Stephen Michael Kelsey Sells 4,175 Shares of Revolution Medicines (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Stephen Michael Kelsey sold 4,175 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 $651,801.00. Following the sale, the insider owned 291,876 shares in the company, valued at $45,567,681.12. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $162.99 on Friday. The stock has a market cap of $34.65 billion, a PE ratio of -23.05 and a beta of 1.40. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $166.50. The business has a 50-day moving average price of $147.04 and a 200 day moving average price of $113.34.

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

Institutional Trading of Revolution Medicines

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

Wall Street Analyst Weigh In

RVMD has been the topic of a number of recent research reports. Jefferies Financial Group began coverage on shares of Revolution Medicines in a research note on Monday, March 16th. They issued a “buy” rating on the stock. Piper Sandler raised their price target on Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Royal Bank Of Canada boosted their price target on Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Sanford C. Bernstein assumed coverage on Revolution Medicines in a research note on Thursday, May 21st. They set a “market perform” rating and a $151.00 price objective for the company. Finally, Wedbush reaffirmed an “outperform” rating on shares of Revolution Medicines in a research report on Monday, June 1st. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Revolution Medicines currently has a consensus rating of “Buy” and an average price target 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.