Revolution Medicines (NASDAQ:RVMD) CFO Sells $424,958.64 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) CFO Jack Anders sold 2,722 shares of Revolution Medicines stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $424,958.64. Following the transaction, the chief financial officer directly owned 123,269 shares of the company’s stock, valued at approximately $19,244,756.28. The trade was a 2.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Price Performance

Shares of RVMD traded up $5.22 during trading hours on Thursday, hitting $162.99. The stock had a trading volume of 4,701,208 shares, compared to its average volume of 3,310,265. The company’s fifty day moving average is $144.38 and its two-hundred day moving average is $112.39. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $166.50. The stock has a market capitalization of $34.65 billion, a price-to-earnings ratio of -23.05 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period last year, the business posted ($1.13) EPS. On average, analysts anticipate that Revolution Medicines, Inc. will post -7.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RVMD. Sanford C. Bernstein began coverage on shares of Revolution Medicines in a research note on Thursday, May 21st. They issued a “market perform” rating and a $151.00 target price for the company. Guggenheim increased their price target on Revolution Medicines to $205.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Royal Bank Of Canada raised their price target on Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Finally, UBS Group began coverage on Revolution Medicines in a research note on Friday, February 27th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $123.72.

Institutional Trading of Revolution Medicines

A number of hedge funds and other institutional investors have recently modified their holdings of RVMD. Meeder Advisory Services Inc. raised its position in Revolution Medicines by 3.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock worth $401,000 after purchasing an additional 120 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Revolution Medicines by 1.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock valued at $802,000 after buying an additional 125 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Revolution Medicines by 0.4% in the 4th quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock valued at $2,566,000 after buying an additional 130 shares during the period. Signaturefd LLC increased its stake in shares of Revolution Medicines by 33.1% in the 4th quarter. Signaturefd LLC now owns 656 shares of the company’s stock valued at $52,000 after buying an additional 163 shares during the period. Finally, Allworth Financial LP raised its position in shares of Revolution Medicines by 57.2% during the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock worth $46,000 after acquiring an additional 210 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

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.