Insider Selling: Revolution Medicines (NASDAQ:RVMD) Director Sells $11,381,440.00 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) Director Lorence Kim sold 56,000 shares of Revolution Medicines stock in a transaction on Monday, August 31st. The stock was sold at an average price of $203.24, for a total value of $11,381,440.00. Following the completion of the sale, the director directly owned 17,090 shares of the company’s stock, valued at approximately $3,473,371.60. The trade was a 76.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Revolution Medicines Stock Down 0.4%

RVMD opened at $210.02 on Friday. The stock has a market capitalization of $45.02 billion, a price-to-earnings ratio of -23.81 and a beta of 1.40. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average price of $196.93 and a 200-day moving average price of $152.51. Revolution Medicines, Inc. has a twelve month low of $39.17 and a twelve month high of $224.31.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same period in the previous year, the company earned ($1.31) earnings per share. Equities research analysts forecast that Revolution Medicines, Inc. will post -8.83 earnings per share for the current year.

Institutional Trading of Revolution Medicines

Several institutional investors have recently modified their holdings of RVMD. Meeder Advisory Services Inc. increased its stake in Revolution Medicines by 3.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock worth $401,000 after buying an additional 120 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Revolution Medicines by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock valued at $802,000 after acquiring an additional 125 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Revolution Medicines by 147.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 218 shares of the company’s stock worth $41,000 after acquiring an additional 130 shares during the last quarter. Deutsche Bank AG increased its position in shares of Revolution Medicines by 0.4% during the fourth quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock worth $2,566,000 after purchasing an additional 130 shares in the last quarter. Finally, Contravisory Investment Management Inc. acquired a new position in Revolution Medicines in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Evercore reiterated an “outperform” rating and issued a $320.00 target price on shares of Revolution Medicines in a research note on Thursday, August 27th. Royal Bank Of Canada boosted their price objective on shares of Revolution Medicines from $203.00 to $251.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Needham & Company LLC raised their target price on Revolution Medicines from $240.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday, August 31st. Guggenheim boosted their price target on Revolution Medicines from $240.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Revolution Medicines presently has a consensus rating of “Moderate Buy” and an average target price of $200.74.

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.