Insider Selling: Revolution Medicines (NASDAQ:RVMD) Director Sells 17,090 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) Director Lorence Kim sold 17,090 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $209.82, for a total transaction of $3,585,823.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Revolution Medicines Stock Performance

Shares of RVMD stock traded down $4.33 during midday trading on Thursday, hitting $203.35. 810,328 shares of the company were exchanged, compared to its average volume of 2,946,601. Revolution Medicines, Inc. has a 52 week low of $42.18 and a 52 week high of $224.31. The firm has a market capitalization of $43.59 billion, a P/E ratio of -23.06 and a beta of 1.40. The firm’s 50 day moving average price is $198.08 and its two-hundred day moving average price is $155.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data 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 in the prior year, the company posted ($1.31) earnings per share. As a group, equities research analysts anticipate that Revolution Medicines, Inc. will post -8.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Oppenheimer lifted their target price on Revolution Medicines from $230.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. TD Cowen raised shares of Revolution Medicines to a “strong-buy” rating in a research report on Monday, August 24th. UBS Group lifted their price objective on shares of Revolution Medicines from $220.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Evercore reissued an “outperform” rating and issued a $320.00 price objective on shares of Revolution Medicines in a report on Thursday, August 27th. Finally, Guggenheim 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 Friday, August 28th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $210.70.

Institutional Trading of Revolution Medicines

A number of institutional investors have recently modified their holdings of RVMD. California State Teachers Retirement System raised its stake in Revolution Medicines by 26,920.9% in the second quarter. California State Teachers Retirement System now owns 44,659,351 shares of the company’s stock valued at $8,363,803,000 after purchasing an additional 44,494,074 shares in the last quarter. Alphabet Inc. acquired a new stake in Revolution Medicines during the second quarter worth about $551,843,000. Norges Bank bought a new position in Revolution Medicines in the 4th quarter valued at about $195,568,000. Avoro Capital Advisors LLC acquired a new position in shares of Revolution Medicines in the 4th quarter valued at approximately $172,840,000. Finally, Polar Capital Holdings Plc lifted its holdings 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 worth $160,398,000 after acquiring an additional 1,535,686 shares during the period. 94.34% of the stock is currently owned by institutional investors.

About Revolution Medicines

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.

Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.