Insider Selling: Revolution Medicines (NASDAQ:RVMD) Insider Sells $4,504,800.00 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark Goldsmith sold 60,000 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $75.08, for a total value of $4,504,800.00. Following the completion of the transaction, the insider directly owned 247,863 shares in the company, valued at approximately $18,609,554.04. This represents a 19.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Revolution Medicines Stock Up 0.3%

Revolution Medicines stock opened at $77.78 on Monday. The firm has a market cap of $15.04 billion, a price-to-earnings ratio of -15.04 and a beta of 0.96. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $78.17. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.05 and a current ratio of 8.05. The firm has a 50 day moving average price of $57.09 and a two-hundred day moving average price of $45.28.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($1.61) EPS for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.22). During the same quarter in the prior year, the company earned ($0.94) EPS. Equities analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Analyst Upgrades and Downgrades

RVMD has been the subject of several research analyst reports. HC Wainwright lifted their price objective on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. The Goldman Sachs Group upped their target price on Revolution Medicines from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Royal Bank Of Canada assumed coverage on Revolution Medicines in a report on Monday, November 3rd. They issued an “outperform” rating and a $77.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research note on Wednesday, October 8th. Finally, National Bankshares set a $80.00 price target on Revolution Medicines in a report on Friday, October 17th. Three investment 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, Revolution Medicines currently has an average rating of “Buy” and an average price target of $78.50.

Institutional Investors Weigh In On Revolution Medicines

A number of hedge funds have recently added to or reduced their stakes in RVMD. Nextech Invest Ltd. raised its position in shares of Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares during the period. TD Asset Management Inc raised its holdings in Revolution Medicines by 15.8% during the first quarter. TD Asset Management Inc now owns 325,876 shares of the company’s stock worth $11,523,000 after buying an additional 44,490 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Revolution Medicines by 20.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,108 shares of the company’s stock worth $1,312,000 after buying an additional 6,262 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Revolution Medicines by 37.4% in the first quarter. Mackenzie Financial Corp now owns 8,321 shares of the company’s stock valued at $294,000 after buying an additional 2,266 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Revolution Medicines during the first quarter valued at about $1,962,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

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.