Insider Selling: Revolution Medicines (NASDAQ:RVMD) CFO Sells 4,053 Shares

Revolution Medicines, Inc. (NASDAQ:RVMD) CFO Jack Anders sold 4,053 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total value of $807,519.72. Following the transaction, the chief financial officer directly owned 119,216 shares of the company’s stock, valued at $23,752,595.84. This trade represents a 3.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, June 24th, Jack Anders sold 20,000 shares of Revolution Medicines stock. The shares were sold at an average price of $168.33, for a total value of $3,366,600.00.

Revolution Medicines Price Performance

NASDAQ RVMD traded down $5.99 during trading on Friday, hitting $190.95. 5,937,950 shares of the company’s stock were exchanged, compared to its average volume of 2,930,039. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40. The company has a market cap of $40.93 billion, a PE ratio of -21.65 and a beta of 1.40. Revolution Medicines, Inc. has a fifty-two week low of $42.18 and a fifty-two week high of $224.31. The stock’s 50 day moving average price is $199.49 and its two-hundred day moving average price is $159.35.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results 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 quarter in the prior year, the business posted ($1.31) EPS. Research analysts expect that Revolution Medicines, Inc. will post -8.87 EPS for the current year.

Hedge Funds Weigh In On Revolution Medicines

Hedge funds have recently modified their holdings of the business. Equitable Holdings Inc. acquired a new stake in Revolution Medicines in the second quarter valued at $963,000. State of Wyoming acquired a new position in Revolution Medicines during the 2nd quarter worth about $1,769,000. Handelsbanken Fonder AB lifted its holdings in Revolution Medicines by 243.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 212,275 shares of the company’s stock worth $39,755,000 after buying an additional 150,500 shares during the period. Eagle Health Investments LP bought a new stake in shares of Revolution Medicines in the 4th quarter valued at about $9,231,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Revolution Medicines in the 2nd quarter valued at about $112,566,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Analysts Set New Price Targets

RVMD has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research note on Friday, July 17th. UBS Group increased their price target on Revolution Medicines from $220.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Oppenheimer raised their price objective on Revolution Medicines from $230.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Raymond James Financial restated a “strong-buy” rating and set a $248.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 27th. Finally, Sanford C. Bernstein upped their target price on Revolution Medicines from $151.00 to $179.00 and gave the stock a “market perform” rating in a report on Friday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $226.17.

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.