Alan Sandler Sells 341 Shares of Revolution Medicines (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Alan Sandler sold 341 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total transaction of $67,940.84. Following the completion of the transaction, the insider directly owned 52,868 shares of the company’s stock, valued at approximately $10,533,420.32. This represents a 0.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD traded down $5.99 during mid-day trading on Friday, hitting $190.95. The stock had a trading volume of 5,937,950 shares, compared to its average volume of 2,930,039. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38. The company has a 50 day moving average of $199.49 and a two-hundred day moving average of $159.35. Revolution Medicines, Inc. has a twelve month low of $42.18 and a twelve month high of $224.31. The firm has a market cap of $40.93 billion, a PE ratio of -21.65 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) EPS for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same period in the prior year, the business earned ($1.31) earnings per share. Research analysts predict that Revolution Medicines, Inc. will post -8.87 EPS for the current fiscal year.

Institutional Trading of Revolution Medicines

A number of hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC acquired a new stake in Revolution Medicines during the second quarter worth about $626,000. MCF Advisors LLC acquired a new position in Revolution Medicines in the second quarter valued at approximately $78,000. National Pension Service acquired a new position in Revolution Medicines in the second quarter valued at approximately $51,241,000. Engineers Gate Manager LP lifted its holdings in Revolution Medicines by 144.0% in the second quarter. Engineers Gate Manager LP now owns 7,380 shares of the company’s stock valued at $1,382,000 after acquiring an additional 4,356 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new stake in Revolution Medicines in the 2nd quarter worth approximately $278,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Stifel Nicolaus lifted their target price on Revolution Medicines from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th. Wedbush raised their price target on shares of Revolution Medicines from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Raymond James Financial restated a “strong-buy” rating and set a $248.00 price objective on shares of Revolution Medicines in a research note on Thursday, August 27th. HC Wainwright upped their price objective on shares of Revolution Medicines from $195.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Revolution Medicines currently has a consensus rating of “Moderate Buy” and an average 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.