Key Points
- Director Elizabeth Anderson sold 10,143 Revolution Medicines shares at an average price of $193.04, generating approximately $1.96 million. The transaction reduced her direct ownership by 70.07% to 4,333 shares.
- Revolution Medicines reported quarterly EPS of negative $3.06, missing the analyst consensus of negative $2.04. Analysts expect a full-year EPS loss of approximately $8.87.
- Despite the loss and insider sale, institutional investors own 94.34% of the company, while analysts maintain a “Moderate Buy” consensus with an average price target of $230.15.
Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) Director Elizabeth Anderson sold 10,143 shares of the stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $193.04, for a total transaction of $1,958,004.72. Following the completion of the transaction, the director directly owned 4,333 shares in the company, valued at $836,442.32. The trade was a 70.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Revolution Medicines Stock Performance
NASDAQ RVMD opened at $199.86 on Friday. The stock has a market cap of $42.84 billion, a PE ratio of -22.66 and a beta of 1.40. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38. The firm has a 50-day moving average of $200.44 and a 200-day moving average of $162.63. Revolution Medicines, Inc. has a 52-week low of $42.18 and a 52-week high of $224.31.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing analysts' consensus estimates of ($2.04) by ($1.02). During the same quarter last year, the business posted ($1.31) EPS. On average, sell-side analysts anticipate that Revolution Medicines, Inc. will post -8.87 EPS for the current year.
Hedge Funds Weigh In On Revolution Medicines
A number of hedge funds have recently added to or reduced their stakes in RVMD. Contravisory Investment Management Inc. bought a new stake in shares of Revolution Medicines during the 2nd quarter valued at $32,000. Johnson Financial Group Inc. acquired a new position in Revolution Medicines in the second quarter valued at about $37,000. Silvant Capital Management LLC acquired a new position in Revolution Medicines in the second quarter valued at about $41,000. Northwestern Mutual Wealth Management Co. bought a new stake in Revolution Medicines during the second quarter worth about $41,000. Finally, Allworth Financial LP grew its stake in Revolution Medicines by 57.2% during the fourth quarter. Allworth Financial LP now owns 577 shares of the company's stock worth $46,000 after buying an additional 210 shares in the last quarter. Institutional investors own 94.34% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the company. Truist Financial upped their target price on Revolution Medicines from $231.00 to $239.00 and gave the company a "buy" rating in a research report on Thursday, August 27th. Weiss Ratings restated a "sell (d-)" rating on shares of Revolution Medicines in a research note on Friday, July 17th. Wolfe Research reaffirmed an "outperform" rating and issued a $220.00 price objective on shares of Revolution Medicines in a report on Monday, August 10th. Evercore reiterated an "outperform" rating and set a $320.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 27th. Finally, UBS Group lifted their target price on Revolution Medicines from $220.00 to $265.00 and gave the stock a "buy" rating in a report on Friday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $230.15.
Check Out Our Latest Stock Analysis on Revolution Medicines
Revolution Medicines Company Profile
(
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.
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