Key Points
- Insider sale: Mark Goldsmith sold 60,000 shares of Revolution Medicines (NASDAQ:RVMD) on Nov. 25 at an average price of $75.08, generating $4,504,800 and reducing his stake by 19.49% to 247,863 shares valued at about $18.61M.
- Stock and analyst outlook: RVMD opened at $77.78, has a market cap of $15.04B and 50-/200-day moving averages of $57.09/$45.20, and carries a consensus "Buy" rating with an average price target of $78.50.
- Business focus: Revolution Medicines is a clinical-stage precision oncology company developing RAS(ON) inhibitors and companion therapies for RAS-addicted cancers.
Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) insider Mark Goldsmith sold 60,000 shares of Revolution Medicines 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 represents a 19.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Revolution Medicines Stock Performance
Shares of RVMD opened at $77.78 on Friday. The company has a 50-day moving average of $57.09 and a two-hundred day moving average of $45.20. The stock has a market cap of $15.04 billion, a price-to-earnings ratio of -15.04 and a beta of 1.25. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.05 and a quick ratio of 8.05. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $78.17.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.39) by ($0.22). During the same quarter last year, the business posted ($0.94) EPS. On average, equities research analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of RVMD. S&CO Inc. boosted its stake in shares of Revolution Medicines by 54.5% during the 2nd quarter. S&CO Inc. now owns 14,171 shares of the company's stock worth $521,000 after acquiring an additional 5,000 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Revolution Medicines in the 2nd quarter worth approximately $3,639,000. Harbor Capital Advisors Inc. boosted its position in Revolution Medicines by 64.7% during the second quarter. Harbor Capital Advisors Inc. now owns 58,323 shares of the company's stock worth $2,146,000 after purchasing an additional 22,906 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Revolution Medicines by 7.6% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 71,311 shares of the company's stock valued at $2,624,000 after purchasing an additional 5,060 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Revolution Medicines in the first quarter valued at approximately $502,000. Institutional investors and hedge funds own 94.34% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. Truist Financial began coverage on Revolution Medicines in a research report on Friday, September 5th. They issued a "buy" rating and a $99.00 target price for the company. Raymond James Financial increased their price objective on Revolution Medicines from $72.00 to $76.00 and gave the stock a "strong-buy" rating in a research note on Friday, October 17th. Wedbush lifted their target price on shares of Revolution Medicines from $77.00 to $80.00 and gave the company an "outperform" rating in a research note on Thursday, November 6th. HC Wainwright boosted their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a report on Thursday, November 6th. Finally, National Bankshares set a $80.00 price objective on Revolution Medicines in a report on Friday, October 17th. Three 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. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $78.50.
Read Our Latest Analysis on Revolution Medicines
About Revolution Medicines
(
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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