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 the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $651,801.00. Following the transaction, the insider owned 291,876 shares of the company’s stock, valued at $45,567,681.12. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Price Performance

Shares of Revolution Medicines stock traded up $5.22 during trading hours on Thursday, reaching $162.99. The company’s stock had a trading volume of 4,701,208 shares, compared to its average volume of 3,310,265. The firm has a 50 day moving average price of $144.38 and a 200-day moving average price of $112.39. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. The stock has a market cap of $34.65 billion, a P/E ratio of -23.05 and a beta of 1.40. Revolution Medicines, Inc. has a one year low of $34.00 and a one year high of $166.50.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the previous year, the company earned ($1.13) EPS. On average, analysts predict that Revolution Medicines, Inc. will post -7.94 EPS for the current year.

Analyst Ratings Changes

RVMD has been the subject of a number of recent research reports. Jefferies Financial Group began coverage on Revolution Medicines in a report on Monday, March 16th. They issued a “buy” rating for the company. UBS Group initiated coverage on Revolution Medicines in a research note on Friday, February 27th. They issued a “buy” rating on the stock. Oppenheimer lifted their price target on shares of Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Guggenheim boosted their price target on Revolution Medicines to $205.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Wedbush reissued an “outperform” rating on shares of Revolution Medicines in a research note on Monday, June 1st. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Revolution Medicines presently has an average rating of “Buy” and a consensus target price of $123.72.

Institutional Investors Weigh In On Revolution Medicines

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

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.