Revolution Medicines (NASDAQ:RVMD) Director Sushil Patel Sells 5,580 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) Director Sushil Patel sold 5,580 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $187.99, for a total value of $1,048,984.20. Following the transaction, the director directly owned 21,656 shares in the company, valued at approximately $4,071,111.44. The trade was a 20.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Revolution Medicines Price Performance

NASDAQ RVMD opened at $187.51 on Thursday. Revolution Medicines, Inc. has a one year low of $34.00 and a one year high of $193.10. The stock has a 50-day moving average of $154.24 and a 200 day moving average of $119.29. The company has a market capitalization of $39.86 billion, a price-to-earnings ratio of -26.52 and a beta of 1.37. 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 (NASDAQ:RVMD) last posted 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 last year, the company posted ($1.13) EPS. On average, sell-side analysts forecast that Revolution Medicines, Inc. will post -7.94 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RVMD. Jefferies Financial Group initiated coverage on Revolution Medicines in a report on Monday, March 16th. They issued a “buy” rating for the company. Evercore reiterated an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Oppenheimer boosted their target price on shares of Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Tuesday, April 21st. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Three investment 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 issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $134.50.

Institutional Investors Weigh In On Revolution Medicines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Seven Fleet Capital Management LP boosted its holdings in shares of Revolution Medicines by 22.8% in the 1st quarter. Seven Fleet Capital Management LP now owns 80,792 shares of the company’s stock worth $7,857,000 after purchasing an additional 14,992 shares during the period. Parallel Advisors LLC increased its position in shares of Revolution Medicines by 181.0% during the 1st quarter. Parallel Advisors LLC now owns 562 shares of the company’s stock valued at $55,000 after purchasing an additional 362 shares during the last quarter. Perceptive Advisors LLC purchased a new stake in Revolution Medicines during the 1st quarter valued at $25,149,000. Avidity Partners Management LP purchased a new stake in Revolution Medicines during the 1st quarter valued at $1,459,000. Finally, Edgestream Partners L.P. bought a new stake in Revolution Medicines in the first quarter worth $6,736,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Company Profile

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.