Key Points
- Insider sale: Alan Sandler sold 6,309 Revolution Medicines shares at an average price of $202.14, generating approximately $1.28 million. He retained 52,559 shares after the transaction, a 10.72% reduction in his holdings.
- Analyst sentiment remains positive: Wall Street analysts give RVMD a consensus “Moderate Buy” rating and an average price target of $234.33, with several firms recently raising their targets to between $260 and $280.
- Business and financial backdrop: Revolution Medicines is developing targeted cancer therapies focused on the RAS signaling pathway. The company missed quarterly EPS estimates, reporting a loss of $3.06 per share versus the expected loss of $2.04, while institutional investors own 94.34% of the stock.
Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) insider Alan Sandler sold 6,309 shares of the firm's stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $202.14, for a total transaction of $1,275,301.26. Following the sale, the insider owned 52,559 shares in the company, valued at $10,624,276.26. The trade was a 10.72% 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 Up 0.3%
RVMD opened at $205.89 on Friday. The stock has a market cap of $44.13 billion, a price-to-earnings ratio of -23.34 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's fifty day moving average is $202.46 and its 200 day moving average is $166.39. Revolution Medicines, Inc. has a fifty-two week low of $45.60 and a fifty-two week high of $224.31.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings results 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 period last year, the firm posted ($1.31) earnings per share. On average, sell-side analysts forecast that Revolution Medicines, Inc. will post -8.87 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Revolution Medicines
A number of hedge funds have recently made changes to their positions in RVMD. Burkett Financial Services LLC purchased a new position in Revolution Medicines during the 3rd quarter valued at approximately $27,000. QRG Capital Management Inc. raised its holdings in shares of Revolution Medicines by 31.6% during the 2nd quarter. QRG Capital Management Inc. now owns 8,083 shares of the company's stock worth $1,514,000 after acquiring an additional 1,943 shares in the last quarter. Andra AP fonden boosted its position in shares of Revolution Medicines by 69.9% during the 2nd quarter. Andra AP fonden now owns 28,200 shares of the company's stock valued at $5,281,000 after acquiring an additional 11,600 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Revolution Medicines during the 2nd quarter valued at approximately $626,000. Finally, MCF Advisors LLC purchased a new position in shares of Revolution Medicines in the second quarter valued at $78,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
RVMD has been the subject of several research analyst reports. Bank of America increased their target price on Revolution Medicines from $225.00 to $265.00 and gave the stock a "buy" rating in a research report on Monday, September 21st. The Goldman Sachs Group assumed coverage on Revolution Medicines in a research note on Thursday, September 24th. They issued a "buy" rating and a $267.00 price target for the company. HC Wainwright increased their price objective on shares of Revolution Medicines from $195.00 to $280.00 and gave the company a "buy" rating in a report on Thursday, August 27th. Sanford C. Bernstein lifted their price objective on shares of Revolution Medicines from $151.00 to $179.00 and gave the company a "market perform" rating in a research report on Friday, August 21st. Finally, Oppenheimer boosted their target price on shares of Revolution Medicines from $230.00 to $260.00 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, twenty have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $234.33.
View Our Latest Analysis on RVMD
About Revolution Medicines
(
Get Free Report)
Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted therapies for patients with cancer. The company's research centers on the RAS signaling pathway, a key driver of tumor growth that is altered in many cancers, including those involving KRAS mutations.
Its pipeline includes RAS(ON) inhibitors designed to target active RAS proteins and address a range of RAS-driven tumors. Key development programs include daraxonrasib (RMC-6236), a broad-spectrum RAS inhibitor, and zoldonrasib (RMC-9805), an investigational inhibitor aimed at KRAS G12D-mutated cancers.
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