Insider Selling: Revolution Medicines (NASDAQ:RVMD) Director Sells 17,090 Shares of Stock

Key Points

• Revolution Medicines director Lorence Kim sold 17,090 shares at an average price of $209.82, generating proceeds of approximately $3.59 million in a transaction disclosed to the SEC.
• RVMD shares recently traded at $203.35, while the company reported a quarterly loss of $3.06 per share—worse than analysts’ expected loss of $2.04 per share.
• Analysts remain broadly bullish, with an average “Moderate Buy” rating and a $210.70 target price; several firms recently raised targets as high as $320. Institutional investors own 94.34% of the stock.

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) Director Lorence Kim sold 17,090 shares of the firm's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $209.82, for a total transaction of $3,585,823.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Revolution Medicines Stock Performance

Shares of RVMD stock traded down $4.33 during midday trading on Thursday, hitting $203.35. 810,328 shares of the company were exchanged, compared to its average volume of 2,946,601. Revolution Medicines, Inc. has a 52 week low of $42.18 and a 52 week high of $224.31. The firm has a market capitalization of $43.59 billion, a P/E ratio of -23.06 and a beta of 1.40. The firm's 50 day moving average price is $198.08 and its two-hundred day moving average price is $155.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38.

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 period in the prior year, the company posted ($1.31) earnings per share. As a group, equities research analysts anticipate that Revolution Medicines, Inc. will post -8.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Oppenheimer lifted their target price on Revolution Medicines from $230.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, August 27th. TD Cowen raised shares of Revolution Medicines to a "strong-buy" rating in a research report on Monday, August 24th. UBS Group lifted their price objective on shares of Revolution Medicines from $220.00 to $265.00 and gave the stock a "buy" rating in a research note on Friday, August 28th. Evercore reissued an "outperform" rating and issued a $320.00 price objective on shares of Revolution Medicines in a report on Thursday, August 27th. Finally, Guggenheim increased their target price on shares of Revolution Medicines from $240.00 to $275.00 and gave the stock a "buy" rating in a research report on Friday, August 28th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $210.70.

Institutional Trading of Revolution Medicines

A number of institutional investors have recently modified their holdings of RVMD. California State Teachers Retirement System raised its stake in Revolution Medicines by 26,920.9% in the second quarter. California State Teachers Retirement System now owns 44,659,351 shares of the company's stock valued at $8,363,803,000 after purchasing an additional 44,494,074 shares in the last quarter. Alphabet Inc. acquired a new stake in Revolution Medicines during the second quarter worth about $551,843,000. Norges Bank bought a new position in Revolution Medicines in the 4th quarter valued at about $195,568,000. Avoro Capital Advisors LLC acquired a new position in shares of Revolution Medicines in the 4th quarter valued at approximately $172,840,000. Finally, Polar Capital Holdings Plc lifted its holdings in shares of Revolution Medicines by 321.2% during the 4th quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company's stock worth $160,398,000 after acquiring an additional 1,535,686 shares during the period. 94.34% of the stock is currently owned by institutional investors.

About Revolution Medicines

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.