Insider Selling: Revolution Medicines (NASDAQ:RVMD) Insider Sells $651,801.00 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Stephen Michael Kelsey sold 4,175 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $651,801.00. Following the completion of the sale, the insider owned 291,876 shares of the company’s stock, valued at $45,567,681.12. The trade was a 1.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $162.99 on Friday. The stock has a market cap of $34.65 billion, a PE ratio of -23.05 and a beta of 1.40. The business has a fifty day simple moving average of $147.04 and a 200-day simple moving average of $113.34. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines, Inc. has a 12 month low of $34.00 and a 12 month high of $166.50.

Revolution Medicines (NASDAQ:RVMD) last issued 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 firm posted ($1.13) earnings per share. On average, sell-side analysts anticipate that Revolution Medicines, Inc. will post -7.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on RVMD shares. Piper Sandler lifted their target price on Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Wedbush reissued an “outperform” rating on shares of Revolution Medicines in a research report on Monday, June 1st. Stifel Nicolaus restated a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. UBS Group started coverage on shares of Revolution Medicines in a research report on Friday, February 27th. They set a “buy” rating on the stock. Finally, Royal Bank Of Canada upped their price objective 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. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $123.72.

Institutional Trading of Revolution Medicines

Several large investors have recently added to or reduced their stakes in the business. Meeder Advisory Services Inc. boosted its stake in Revolution Medicines by 3.0% during the first quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock worth $401,000 after buying an additional 120 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Revolution Medicines by 1.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock valued at $802,000 after buying an additional 125 shares during the period. Deutsche Bank AG raised its stake in shares of Revolution Medicines by 0.4% in the 4th quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock valued at $2,566,000 after buying an additional 130 shares in the last quarter. Signaturefd LLC raised its stake in shares of Revolution Medicines by 33.1% in the 4th quarter. Signaturefd LLC now owns 656 shares of the company’s stock valued at $52,000 after buying an additional 163 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Revolution Medicines by 57.2% during the 4th quarter. Allworth Financial LP now owns 577 shares of the company’s stock worth $46,000 after acquiring an additional 210 shares during the period. 94.34% of the stock is owned by institutional investors.

Revolution Medicines Company Profile

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.