Insider Selling: Revolution Medicines (NASDAQ:RVMD) Director Sells $11,381,440.00 in Stock

Key Points

• Director Lorence Kim sold 56,000 Revolution Medicines shares for approximately $11.38 million at an average price of $203.24, reducing his direct ownership by 76.62% to 17,090 shares.
• RVMD shares were recently trading near $209, close to their 52-week high of $224.31, while the company reported a quarterly EPS loss of $3.06 that missed analyst expectations by $1.02.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and an average price target of $200.74; institutional investors own 94.34% of the company.

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) Director Lorence Kim sold 56,000 shares of Revolution Medicines stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $203.24, for a total transaction of $11,381,440.00. Following the transaction, the director directly owned 17,090 shares in the company, valued at $3,473,371.60. This trade represents a 76.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Revolution Medicines Trading Down 0.3%

Shares of Revolution Medicines stock traded down $0.64 on Wednesday, hitting $209.23. The stock had a trading volume of 1,314,331 shares, compared to its average volume of 2,995,896. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40. The stock's 50-day simple moving average is $194.93 and its two-hundred day simple moving average is $150.51. The stock has a market cap of $44.85 billion, a price-to-earnings ratio of -23.72 and a beta of 1.40. Revolution Medicines, Inc. has a one year low of $38.49 and a one year high of $224.31.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing analysts' consensus estimates of ($2.04) by ($1.02). During the same period last year, the firm earned ($1.31) earnings per share. As a group, sell-side analysts predict that Revolution Medicines, Inc. will post -8.84 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RVMD. Contravisory Investment Management Inc. purchased a new stake in Revolution Medicines in the 2nd quarter worth approximately $32,000. Global Retirement Partners LLC boosted its position in Revolution Medicines by 1,002.8% in the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company's stock worth $32,000 after purchasing an additional 361 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Revolution Medicines during the 2nd quarter valued at about $37,000. Arax Advisory Partners purchased a new stake in shares of Revolution Medicines during the 4th quarter valued at about $38,000. Finally, Silvant Capital Management LLC purchased a new stake in shares of Revolution Medicines during the 2nd quarter valued at about $41,000. Institutional investors own 94.34% of the company's stock.

Wall Street Analysts Forecast Growth

RVMD has been the topic of a number of analyst reports. Evercore reaffirmed an "outperform" rating and issued a $320.00 price objective on shares of Revolution Medicines in a report on Thursday, August 27th. Royal Bank Of Canada increased their price target on shares of Revolution Medicines from $203.00 to $251.00 and gave the company an "outperform" rating in a research report on Thursday, August 27th. Oppenheimer upped their target price on Revolution Medicines from $230.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, August 27th. Piper Sandler increased their target price on Revolution Medicines to $172.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Finally, Sanford C. Bernstein raised their price target on Revolution Medicines from $151.00 to $179.00 and gave the stock a "market perform" rating in a research report on Friday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $200.74.

About Revolution Medicines

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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