Revolution Medicines Target of Unusually Large Options Trading (NASDAQ:RVMD)

Revolution Medicines, Inc. (NASDAQ:RVMD) was the target of unusually large options trading on Thursday. Stock investors acquired 16,174 call options on the stock. This is an increase of 160% compared to the typical daily volume of 6,229 call options.

Revolution Medicines Price Performance

NASDAQ RVMD opened at $182.08 on Friday. The company has a 50-day moving average price of $151.78 and a two-hundred day moving average price of $116.68. Revolution Medicines has a 52 week low of $34.00 and a 52 week high of $184.39. The stock has a market cap of $38.71 billion, a price-to-earnings ratio of -25.75 and a beta of 1.40. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period last year, the business posted ($1.13) earnings per share. Analysts forecast that Revolution Medicines will post -7.94 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RVMD shares. Sanford C. Bernstein began coverage on shares of Revolution Medicines in a research report on Thursday, May 21st. They set a “market perform” rating and a $151.00 target price for the company. Oppenheimer boosted their price objective on shares of Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Jefferies Financial Group began coverage on shares of Revolution Medicines in a research report on Monday, March 16th. They issued a “buy” rating for the company. Truist Financial assumed coverage on shares of Revolution Medicines in a research note on Monday, May 18th. They issued a “buy” rating and a $179.00 target price on the stock. Finally, UBS Group initiated coverage on shares of Revolution Medicines in a report on Friday, February 27th. They set a “buy” rating on the stock. 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 assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $123.72.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 120,000 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the completion of the sale, the insider owned 276,698 shares of the company’s stock, valued at approximately $41,529,602.82. The trade was a 30.25% 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. Also, insider Stephen Michael Kelsey sold 4,175 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $651,801.00. Following the sale, the insider directly owned 291,876 shares of the company’s stock, valued at approximately $45,567,681.12. This trade represents a 1.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 246,917 shares of company stock worth $38,432,302 over the last ninety days. 7.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RVMD. General Atlantic L.P. purchased a new position in Revolution Medicines during the third quarter valued at approximately $115,556,000. Norges Bank acquired a new stake in shares of Revolution Medicines during the 4th quarter valued at $195,568,000. Avoro Capital Advisors LLC purchased a new position in shares of Revolution Medicines during the 4th quarter valued at $172,840,000. UBS Group AG increased its stake in shares of Revolution Medicines by 183.6% in the fourth quarter. UBS Group AG now owns 3,087,937 shares of the company’s stock worth $245,954,000 after acquiring an additional 1,998,972 shares during the last quarter. Finally, Polar Capital Holdings Plc increased its stake in shares of Revolution Medicines by 321.2% in the fourth quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company’s stock worth $160,398,000 after acquiring an additional 1,535,686 shares during the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

About Revolution Medicines

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.