Alan Sandler Sells 341 Shares of Revolution Medicines (NASDAQ:RVMD) Stock

Key Points

• Insider sale: Alan Sandler sold 341 Revolution Medicines shares for approximately $67,941 to cover tax-withholding obligations tied to vested equity awards. His remaining stake totaled 52,868 shares, worth about $10.5 million.
• Stock and earnings: RVMD shares fell 3.0% to $190.95, while the company reported quarterly EPS of negative $3.06, missing analysts’ estimate of negative $2.04.
• Analyst outlook: Wall Street’s consensus rating is “Moderate Buy,” with an average price target of $226.17; recent targets range from $215 to $320. Institutional investors own 94.34% of the stock.

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) insider Alan Sandler sold 341 shares of the company's stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total value of $67,940.84. Following the sale, the insider owned 52,868 shares of the company's stock, valued at approximately $10,533,420.32. This represents a 0.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Stock Down 3.0%

Shares of NASDAQ:RVMD traded down $5.99 on Friday, reaching $190.95. The company had a trading volume of 5,937,950 shares, compared to its average volume of 2,930,039. Revolution Medicines, Inc. has a 52-week low of $42.18 and a 52-week high of $224.31. The firm's 50 day simple moving average is $199.49 and its 200-day simple moving average is $159.35. The firm has a market capitalization of $40.93 billion, a PE ratio of -21.65 and a beta of 1.40. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period in the previous year, the company earned ($1.31) earnings per share. As a group, analysts expect that Revolution Medicines, Inc. will post -8.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RVMD shares. 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. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Revolution Medicines in a research report on Friday, July 17th. HC Wainwright boosted their price objective on shares of Revolution Medicines from $195.00 to $280.00 and gave the stock a "buy" rating in a research note on Thursday, August 27th. Mizuho increased their target price on shares of Revolution Medicines from $185.00 to $215.00 and gave the company an "outperform" rating in a research report on Monday, July 6th. Finally, Evercore restated an "outperform" rating and issued a $320.00 target price on shares of Revolution Medicines in a research note on Thursday, August 27th. Two 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 assigned a Sell rating to the company's stock. According to MarketBeat, Revolution Medicines currently has an average rating of "Moderate Buy" and an average target price of $226.17.

Institutional Investors Weigh In On Revolution Medicines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RVMD. Sequoia Financial Advisors LLC acquired a new stake in Revolution Medicines in the second quarter worth about $626,000. MCF Advisors LLC acquired a new position in shares of Revolution Medicines during the second quarter valued at about $78,000. National Pension Service purchased a new position in shares of Revolution Medicines in the 2nd quarter valued at approximately $51,241,000. Engineers Gate Manager LP raised its position in shares of Revolution Medicines by 144.0% in the 2nd quarter. Engineers Gate Manager LP now owns 7,380 shares of the company's stock valued at $1,382,000 after purchasing an additional 4,356 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Revolution Medicines in the 2nd quarter valued at approximately $278,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Company Profile

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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