Revolution Medicines (NASDAQ:RVMD) Director Elizabeth Anderson Sells 10,143 Shares of Company Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) Director Elizabeth Anderson sold 10,143 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $193.04, for a total transaction of $1,958,004.72. Following the sale, the director directly owned 4,333 shares in the company, valued at $836,442.32. This trade represents a 70.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Revolution Medicines Stock Up 4.8%

Shares of NASDAQ RVMD traded up $9.12 during mid-day trading on Thursday, hitting $199.86. The company had a trading volume of 4,061,818 shares, compared to its average volume of 2,920,436. The company has a market capitalization of $42.84 billion, a PE ratio of -22.66 and a beta of 1.40. The firm has a 50-day simple moving average of $200.03 and a two-hundred day simple moving average of $161.91. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40. Revolution Medicines, Inc. has a one year low of $42.18 and a one year high of $224.31.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period last year, the company posted ($1.31) earnings per share. On average, equities analysts expect that Revolution Medicines, Inc. will post -8.87 EPS for the current year.

Institutional Trading of Revolution Medicines

Several institutional investors and hedge funds have recently bought and sold shares of RVMD. Meeder Advisory Services Inc. raised its stake in Revolution Medicines by 3.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock valued at $401,000 after acquiring an additional 120 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Revolution Medicines by 1.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock valued at $802,000 after purchasing an additional 125 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Revolution Medicines by 147.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 218 shares of the company’s stock worth $41,000 after purchasing an additional 130 shares during the period. Contravisory Investment Management Inc. bought a new position in Revolution Medicines during the second quarter worth $32,000. Finally, ABS Investment Management LLC acquired a new position in shares of Revolution Medicines in the second quarter valued at $337,104,000. Institutional investors own 94.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on RVMD shares. Wedbush upped their price objective on Revolution Medicines from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. HC Wainwright raised their target price on shares of Revolution Medicines from $195.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. TD Cowen upgraded shares of Revolution Medicines to a “strong-buy” rating in a report on Monday, August 24th. Needham & Company LLC boosted their target price on shares of Revolution Medicines from $240.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, August 31st. Finally, Evercore reiterated an “outperform” rating and issued a $320.00 price target on shares of Revolution Medicines in a research note on Thursday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $230.15.

About Revolution Medicines

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.