Mark Goldsmith Sells 10,020 Shares of Revolution Medicines (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark Goldsmith sold 10,020 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $1,564,322.40. Following the completion of the sale, the insider owned 267,330 shares of the company’s stock, valued at $41,735,559.60. This represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Price Performance

RVMD opened at $162.99 on Friday. The company has a market capitalization of $34.65 billion, a price-to-earnings ratio of -23.05 and a beta of 1.40. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $166.50. The business’s fifty day simple moving average is $147.04 and its 200-day simple moving average is $113.34.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter in the previous year, the company posted ($1.13) earnings per share. On average, equities research analysts anticipate that Revolution Medicines, Inc. will post -7.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Revolution Medicines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Revolution Medicines by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after purchasing an additional 1,056,792 shares in the last quarter. Farallon Capital Management LLC lifted its position in shares of Revolution Medicines by 2.1% during the third quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company’s stock valued at $683,020,000 after buying an additional 300,000 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Revolution Medicines by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock valued at $980,036,000 after buying an additional 947,448 shares in the last quarter. Baker BROS. Advisors LP boosted its holdings in shares of Revolution Medicines by 1.0% in the 3rd quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock valued at $441,565,000 after buying an additional 90,385 shares in the last quarter. Finally, Nextech Invest Ltd. boosted its holdings in shares of Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after buying an additional 1,304,347 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Analyst Ratings Changes

RVMD has been the subject of several recent research reports. Wedbush restated an “outperform” rating on shares of Revolution Medicines in a report on Monday, June 1st. HC Wainwright increased their price objective on shares of Revolution Medicines from $169.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Oppenheimer lifted their price objective on shares of Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Sanford C. Bernstein assumed coverage on shares of Revolution Medicines in a research note on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price objective for the company. Finally, Guggenheim upped their target price on Revolution Medicines to $205.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Revolution Medicines has an average rating of “Buy” and a consensus price target of $123.72.

About Revolution Medicines

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.