Insider Selling: Revolution Medicines (NASDAQ:RVMD) CFO Sells $3,366,600.00 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) CFO Jack Anders sold 20,000 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total value of $3,366,600.00. Following the completion of the transaction, the chief financial officer directly owned 123,269 shares in the company, valued at $20,749,870.77. This trade represents a 13.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, June 16th, Jack Anders sold 2,722 shares of Revolution Medicines stock. The stock was sold at an average price of $156.12, for a total value of $424,958.64.

Revolution Medicines Stock Performance

NASDAQ:RVMD opened at $182.08 on Monday. The stock has a 50-day simple moving average of $151.78 and a 200-day simple moving average of $116.94. The stock has a market cap of $38.71 billion, a P/E ratio of -25.75 and a beta of 1.40. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $184.39. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter last year, the firm posted ($1.13) earnings per share. As a group, analysts anticipate that Revolution Medicines, Inc. will post -7.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RVMD. General Atlantic L.P. purchased a new position in shares of Revolution Medicines during the third quarter worth approximately $115,556,000. Norges Bank purchased a new stake in Revolution Medicines in the 4th quarter valued at $195,568,000. Avoro Capital Advisors LLC purchased a new stake in Revolution Medicines in the 4th quarter valued at $172,840,000. UBS Group AG boosted its stake in Revolution Medicines by 183.6% during the 4th quarter. UBS Group AG now owns 3,087,937 shares of the company’s stock worth $245,954,000 after purchasing an additional 1,998,972 shares during the period. Finally, Polar Capital Holdings Plc boosted its stake in Revolution Medicines by 321.2% during the 4th quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company’s stock worth $160,398,000 after purchasing an additional 1,535,686 shares during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RVMD. Truist Financial began coverage on shares of Revolution Medicines in a report on Monday, May 18th. They set a “buy” rating and a $179.00 price objective on the stock. Guggenheim upped their target price on shares of Revolution Medicines to $205.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Finally, Sanford C. Bernstein assumed 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 target on the stock. Three investment 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 stock. According to MarketBeat, Revolution Medicines presently has an average rating of “Buy” and a consensus target price of $123.72.

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.