Revolution Medicines (NASDAQ:RVMD) Stock: Insider Elizabeth Anderson Sells 10,143 Shares

Key Points

• Director Elizabeth Anderson sold 10,143 Revolution Medicines shares at an average price of $193.04, generating approximately $1.96 million. The transaction reduced her direct holdings by 70.07% to 4,333 shares.
• RVMD shares rose 4.8% to $199.86, while the company’s latest quarterly loss of $3.06 per share was worse than analysts’ expected loss of $2.04.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $230.15; institutional investors own 94.34% of the stock.

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) Director Elizabeth Anderson sold 10,143 shares of the business's stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $193.04, for a total transaction of $1,958,004.72. Following the completion of the transaction, the director directly owned 4,333 shares of the company's stock, valued at $836,442.32. This trade represents a 70.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Revolution Medicines Trading Up 4.8%

Shares of RVMD traded up $9.12 during trading hours on Thursday, reaching $199.86. The stock had a trading volume of 4,061,818 shares, compared to its average volume of 2,920,436. The company has a market cap of $42.84 billion, a P/E ratio of -22.66 and a beta of 1.40. Revolution Medicines, Inc. has a 52 week low of $42.18 and a 52 week high of $224.31. 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 firm has a 50-day moving average of $200.03 and a 200 day moving average of $161.91.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its earnings results 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 company posted ($1.31) earnings per share. On average, sell-side analysts expect that Revolution Medicines, Inc. will post -8.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Revolution Medicines

Hedge funds and other institutional investors have recently bought and sold shares of the company. QRG Capital Management Inc. boosted its position in 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 during the last quarter. Andra AP fonden raised its holdings in shares of Revolution Medicines by 69.9% in the second quarter. Andra AP fonden now owns 28,200 shares of the company's stock valued at $5,281,000 after purchasing an additional 11,600 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Revolution Medicines in the second quarter valued at approximately $626,000. MCF Advisors LLC bought a new stake in shares of Revolution Medicines in the second quarter worth $78,000. Finally, National Pension Service bought a new stake in shares of Revolution Medicines in the second quarter worth $51,241,000. Institutional investors and hedge funds own 94.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RVMD shares. The Goldman Sachs Group began coverage on Revolution Medicines in a research report on Thursday. They issued a "buy" rating and a $267.00 price objective for the company. Bank of America lifted their price target on shares of Revolution Medicines from $225.00 to $265.00 and gave the company a "buy" rating in a research note on Monday. Morgan Stanley began coverage on shares of Revolution Medicines in a report on Thursday, September 10th. They issued an "overweight" rating and a $255.00 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Revolution Medicines in a research report on Friday, July 17th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $248.00 price objective on shares of Revolution Medicines in a report on Thursday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $230.15.

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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