Key Points
- Revolution Medicines director Sushil Patel sold 5,580 shares on June 29 at an average price of $187.99, for proceeds of about $1.05 million. After the sale, he still held 21,656 shares worth roughly $4.07 million.
- RVMD shares have climbed near their 52-week high, recently opening at $187.51 versus a 12-month high of $193.10. The company now has a market cap of about $39.86 billion.
- Analysts remain broadly positive on Revolution Medicines, with an average rating of “Buy” and a consensus price target of $134.50. Several firms recently reiterated or raised bullish targets, even though the company reported a wider-than-expected quarterly loss.
Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) Director Sushil Patel sold 5,580 shares of the firm's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the completion of the sale, the director owned 21,656 shares of the company's stock, valued at $4,071,111.44. This trade represents a 20.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Revolution Medicines Price Performance
RVMD stock opened at $187.51 on Thursday. The stock has a market cap of $39.86 billion, a PE ratio of -26.52 and a beta of 1.37. Revolution Medicines, Inc. has a 12 month low of $34.00 and a 12 month high of $193.10. The company has a 50-day moving average price of $154.24 and a 200 day moving average price of $119.29. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts' consensus estimates of ($1.83) by ($0.46). During the same period in the prior year, the firm earned ($1.13) EPS. Equities research analysts anticipate that Revolution Medicines, Inc. will post -7.94 earnings per share for the current year.
Institutional Investors Weigh In On Revolution Medicines
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Indiana Trust & Investment Management Co purchased a new position in Revolution Medicines in the fourth quarter worth $32,000. Global Retirement Partners LLC boosted its position in shares of Revolution Medicines by 1,002.8% in the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company's stock worth $32,000 after purchasing an additional 361 shares in the last quarter. Torren Management LLC purchased a new position in Revolution Medicines during the 4th quarter worth $33,000. Arax Advisory Partners purchased a new position in Revolution Medicines during the 4th quarter worth $38,000. Finally, Darwin Wealth Management LLC acquired a new position in Revolution Medicines during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 94.34% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently issued reports on RVMD. Truist Financial raised their price target on Revolution Medicines from $179.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday. Jefferies Financial Group initiated coverage on Revolution Medicines in a research report on Monday, March 16th. They issued a "buy" rating on the stock. HC Wainwright increased their target price on Revolution Medicines from $169.00 to $195.00 and gave the stock a "buy" rating in a research note on Monday, June 1st. Stifel Nicolaus reaffirmed a "buy" rating on shares of Revolution Medicines in a research note on Monday, April 20th. Finally, Wedbush restated an "outperform" rating on shares of Revolution Medicines in a report on Monday, June 1st. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $134.50.
Get Our Latest Analysis on RVMD
Revolution Medicines Company Profile
(
Get Free Report)
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.
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