Revolution Medicines (NASDAQ:RVMD) Director Sells $11,381,440.00 in Stock

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

Revolution Medicines Stock Performance

NASDAQ:RVMD traded down $0.64 during mid-day trading on Wednesday, hitting $209.23. 1,314,331 shares of the company traded hands, compared to its average volume of 2,995,896. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40. The stock’s fifty day moving average price is $194.93 and its 200-day moving average price is $150.51. The firm has a market cap of $44.85 billion, a price-to-earnings ratio of -23.72 and a beta of 1.40. Revolution Medicines, Inc. has a one year low of $38.49 and a one year high of $224.31.

Revolution Medicines (NASDAQ:RVMD) last announced 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 quarter in the prior year, the company posted ($1.31) earnings per share. Research analysts anticipate that Revolution Medicines, Inc. will post -8.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Revolution Medicines

Several hedge funds have recently made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new stake in Revolution Medicines in the second quarter worth about $32,000. Global Retirement Partners LLC increased its position in Revolution Medicines by 1,002.8% during the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after purchasing an additional 361 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of Revolution Medicines in the 2nd quarter valued at about $37,000. Arax Advisory Partners bought a new stake in shares of Revolution Medicines in the 4th quarter valued at about $38,000. Finally, Silvant Capital Management LLC purchased a new stake in shares of Revolution Medicines in the 2nd quarter worth approximately $41,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RVMD shares. Truist Financial increased their price objective on shares of Revolution Medicines from $231.00 to $239.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Piper Sandler lifted their target price on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Guggenheim raised their price target on Revolution Medicines from $240.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 28th. Royal Bank Of Canada boosted their price objective on Revolution Medicines from $203.00 to $251.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Finally, TD Cowen raised Revolution Medicines to a “strong-buy” rating in a research note on Monday, August 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.