Revolution Medicines (NASDAQ:RVMD) CFO Jack Anders Sells 35,750 Shares of Company Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) CFO Jack Anders sold 35,750 shares of the firm’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $188.10, for a total value of $6,724,575.00. Following the completion of the sale, the chief financial officer directly owned 119,216 shares of the company’s stock, valued at $22,424,529.60. The trade was a 23.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Jack Anders also recently made the following trade(s):

• On Wednesday, September 16th, Jack Anders sold 4,053 shares of Revolution Medicines stock. The stock was sold at an average price of $199.24, for a total value of $807,519.72.

Revolution Medicines Trading Down 2.3%

Shares of NASDAQ RVMD traded down $4.06 during trading hours on Friday, hitting $172.29. 2,654,066 shares of the company traded hands, compared to its average volume of 2,814,289. The stock has a market capitalization of $37.26 billion, a price-to-earnings ratio of -18.91 and a beta of 1.44. The company has a current ratio of 8.36, a quick ratio of 8.34 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average price is $195.24 and its 200 day moving average price is $159.06. Revolution Medicines, Inc. has a 12 month low of $63.50 and a 12 month high of $224.31.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($1.90) earnings per share for the quarter, beating the consensus estimate of ($2.35) by $0.45. The company had revenue of $197.56 million for the quarter, compared to analysts’ expectations of $25.58 million. During the same quarter in the previous year, the company posted ($1.61) EPS. On average, equities research analysts anticipate that Revolution Medicines, Inc. will post -7.41 earnings per share for the current fiscal year.

Institutional Trading of Revolution Medicines

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Alphabet Inc. bought a new position in shares of Revolution Medicines during the 2nd quarter worth approximately $551,843,000. Assenagon Asset Management S.A. lifted its position in Revolution Medicines by 987.9% during the third quarter. Assenagon Asset Management S.A. now owns 2,181,185 shares of the company’s stock valued at $447,710,000 after acquiring an additional 1,980,699 shares during the last quarter. ABS Investment Management LLC acquired a new stake in Revolution Medicines in the second quarter valued at approximately $337,104,000. Winslow Capital Management LLC acquired a new stake in Revolution Medicines in the third quarter valued at approximately $260,191,000. Finally, Bank of America Corp DE acquired a new stake in Revolution Medicines in the second quarter valued at approximately $184,267,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RVMD shares. TD Cowen increased their target price on shares of Revolution Medicines from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. Oppenheimer lifted their price target on shares of Revolution Medicines from $230.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Brookline Capital Markets began coverage on shares of Revolution Medicines in a report on Monday, September 28th. They set a “buy” rating and a $318.00 price target on the stock. Evercore reiterated an “outperform” rating and set a $320.00 price target on shares of Revolution Medicines in a report on Thursday, August 27th. Finally, UBS Group increased their price objective on shares of Revolution Medicines from $220.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Revolution Medicines has an average rating of “Moderate Buy” and a consensus target price of $262.75.

Revolution Medicines Company Profile

Revolution Medicines, Inc. is a biotechnology company focused on developing targeted therapies for patients with RAS-driven cancers. Founded in 2014 and headquartered in Redwood City, California, the company’s research centers on RAS proteins, which can contribute to the growth of many cancers. The company’s pipeline includes drug candidates designed to inhibit mutant RAS proteins, including daraxonrasib (RMC-6236), which targets multiple RAS variants, and candidates directed at specific KRAS mutations.