Revolution Medicines (NASDAQ:RVMD) Insider Stephen Michael Kelsey Sells 92,531 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Stephen Kelsey sold 92,531 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $202.36, for a total value of $18,724,573.16. Following the completion of the sale, the insider owned 291,876 shares in the company, valued at $59,064,027.36. The trade was a 24.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Revolution Medicines Stock Down 0.1%

Revolution Medicines stock opened at $204.86 on Wednesday. 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, Inc. has a 52-week low of $42.18 and a 52-week high of $224.31. The firm has a 50 day moving average price of $199.25 and a two-hundred day moving average price of $158.02. The firm has a market cap of $43.91 billion, a price-to-earnings ratio of -23.23 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly 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 in the previous year, the business posted ($1.31) EPS. Equities analysts predict that Revolution Medicines, Inc. will post -8.87 EPS for the current year.

Hedge Funds Weigh In On Revolution Medicines

Institutional investors have recently made changes to their positions in the stock. Contravisory Investment Management Inc. acquired a new stake in shares of Revolution Medicines in the 2nd quarter valued at about $32,000. Johnson Financial Group Inc. bought a new position in Revolution Medicines in the second quarter worth approximately $37,000. Silvant Capital Management LLC bought a new position in Revolution Medicines in the second quarter worth approximately $41,000. Northwestern Mutual Wealth Management Co. bought a new position in Revolution Medicines in the second quarter worth approximately $41,000. Finally, Allworth Financial LP grew its stake in Revolution Medicines by 57.2% in the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after acquiring an additional 210 shares during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RVMD shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research report on Friday, July 17th. Mizuho upped their target price on Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. Royal Bank Of Canada raised their target price on Revolution Medicines from $203.00 to $251.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Needham & Company LLC lifted their target price on Revolution Medicines from $240.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, August 31st. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $248.00 price target on shares of Revolution Medicines in a research note on Thursday, August 27th. Two 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 company. According to data from MarketBeat, Revolution Medicines has an average rating of “Moderate Buy” and a consensus target price of $226.17.

Revolution Medicines Company Profile

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.