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 Revolution Medicines stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $187.99, for a total value of $1,048,984.20. Following the completion of the sale, the director directly owned 21,656 shares in the company, valued at $4,071,111.44. This represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Revolution Medicines Price Performance

NASDAQ RVMD opened at $189.24 on Friday. The business has a fifty day moving average price of $156.00 and a 200 day moving average price of $120.55. Revolution Medicines, Inc. has a one year low of $34.00 and a one year high of $193.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The company has a market cap of $40.23 billion, a P/E ratio of -26.77 and a beta of 1.37.

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 the consensus estimate of ($1.83) by ($0.46). During the same period in the prior year, the business earned ($1.13) EPS. Research analysts anticipate that Revolution Medicines, Inc. will post -7.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Revolution Medicines

A number of hedge funds have recently modified their holdings of RVMD. Vanguard Group Inc. lifted its holdings in shares of Revolution Medicines by 6.7% in the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after acquiring an additional 1,056,792 shares during the last quarter. Farallon Capital Management LLC increased its holdings in Revolution Medicines by 2.1% in the 3rd quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company’s stock valued at $683,020,000 after purchasing an additional 300,000 shares during the last quarter. Janus Henderson Group PLC raised its position in Revolution Medicines by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock valued at $980,036,000 after purchasing an additional 947,448 shares during the period. Baker BROS. Advisors LP raised its position in Revolution Medicines by 1.0% in the third quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock valued at $441,565,000 after purchasing an additional 90,385 shares during the period. Finally, Nextech Invest Ltd. lifted its stake in Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RVMD. Sanford C. Bernstein started coverage on shares of Revolution Medicines in a research note on Thursday, May 21st. They set a “market perform” rating and a $151.00 price objective for the company. HC Wainwright raised their target price on shares of Revolution Medicines from $169.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Oppenheimer boosted their target price on Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Wedbush upped their price target on Revolution Medicines from $165.00 to $181.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a report on Tuesday, April 21st. Three investment 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 company. Based on data from MarketBeat, Revolution Medicines has an average rating of “Buy” and an average price target of $135.39.

Revolution Medicines Company Profile

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.