Key Points
- Insider Stephen Michael Kelsey sold 92,531 Revolution Medicines shares at an average price of $202.36, generating approximately $18.7 million. His remaining stake fell 24.07% to 291,876 shares.
- Revolution Medicines reported quarterly EPS of -$3.06, missing the consensus estimate of -$2.04. Analysts expect a full-year loss of approximately $8.87 per share.
- Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $226.17; institutional investors own 94.34% of the company’s shares.
Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) insider Stephen Kelsey sold 92,531 shares of the business's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $202.36, for a total transaction of $18,724,573.16. Following the sale, the insider owned 291,876 shares of the company's stock, valued at $59,064,027.36. This trade represents a 24.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.
Revolution Medicines Stock Performance
RVMD opened at $204.86 on Wednesday. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40. The company's fifty day moving average price is $199.25 and its two-hundred day moving average price is $158.02. Revolution Medicines, Inc. has a 1-year low of $42.18 and a 1-year high of $224.31. The company has a market cap of $43.91 billion, a price-to-earnings ratio of -23.23 and a beta of 1.40.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.04) by ($1.02). During the same quarter in the previous year, the business posted ($1.31) EPS. On average, analysts expect that Revolution Medicines, Inc. will post -8.87 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RVMD. Sequoia Financial Advisors LLC bought a new position in shares of Revolution Medicines in the second quarter worth $626,000. MCF Advisors LLC bought a new stake in shares of Revolution Medicines during the 2nd quarter valued at $78,000. National Pension Service purchased a new stake in Revolution Medicines during the 2nd quarter worth about $51,241,000. Engineers Gate Manager LP lifted its holdings in Revolution Medicines by 144.0% during the 2nd quarter. Engineers Gate Manager LP now owns 7,380 shares of the company's stock worth $1,382,000 after purchasing an additional 4,356 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Revolution Medicines in the 2nd quarter worth about $278,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
RVMD has been the subject of a number of analyst reports. TD Cowen upgraded Revolution Medicines to a "strong-buy" rating in a research note on Monday, August 24th. Stifel Nicolaus increased their price objective on Revolution Medicines from $215.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, September 9th. Raymond James Financial restated a "strong-buy" rating and issued a $248.00 target price on shares of Revolution Medicines in a report on Thursday, August 27th. Guggenheim lifted their target price on Revolution Medicines from $240.00 to $275.00 and gave the company a "buy" rating in a research report on Friday, August 28th. Finally, Wedbush upped their price target on Revolution Medicines from $201.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, August 27th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Revolution Medicines currently has an average rating of "Moderate Buy" and a consensus target price of $226.17.
Get Our Latest Analysis on RVMD
About Revolution Medicines
(
Get Free Report)
Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.
Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.
Further Reading
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