Mark A. Goldsmith, President and CEO of Revolution Medicines, Inc. (NASDAQ:RVMD), recently sold shares of the company's stock. According to a filing with the Securities and Exchange Commission, Goldsmith sold 11,714 shares on December 16, 2024, at an average price of $45.4038 per share, totaling approximately $531,860. The transaction comes as RVMD stock has shown remarkable strength, gaining over 71% in the past year. According to InvestingPro analysis, the company currently commands a market capitalization of $7.26 billion, with analysts maintaining a Strong Buy consensus.
Following this transaction, Goldsmith holds 325,056 shares directly, which includes 167,125 restricted stock units (RSUs). Additionally, he holds shares indirectly through various trusts, including the Jonathan Goldsmith Revocable Trust, the Rebecca Eve Goldsmith Trust, and the Mark A. Goldsmith and Anne E. Midler 2002 Revocable Living Trust. InvestingPro subscribers have access to 8 additional key insights about RVMD, including detailed analysis of the company's financial health and growth prospects.
The stock sale was made under a pre-arranged trading plan designed to satisfy tax withholding obligations upon the vesting of RSUs. The company maintains a strong financial position, with InvestingPro data showing more cash than debt on its balance sheet and liquid assets exceeding short-term obligations.
In other recent news, Revolution Medicines has seen significant developments. The clinical-stage oncology company completed a public offering that raised around $862.5 million, strengthening its financial position for future growth. This development led Needham to adjust its stock price target for Revolution, setting a new target at $62, down from $68, while maintaining a Buy rating on the stock.
Guggenheim also maintained its Buy rating on Revolution shares and raised the price target to $87, following a significant clinical data update on Revolution's RAS inhibitor pipeline. The pipeline has shown positive progress in treatments for pancreatic ductal adenocarcinoma, non-small cell lung cancer, and colorectal cancer.
Revolution Medicines also initiated a public offering of common stock valued at up to $600 million. The company's RAS inhibitor pipeline, including RMC-6236 and RMC-6291, has demonstrated promising safety and efficacy in various cancer treatments.
These are among the recent developments in Revolution Medicines' ongoing clinical programs. The company's RMC-6236-001 study demonstrated positive safety and tolerability in pancreatic ductal adenocarcinoma treatment, and the combination of RMC-6236 with pembrolizumab showed potential, as did the combination of RMC-6236 with RMC-6291 in treating advanced RAS G12C mutant solid tumors.
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