Key Points
- Insider sale: Mark Goldsmith sold 20,000 shares at an average of $65.07 for $1.3014M, cutting his position by 7.47% to 247,863 shares (≈$16.13M); the trade was disclosed on the SEC Form 4.
- Shares jumped 5.2% to $67.75 on heavy volume; the company has a market cap of about $13.1B and a consensus analyst rating of Buy with an average price target of $78.71 after several target upgrades.
- Fundamentals: Revolution reported an EPS miss of ($1.61) vs. ($1.39) expected for the quarter, and analysts forecast a -3.49 EPS for the current year.
Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) insider Mark Goldsmith sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $65.07, for a total value of $1,301,400.00. Following the completion of the transaction, the insider owned 247,863 shares of the company's stock, valued at approximately $16,128,445.41. The trade was a 7.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Revolution Medicines Stock Up 5.2%
Revolution Medicines stock traded up $3.37 on Friday, hitting $67.75. 3,957,968 shares of the stock traded hands, compared to its average volume of 2,469,948. Revolution Medicines, Inc. has a 1 year low of $29.17 and a 1 year high of $69.02. The firm has a market cap of $13.10 billion, a P/E ratio of -13.10 and a beta of 1.25. The company has a current ratio of 8.05, a quick ratio of 8.05 and a debt-to-equity ratio of 0.16. The business's fifty day simple moving average is $51.19 and its 200 day simple moving average is $42.89.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same period in the prior year, the company posted ($0.94) EPS. As a group, sell-side analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.
Analysts Set New Price Targets
A number of analysts have recently issued reports on RVMD shares. Truist Financial initiated coverage on shares of Revolution Medicines in a report on Friday, September 5th. They set a "buy" rating and a $99.00 price target on the stock. HC Wainwright raised their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a research note on Thursday, November 6th. Royal Bank Of Canada started coverage on shares of Revolution Medicines in a report on Monday, November 3rd. They issued an "outperform" rating and a $77.00 target price for the company. The Goldman Sachs Group raised their price target on Revolution Medicines from $65.00 to $73.00 and gave the company a "buy" rating in a report on Friday, September 12th. Finally, Wedbush upped their price objective on Revolution Medicines from $77.00 to $80.00 and gave the stock an "outperform" rating in a research note on Thursday, November 6th. Two equities research 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's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $78.71.
View Our Latest Analysis on RVMD
Institutional Investors Weigh In On Revolution Medicines
Large investors have recently made changes to their positions in the company. S&CO Inc. grew its position in shares of Revolution Medicines by 54.5% in the second quarter. S&CO Inc. now owns 14,171 shares of the company's stock valued at $521,000 after purchasing an additional 5,000 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Revolution Medicines in the second quarter valued at approximately $3,639,000. Harbor Capital Advisors Inc. increased its holdings in shares of Revolution Medicines by 64.7% in the second quarter. Harbor Capital Advisors Inc. now owns 58,323 shares of the company's stock valued at $2,146,000 after purchasing an additional 22,906 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Revolution Medicines during the first quarter worth approximately $502,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Revolution Medicines by 6.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 109,004 shares of the company's stock worth $3,870,000 after buying an additional 6,877 shares during the last quarter. 94.34% of the stock is owned by 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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