Revolution Medicines (NASDAQ:RVMD) Director Lorence Kim Sells 56,000 Shares

Revolution Medicines, Inc. (NASDAQ:RVMD) Director Lorence Kim sold 56,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $203.24, for a total transaction of $11,381,440.00. Following the sale, the director owned 17,090 shares of the company’s stock, valued at approximately $3,473,371.60. The trade was a 76.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Revolution Medicines Price Performance

Revolution Medicines stock opened at $209.23 on Thursday. The business’s 50 day simple moving average is $195.72 and its 200 day simple moving average is $151.30. Revolution Medicines, Inc. has a 12 month low of $38.49 and a 12 month high of $224.31. The company has a market cap of $44.85 billion, a price-to-earnings ratio of -23.72 and a beta of 1.40. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same period last year, the firm earned ($1.31) earnings per share. Sell-side analysts forecast that Revolution Medicines, Inc. will post -8.84 EPS for the current year.

Hedge Funds Weigh In On Revolution Medicines

Several hedge funds have recently bought and sold shares of the company. Nextech Invest Ltd. lifted its stake in Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares in the last quarter. Millennium Management LLC raised its position in shares of Revolution Medicines by 681.8% in the first quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock worth $5,529,000 after buying an additional 136,353 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Revolution Medicines by 14.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company’s stock worth $10,615,000 after buying an additional 37,345 shares in the last quarter. Invesco Ltd. boosted its stake in Revolution Medicines by 19.3% during the second quarter. Invesco Ltd. now owns 227,019 shares of the company’s stock valued at $8,352,000 after buying an additional 36,760 shares during the period. Finally, Jump Financial LLC boosted its stake in Revolution Medicines by 87.9% during the second quarter. Jump Financial LLC now owns 15,258 shares of the company’s stock valued at $561,000 after buying an additional 7,137 shares during the period. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Wall Street Analysts Forecast Growth

RVMD has been the subject of a number of research reports. Needham & Company LLC increased their target price on shares of Revolution Medicines from $240.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday. Truist Financial boosted their price target on shares of Revolution Medicines from $231.00 to $239.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Raymond James Financial restated a “strong-buy” rating and set a $248.00 price target on shares of Revolution Medicines in a research note on Thursday, August 27th. UBS Group raised their price objective on shares of Revolution Medicines from $220.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $200.74.

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.