Stephen Michael Kelsey Sells 100,000 Shares of Revolution Medicines (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Stephen Michael Kelsey sold 100,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $44.08, for a total value of $4,408,000.00. Following the transaction, the insider owned 289,414 shares in the company, valued at approximately $12,757,369.12. This trade represents a 25.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Stephen Michael Kelsey also recently made the following trade(s):

• On Monday, September 15th, Stephen Michael Kelsey sold 25,000 shares of Revolution Medicines stock. The shares were sold at an average price of $45.97, for a total value of $1,149,250.00.

Revolution Medicines Price Performance

NASDAQ RVMD opened at $44.70 on Wednesday. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $62.40. The stock’s 50-day moving average is $38.30 and its two-hundred day moving average is $38.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 11.79 and a quick ratio of 11.79. The firm has a market cap of $8.36 billion, a P/E ratio of -9.93 and a beta of 1.12.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, August 6th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.37). During the same quarter in the prior year, the company posted ($0.81) earnings per share. Revolution Medicines’s revenue for the quarter was up .0% on a year-over-year basis. On average, analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Revolution Medicines

A number of institutional investors have recently added to or reduced their stakes in RVMD. Osaic Holdings Inc. raised its stake in shares of Revolution Medicines by 41.7% in the second quarter. Osaic Holdings Inc. now owns 3,487 shares of the company’s stock valued at $128,000 after acquiring an additional 1,027 shares during the last quarter. Marex Group plc bought a new position in shares of Revolution Medicines in the second quarter valued at approximately $284,000. Hudson Bay Capital Management LP bought a new position in shares of Revolution Medicines in the second quarter valued at approximately $1,124,000. CANADA LIFE ASSURANCE Co raised its stake in shares of Revolution Medicines by 14.4% in the second quarter. CANADA LIFE ASSURANCE Co now owns 34,766 shares of the company’s stock valued at $1,282,000 after acquiring an additional 4,386 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Revolution Medicines by 592.2% in the second quarter. Tower Research Capital LLC TRC now owns 71,534 shares of the company’s stock valued at $2,632,000 after acquiring an additional 61,199 shares during the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RVMD has been the topic of several recent research reports. Truist Financial initiated coverage on Revolution Medicines in a report on Friday, September 5th. They set a “buy” rating and a $99.00 target price on the stock. Guggenheim reiterated a “buy” rating and issued a $80.00 price objective on shares of Revolution Medicines in a research note on Wednesday, June 25th. Wedbush lifted their price objective on Revolution Medicines from $73.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, September 11th. Piper Sandler began coverage on Revolution Medicines in a research note on Monday, August 18th. They issued an “overweight” rating and a $75.00 price objective on the stock. Finally, Raymond James Financial began coverage on Revolution Medicines in a research note on Friday, September 12th. They issued a “strong-buy” rating and a $72.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company’s stock. According to MarketBeat, Revolution Medicines presently has a consensus rating of “Buy” and a consensus price target of $73.67.

Revolution Medicines Company Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company’s research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.