Insider Selling: Revolution Medicines (NASDAQ:RVMD) Director Sells $1,048,984.20 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) Director Sushil Patel sold 5,580 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $187.99, for a total value of $1,048,984.20. Following the sale, the director directly owned 21,656 shares in the company, valued at $4,071,111.44. This trade represents a 20.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Revolution Medicines Price Performance

Shares of RVMD stock traded up $0.23 during mid-day trading on Wednesday, reaching $187.51. The stock had a trading volume of 2,078,623 shares, compared to its average volume of 3,389,673. The company has a market cap of $39.86 billion, a P/E ratio of -26.52 and a beta of 1.40. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $193.10. The business has a 50-day simple moving average of $153.42 and a 200 day simple moving average of $118.52. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD) last announced 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 prior year, the business posted ($1.13) EPS. On average, sell-side analysts anticipate that Revolution Medicines, Inc. will post -7.94 earnings per share for the current year.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on RVMD shares. Jefferies Financial Group began coverage on Revolution Medicines in a research report on Monday, March 16th. They set a “buy” rating for the company. Oppenheimer increased their price objective on Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. HC Wainwright lifted their price objective on Revolution Medicines from $169.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Needham & Company LLC boosted their target price on shares of Revolution Medicines from $183.00 to $235.00 and gave the company a “buy” rating in a research note on Monday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $134.50.

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.