Key Points
- Insider sale: Revolution Medicines insider Mark Goldsmith sold 10,020 shares at an average price of $156.12, totaling about $1.56 million. The company said the sale was to cover tax withholding obligations tied to vesting equity awards.
- Stock performance and valuation: RVMD rose 3.3% and opened at $162.99, near its 52-week high of $166.50. The company has a $34.65 billion market cap and a 50-day moving average of $145.72.
- Analyst sentiment remains positive: Several firms recently raised price targets or reiterated buy/outperform ratings, and the stock currently carries a consensus Buy rating. However, the average target price of $123.72 is below the current trading price.
Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) CFO Jack Anders sold 2,722 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $424,958.64. Following the completion of the sale, the chief financial officer directly owned 123,269 shares of the company's stock, valued at approximately $19,244,756.28. The trade was a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Revolution Medicines Stock Performance
Shares of NASDAQ RVMD opened at $162.99 on Friday. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $34.65 billion, a P/E ratio of -23.05 and a beta of 1.40. Revolution Medicines, Inc. has a 12 month low of $34.00 and a 12 month high of $166.50. The stock has a 50 day moving average of $145.72 and a 200-day moving average of $112.99.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts' consensus estimates of ($1.83) by ($0.46). During the same quarter last year, the company posted ($1.13) earnings per share. As a group, equities research analysts predict that Revolution Medicines, Inc. will post -7.94 EPS for the current year.
Institutional Investors Weigh In On Revolution Medicines
A number of institutional investors have recently modified their holdings of RVMD. Vanguard Group Inc. grew its stake in shares of Revolution Medicines by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company's stock valued at $1,331,739,000 after acquiring an additional 1,056,792 shares in the last quarter. Farallon Capital Management LLC boosted its holdings in Revolution Medicines by 2.1% in the 3rd quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company's stock valued at $683,020,000 after purchasing an additional 300,000 shares during the period. Janus Henderson Group PLC boosted its holdings in 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 purchasing an additional 947,448 shares during the period. Baker BROS. Advisors LP boosted its holdings in 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 purchasing an additional 90,385 shares during the period. Finally, Nextech Invest Ltd. grew its position in shares of Revolution Medicines by 20.7% during the 4th 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 in the last quarter. Institutional investors own 94.34% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. 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 report on Monday, June 1st. Guggenheim upped their price target on shares of Revolution Medicines to $205.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Royal Bank Of Canada upped their price target on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an "outperform" rating in a research note on Tuesday, June 2nd. Wedbush restated an "outperform" rating on shares of Revolution Medicines in a research report on Monday, June 1st. Finally, Piper Sandler boosted their price objective on Revolution Medicines to $172.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has issued 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 target price of $123.72.
View Our Latest Stock Report on RVMD
Revolution Medicines Company Profile
(
Get Free Report)
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.
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