Revolution Medicines (NASDAQ:RVMD) Insider Stephen Michael Kelsey Sells 4,302 Shares

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Stephen Michael Kelsey sold 4,302 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $427,962.96. Following the completion of the sale, the insider directly owned 295,398 shares of the company’s stock, valued at $29,386,193.04. The trade was a 1.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Revolution Medicines Stock Up 1.2%

Shares of RVMD stock traded up $1.18 during trading hours on Thursday, reaching $99.29. The company had a trading volume of 1,485,201 shares, compared to its average volume of 2,335,170. The company has a market capitalization of $19.68 billion, a P/E ratio of -16.80 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.14 and a current ratio of 7.14. Revolution Medicines, Inc. has a twelve month low of $29.17 and a twelve month high of $124.49. The stock’s fifty day simple moving average is $103.58 and its 200 day simple moving average is $76.24.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($1.86) EPS for the quarter, missing the consensus estimate of ($1.56) by ($0.30). During the same period in the previous year, the business earned ($1.12) earnings per share. As a group, sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RVMD shares. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Thursday, January 22nd. Benchmark reiterated an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Jefferies Financial Group started coverage on Revolution Medicines in a research note on Monday. They set a “buy” rating for the company. UBS Group initiated coverage on Revolution Medicines in a research report on Friday, February 27th. They set a “buy” rating on the stock. Finally, Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a research note on Friday, January 9th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Revolution Medicines has an average rating of “Buy” and a consensus target price of $78.94.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RVMD. Indiana Trust & Investment Management Co bought a new stake in shares of Revolution Medicines in the 4th quarter worth about $32,000. Global Retirement Partners LLC lifted its position in shares of Revolution Medicines by 1,002.8% during the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after purchasing an additional 361 shares during the last quarter. Torren Management LLC bought a new position in shares of Revolution Medicines during the fourth quarter worth about $33,000. Arax Advisory Partners acquired a new position in Revolution Medicines in the fourth quarter worth about $38,000. Finally, GAMMA Investing LLC increased its holdings in Revolution Medicines by 45.1% in the third quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock valued at $39,000 after buying an additional 260 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors.

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.