Sushil Patel Sells 5,580 Shares of Revolution Medicines (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) Director Sushil Patel sold 5,580 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $187.99, for a total value of $1,048,984.20. Following the completion of the transaction, the director directly owned 21,656 shares of the company’s stock, valued at approximately $4,071,111.44. This trade represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Revolution Medicines Stock Up 0.9%

RVMD opened at $189.24 on Friday. The company has a market capitalization of $40.23 billion, a P/E ratio of -26.77 and a beta of 1.37. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. The firm’s fifty day moving average price is $155.05 and its two-hundred day moving average price is $120.07. Revolution Medicines, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $193.10.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the prior year, the business posted ($1.13) EPS. On average, analysts anticipate that Revolution Medicines, Inc. will post -7.94 EPS for the current year.

Institutional Investors Weigh In On Revolution Medicines

A number of hedge funds have recently made changes to their positions in RVMD. Vanguard Group Inc. boosted its position in 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 buying an additional 1,056,792 shares in the last quarter. Farallon Capital Management LLC grew its stake in Revolution Medicines by 2.1% during the third quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company’s stock worth $683,020,000 after buying an additional 300,000 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Revolution Medicines by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock worth $980,036,000 after buying an additional 947,448 shares in the last quarter. Baker BROS. Advisors LP increased its holdings in shares of Revolution Medicines by 1.0% during the third quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock worth $441,565,000 after buying an additional 90,385 shares in the last quarter. Finally, Nextech Invest Ltd. raised its stake in shares of Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after acquiring an additional 1,304,347 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on RVMD. Evercore reissued an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Jefferies Financial Group started coverage on Revolution Medicines in a report on Monday, March 16th. They set a “buy” rating on the stock. Royal Bank Of Canada upped their price objective on Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Wedbush increased their target price on Revolution Medicines from $165.00 to $181.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Sanford C. Bernstein started coverage on 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. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $135.39.

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.