Mark Goldsmith Sells 60,000 Shares of Revolution Medicines (NASDAQ:RVMD) Stock

Mark Goldsmith, an insider at Revolution Medicines, sold 60,000 shares of the company at $75.08 each, totaling $4,504,800. This sale reduced his ownership by 19.49%, leaving him with 247,863 shares valued at $18,609,554.04. The transaction was disclosed in an SEC filing. Revolution Medicines' stock opened at $77.58, with a market cap of $15 billion. Analysts have given the stock a consensus 'Buy' rating with a target price of $78.50.

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) insider Mark Goldsmith sold 60,000 shares of the firm's stock in a transaction dated 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 $18,609,554.04. This trade represents a 19.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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Revolution Medicines Trading Up 1.7%

Shares of NASDAQ:RVMD opened at $77.58 on Friday. The stock has a 50 day moving average of $56.41 and a 200 day moving average of $44.95. The company has a market cap of $15.00 billion, a PE ratio of -15.01 and a beta of 1.25. Revolution Medicines, Inc. has a 12-month low of $29.17 and a 12-month high of $78.17. The company has a current ratio of 8.05, a quick ratio of 8.05 and a debt-to-equity ratio of 0.16.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its earnings results 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 period in the prior year, the company posted ($0.94) EPS. As a group, equities research analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Analyst Ratings Changes

RVMD has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Revolution Medicines from $67.00 to $70.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Wolfe Research started coverage on Revolution Medicines in a research report on Tuesday, November 18th. They issued an "outperform" rating and a $75.00 price objective on the stock. Stifel Nicolaus began coverage on Revolution Medicines in a research report on Wednesday, October 15th. They set a "buy" rating and a $85.00 target price for the company. HC Wainwright lifted their target price on Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a research note on Thursday, November 6th. Finally, Mizuho initiated coverage on Revolution Medicines in a research note on Tuesday, October 21st. They issued an "outperform" rating and a $90.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $78.50.

View Our Latest Analysis on RVMD

Institutional Investors Weigh In On Revolution Medicines

Hedge funds have recently made changes to their positions in the company. CWM LLC grew its holdings in Revolution Medicines by 171.3% during the 2nd quarter. CWM LLC now owns 917 shares of the company's stock valued at $34,000 after buying an additional 579 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Revolution Medicines by 45.1% during the 3rd quarter. GAMMA Investing LLC now owns 837 shares of the company's stock worth $39,000 after acquiring an additional 260 shares in the last quarter. Banque Transatlantique SA bought a new position in shares of Revolution Medicines during the 1st quarter valued at approximately $42,000. Quarry LP purchased a new position in shares of Revolution Medicines in the first quarter valued at $50,000. Finally, Twin Tree Management LP bought a new stake in Revolution Medicines in the first quarter worth $58,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Company Profile

(Get Free Report)

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.

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