Insider Selling: Revolution Medicines (NASDAQ:RVMD) CFO Sells $424,958.64 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) CFO Jack Anders sold 2,722 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total transaction of $424,958.64. Following the completion of the sale, the chief financial officer owned 123,269 shares in the company, valued at $19,244,756.28. This represents a 2.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Price Performance

Shares of RVMD opened at $162.99 on Friday. The firm has a market cap of $34.65 billion, a PE ratio of -23.05 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. The firm has a fifty day simple moving average of $147.04 and a two-hundred day simple moving average of $113.34. Revolution Medicines, Inc. has a 1-year low of $34.00 and a 1-year high of $166.50.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter in the previous year, the company earned ($1.13) earnings per share. On average, equities analysts anticipate that Revolution Medicines, Inc. will post -7.94 EPS for the current year.

Hedge Funds Weigh In On Revolution Medicines

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

Analyst Ratings Changes

A number of research analysts have weighed in on RVMD shares. Oppenheimer increased their target price on Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Jefferies Financial Group started coverage on Revolution Medicines in a research note on Monday, March 16th. They set a “buy” rating for the company. Guggenheim upped their price target on shares of Revolution Medicines to $205.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. UBS Group began coverage on shares of Revolution Medicines in a research note on Friday, February 27th. They issued a “buy” rating on the stock. Finally, Evercore reissued an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Revolution Medicines currently has a consensus rating of “Buy” and a consensus target price of $123.72.

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.