525,917.04. This trade represents a 4.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Revolution Medicines Stock Up 1.2%

RVMD stock traded up $1.18 during trading on Thursday, reaching $99.29. 1,485,201 shares of the company’s stock were exchanged, compared to its average volume of 2,335,170. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $124.49. The company’s fifty day moving average price is $103.58 and its 200-day moving average price is $76.24. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.16.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($1.86) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.30). During the same period last year, the business earned ($1.12) EPS. On average, sell-side analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RVMD has been the subject of several recent research reports. Evercore raised shares of Revolution Medicines to a “strong-buy” rating in a research note on Wednesday, February 25th. Wedbush reissued an “outperform” rating on shares of Revolution Medicines in a research note on Friday, January 9th. Benchmark reaffirmed an “overweight” rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. UBS Group started coverage on Revolution Medicines in a report on Friday, February 27th. They issued a “buy” rating on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Revolution Medicines in a report on Monday. They set a “buy” rating for the company. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $78.94.

Institutional Investors Weigh In On Revolution Medicines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. lifted its position in Revolution Medicines by 82.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 598 shares of the company’s stock worth $48,000 after acquiring an additional 271 shares during the last quarter. Avoro Capital Advisors LLC bought a new position in shares of Revolution Medicines during the fourth quarter valued at $172,840,000. Corient Private Wealth LLC acquired a new position in shares of Revolution Medicines in the 4th quarter worth approximately $215,000. Flax Pond Capital LLC bought a new position in shares of Revolution Medicines in the fourth quarter valued at about $632,000. Finally, Seven Fleet Capital Management LP bought a new stake in shares of Revolution Medicines during the fourth quarter valued at approximately $5,241,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Company Profile

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.