Insider Selling: Revolution Medicines (NASDAQ:RVMD) Insider Sells $18,724,573.16 in Stock

Key Points

• Insider sale: Stephen Kelsey sold 92,531 Revolution Medicines shares for approximately $18.7 million, reducing his position by 24.07% while retaining 291,876 shares.
• Stock and earnings: RVMD recently traded at $204.86, near its 52-week high, but the company reported a quarterly loss of $3.06 per share, missing expectations of a $2.04 loss.
• Analyst sentiment remains positive: The stock has a consensus “Moderate Buy” rating and an average price target of $226.17, despite one sell rating; institutional investors own 94.34% of the company.

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) insider Stephen Kelsey sold 92,531 shares of the business's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $202.36, for a total transaction of $18,724,573.16. Following the transaction, the insider owned 291,876 shares in the company, valued at $59,064,027.36. The trade was a 24.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Revolution Medicines Stock Down 0.1%

Shares of RVMD traded down $0.25 during trading hours on Tuesday, hitting $204.86. The stock had a trading volume of 1,268,481 shares, compared to its average volume of 2,918,653. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. The firm has a 50 day simple moving average of $198.96 and a 200-day simple moving average of $157.30. The firm has a market capitalization of $43.91 billion, a P/E ratio of -23.23 and a beta of 1.40. Revolution Medicines, Inc. has a 1-year low of $42.18 and a 1-year high of $224.31.

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

Analyst Ratings Changes

RVMD has been the topic of several research reports. Stifel Nicolaus boosted their price target on shares of Revolution Medicines from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, September 9th. Wolfe Research reissued an "outperform" rating and issued a $220.00 price target on shares of Revolution Medicines in a report on Monday, August 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Revolution Medicines in a report on Friday, July 17th. Mizuho raised their target price on shares of Revolution Medicines from $185.00 to $215.00 and gave the company an "outperform" rating in a research note on Monday, July 6th. Finally, TD Cowen raised Revolution Medicines to a "strong-buy" rating in a report on Monday, August 24th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $226.17.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Equitable Holdings Inc. bought a new stake in shares of Revolution Medicines in the 2nd quarter worth approximately $963,000. State of Wyoming purchased a new stake in shares of Revolution Medicines during the second quarter valued at $1,769,000. Handelsbanken Fonder AB lifted its position in Revolution Medicines by 243.6% during the second quarter. Handelsbanken Fonder AB now owns 212,275 shares of the company's stock valued at $39,755,000 after purchasing an additional 150,500 shares during the period. Eagle Health Investments LP purchased a new stake in Revolution Medicines during the fourth quarter valued at $9,231,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Revolution Medicines in the 2nd quarter worth approximately $112,566,000. Institutional investors own 94.34% of the company's stock.

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.

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