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

Revolution Medicines, Inc. (NASDAQ:RVMD) was the recipient of some unusual options trading on Friday. Investors acquired 6,313 put options on the stock. This represents an increase of 154% compared to the average volume of 2,484 put options.

Revolution Medicines Trading Up 0.0%

Shares of RVMD stock traded up $0.03 on Friday, hitting $123.30. 385,440 shares of the company’s stock traded hands, compared to its average volume of 6,644,129. The stock has a market capitalization of $23.84 billion, a price-to-earnings ratio of -23.82 and a beta of 0.99. The company’s fifty day simple moving average is $81.22 and its 200 day simple moving average is $56.26. Revolution Medicines has a one year low of $29.17 and a one year high of $124.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.05 and a current ratio of 8.05.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same quarter last year, the firm posted ($0.94) EPS. Equities analysts forecast that Revolution Medicines will post -3.49 EPS for the current year.

Insider Buying and Selling

In other news, insider Mark A. Goldsmith sold 15,394 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $76.82, for a total value of $1,182,567.08. Following the completion of the transaction, the insider directly owned 232,469 shares in the company, valued at approximately $17,858,268.58. This trade represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Michael Kelsey sold 5,447 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $76.82, for a total transaction of $418,438.54. Following the transaction, the insider directly owned 278,600 shares of the company’s stock, valued at approximately $21,402,052. This represents a 1.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 243,792 shares of company stock valued at $19,757,740. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RVMD. CWM LLC increased its stake in shares of Revolution Medicines by 171.3% in the second quarter. CWM LLC now owns 917 shares of the company’s stock worth $34,000 after buying an additional 579 shares during the period. GAMMA Investing LLC grew its holdings in Revolution Medicines by 45.1% in the 3rd quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock worth $39,000 after acquiring an additional 260 shares during the last quarter. a16z Perennial Management L.P. purchased a new position in shares of Revolution Medicines in the second quarter valued at about $67,000. AlphaQuest LLC bought a new position in shares of Revolution Medicines during the second quarter valued at about $73,000. Finally, Danske Bank A S bought a new position in shares of Revolution Medicines during the third quarter valued at about $98,000. Institutional investors own 94.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RVMD shares. HC Wainwright increased their price objective on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Wolfe Research assumed coverage on Revolution Medicines in a report on Tuesday, November 18th. They issued an “outperform” rating and a $75.00 price target on the stock. Royal Bank Of Canada initiated coverage on Revolution Medicines in a report on Monday, November 3rd. They set an “outperform” rating and a $77.00 price objective for the company. UBS Group upgraded shares of Revolution Medicines to a “strong-buy” rating in a research report on Thursday, December 4th. Finally, National Bankshares set a $80.00 price objective on shares of Revolution Medicines in a report on Friday, October 17th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Revolution Medicines presently has an average rating of “Buy” and an average price target of $78.94.

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.