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 transaction of $1,048,984.20. Following the sale, the director owned 21,656 shares of the company’s stock, valued at $4,071,111.44. This represents a 20.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Revolution Medicines Stock Up 0.1%

Shares of NASDAQ RVMD traded up $0.23 during mid-day trading on Wednesday, reaching $187.51. The company had a trading volume of 2,078,623 shares, compared to its average volume of 3,389,673. The firm has a 50 day simple moving average of $153.42 and a two-hundred day simple moving average of $118.52. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $193.10. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19. The stock has a market cap of $39.86 billion, a P/E ratio of -26.52 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the previous year, the firm earned ($1.13) EPS. Sell-side analysts predict that Revolution Medicines, Inc. will post -7.94 earnings per share for the current year.

Institutional Trading of Revolution Medicines

Several hedge funds have recently made changes to their positions in RVMD. Seven Fleet Capital Management LP increased its stake in shares of Revolution Medicines by 22.8% during the first quarter. Seven Fleet Capital Management LP now owns 80,792 shares of the company’s stock worth $7,857,000 after acquiring an additional 14,992 shares during the period. Parallel Advisors LLC raised its holdings in Revolution Medicines by 181.0% during the first quarter. Parallel Advisors LLC now owns 562 shares of the company’s stock worth $55,000 after purchasing an additional 362 shares in the last quarter. Perceptive Advisors LLC acquired a new stake in Revolution Medicines in the first quarter valued at about $25,149,000. Avidity Partners Management LP purchased a new stake in Revolution Medicines in the 1st quarter valued at approximately $1,459,000. Finally, Edgestream Partners L.P. purchased a new stake in Revolution Medicines in the 1st quarter valued at approximately $6,736,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RVMD. HC Wainwright lifted their target price on shares of Revolution Medicines from $169.00 to $195.00 and gave the company a “buy” rating in a report on Monday, June 1st. Truist Financial raised their price objective on shares of Revolution Medicines from $179.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Tuesday, April 21st. Sanford C. Bernstein initiated coverage on shares of Revolution Medicines in a report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 target price for the company. Finally, Wedbush reissued an “outperform” rating on shares of Revolution Medicines in a report on Monday, June 1st. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $134.50.

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.