Revolution Medicines (NASDAQ:RVMD) CFO Jack Anders Sells 2,722 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) CFO Jack Anders sold 2,722 shares of Revolution Medicines stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $424,958.64. Following the completion of the sale, the chief financial officer owned 123,269 shares of the company’s stock, valued at approximately $19,244,756.28. The trade was a 2.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Trading Up 3.3%

NASDAQ:RVMD traded up $5.22 on Thursday, hitting $162.99. 4,701,208 shares of the stock were exchanged, compared to its average volume of 3,310,265. 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, Inc. has a 52 week low of $34.00 and a 52 week high of $166.50. The stock has a market capitalization of $34.65 billion, a price-to-earnings ratio of -23.05 and a beta of 1.40. The company’s 50-day moving average price is $144.38 and its 200 day moving average price is $112.39.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter in the prior year, the company earned ($1.13) EPS. On average, equities research analysts forecast that Revolution Medicines, Inc. will post -7.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Jefferies Financial Group initiated coverage on shares of Revolution Medicines in a report on Monday, March 16th. They set a “buy” rating for the company. Guggenheim increased their price target on Revolution Medicines to $205.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Truist Financial began coverage on Revolution Medicines in a research report on Monday, May 18th. They issued a “buy” rating and a $179.00 price target on the stock. Stifel Nicolaus reaffirmed a “buy” rating on shares of Revolution Medicines in a research note on Monday, April 20th. Finally, Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a report on Monday, June 1st. Three 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 given a Sell rating to the company’s stock. According to MarketBeat, Revolution Medicines has a consensus rating of “Buy” and an average price target of $123.72.

Hedge Funds Weigh In On Revolution Medicines

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Revolution Medicines by 6.7% during the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after buying an additional 1,056,792 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Revolution Medicines by 194.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock valued at $1,696,000 after acquiring an additional 14,062 shares during the period. Raiffeisen Bank International AG bought a new stake in shares of Revolution Medicines in the third quarter worth about $921,000. Mass General Brigham Inc bought a new stake in shares of Revolution Medicines in the fourth quarter worth about $27,407,000. Finally, M&T Bank Corp acquired a new stake in shares of Revolution Medicines during the fourth quarter worth about $52,723,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

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.