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

Revolution Medicines, Inc. (NASDAQ:RVMD) was the target of unusually large options trading on Thursday. Traders purchased 16,174 call options on the stock. This represents an increase of approximately 160% compared to the typical daily volume of 6,229 call options.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RVMD. Piper Sandler increased their price objective on shares of Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. UBS Group initiated coverage on shares of Revolution Medicines in a report on Friday, February 27th. They issued a “buy” rating for the company. Jefferies Financial Group initiated coverage on shares of Revolution Medicines in a research note on Monday, March 16th. They set a “buy” rating on the stock. Guggenheim lifted their price target on shares of Revolution Medicines to $205.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Oppenheimer boosted their price objective on shares of Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Revolution Medicines currently has a consensus rating of “Buy” and a consensus target price of $123.72.

Revolution Medicines Trading Up 4.6%

Shares of Revolution Medicines stock traded up $7.75 during trading hours on Thursday, reaching $177.52. The stock had a trading volume of 3,198,935 shares, compared to its average volume of 3,308,184. The firm has a market capitalization of $37.74 billion, a price-to-earnings ratio of -25.09 and a beta of 1.40. Revolution Medicines has a 1 year low of $34.00 and a 1 year high of $184.39. 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 50 day simple moving average of $150.56 and a two-hundred day simple moving average of $115.53.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results 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 period in the previous year, the business earned ($1.13) EPS. As a group, equities research analysts anticipate that Revolution Medicines will post -7.94 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Mark A. Goldsmith sold 10,020 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total transaction of $1,564,322.40. Following the transaction, the insider directly owned 267,330 shares in the company, valued at approximately $41,735,559.60. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Margaret A. Horn sold 29,600 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total value of $4,739,552.00. Following the completion of the sale, the chief operating officer directly owned 154,647 shares in the company, valued at approximately $24,762,077.64. The trade was a 16.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 226,917 shares of company stock worth $35,065,702 over the last ninety days. Company insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

Large investors have recently made changes to their positions in the business. Global Retirement Partners LLC boosted its position in Revolution Medicines by 1,002.8% during the 4th 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 period. Indiana Trust & Investment Management Co purchased a new position in Revolution Medicines in the fourth quarter valued at about $32,000. Torren Management LLC acquired a new position in shares of Revolution Medicines during the fourth quarter worth about $33,000. Arax Advisory Partners acquired a new position in shares of Revolution Medicines during the fourth quarter worth about $38,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Revolution Medicines during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

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.