Revolution Medicines (NASDAQ:RVMD) Insider Stephen Michael Kelsey Sells 5,569 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Stephen Kelsey sold 5,569 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total transaction of $1,109,567.56. Following the sale, the insider directly owned 286,307 shares of the company’s stock, valued at approximately $57,043,806.68. This trade represents a 1.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Stephen Michael Kelsey also recently made the following trade(s):

• On Friday, September 11th, Stephen Kelsey sold 92,531 shares of Revolution Medicines stock. The stock was sold at an average price of $202.36, for a total transaction of $18,724,573.16.

Revolution Medicines Price Performance

NASDAQ:RVMD traded down $5.99 during mid-day trading on Friday, reaching $190.95. The stock had a trading volume of 5,937,950 shares, compared to its average volume of 2,930,039. Revolution Medicines, Inc. has a 12 month low of $42.18 and a 12 month high of $224.31. The stock has a market capitalization of $40.93 billion, a PE ratio of -21.65 and a beta of 1.40. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. The stock has a 50-day simple moving average of $199.49 and a two-hundred day simple moving average of $159.35.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period in the previous year, the company posted ($1.31) earnings per share. On average, equities analysts anticipate that Revolution Medicines, Inc. will post -8.87 earnings per share for the current year.

Institutional Investors Weigh In On Revolution Medicines

Large investors have recently modified their holdings of the company. Contravisory Investment Management Inc. bought a new position in Revolution Medicines during the second quarter worth $32,000. ABS Investment Management LLC bought a new stake in Revolution Medicines during the second quarter valued at $337,104,000. Johnson Financial Group Inc. bought a new stake in Revolution Medicines during the second quarter valued at $37,000. Northwestern Mutual Wealth Management Co. bought a new stake in Revolution Medicines during the second quarter valued at $41,000. Finally, Silvant Capital Management LLC acquired a new stake in Revolution Medicines during the 2nd quarter worth about $41,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on RVMD. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Friday, July 17th. Raymond James Financial reiterated a “strong-buy” rating and set a $248.00 price target on shares of Revolution Medicines in a report on Thursday, August 27th. HC Wainwright boosted their price objective on shares of Revolution Medicines from $195.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Wolfe Research reaffirmed an “outperform” rating and set a $220.00 target price on shares of Revolution Medicines in a report on Monday, August 10th. Finally, Sanford C. Bernstein upped their price target on Revolution Medicines from $151.00 to $179.00 and gave the company a “market perform” rating in a research report on Friday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.