Insider Selling: Revolution Medicines (NASDAQ:RVMD) CFO Sells 2,320 Shares of Stock

Key Points

• Revolution Medicines CFO Jack Anders sold 2,320 shares of the company's stock at an average price of $45.82, resulting in a total transaction of $106,302.40, reducing his position by 2.05%.
• The stock of Revolution Medicines trades at $45.28, an increase of 3.4% during the trading session, with a market cap of $8.46 billion.
• Analysts have set a consensus target price of $73.67 for Revolution Medicines, with ratings indicating strong buy sentiment from several brokerages.

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) CFO Jack Anders sold 2,320 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total value of $106,302.40. Following the completion of the sale, the chief financial officer directly owned 110,994 shares in the company, valued at $5,085,745.08. This represents a 2.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Jack Anders also recently made the following trade(s):

• On Tuesday, September 2nd, Jack Anders sold 4,762 shares of Revolution Medicines stock. The shares were sold at an average price of $40.02, for a total value of $190,575.24.
• On Wednesday, September 3rd, Jack Anders sold 5,238 shares of Revolution Medicines stock. The shares were sold at an average price of $40.17, for a total value of $210,410.46.

Revolution Medicines Stock Up 2.0%

RVMD traded up $0.87 during trading on Monday, reaching $44.41. The company's stock had a trading volume of 1,768,629 shares, compared to its average volume of 2,155,438. The company's fifty day moving average price is $38.65 and its 200-day moving average price is $38.36. The company has a debt-to-equity ratio of 0.13, a current ratio of 11.79 and a quick ratio of 11.79. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.37). The company's revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the firm earned ($0.81) earnings per share. Research analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Truist Financial assumed coverage on Revolution Medicines in a research note on Friday, September 5th. They set a "buy" rating and a $99.00 price target on the stock. Guggenheim restated a "buy" rating and set a $80.00 price objective on shares of Revolution Medicines in a research report on Wednesday, June 25th. Wedbush lifted their price objective on Revolution Medicines from $73.00 to $77.00 and gave the stock an "outperform" rating in a research report on Thursday, September 11th. Lifesci Capital assumed coverage on Revolution Medicines in a research report on Monday, August 18th. They set an "outperform" rating and a $80.00 price objective for the company. Finally, The Goldman Sachs Group lifted their price objective on Revolution Medicines from $65.00 to $73.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $73.67.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. CWM LLC raised its holdings in Revolution Medicines by 171.3% in the 2nd quarter. CWM LLC now owns 917 shares of the company's stock valued at $34,000 after acquiring an additional 579 shares during the last quarter. Banque Transatlantique SA acquired a new position in Revolution Medicines in the 1st quarter valued at $42,000. Quarry LP acquired a new position in Revolution Medicines in the 1st quarter valued at $50,000. Twin Tree Management LP acquired a new position in Revolution Medicines in the 1st quarter valued at $58,000. Finally, a16z Perennial Management L.P. acquired a new position in Revolution Medicines in the 2nd quarter valued at $67,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

About Revolution Medicines

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company's research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.