Stephen Michael Kelsey Sells 5,569 Shares of Revolution Medicines (NASDAQ:RVMD) Stock

Key Points

• Insider sale: Stephen Michael Kelsey sold 5,569 Revolution Medicines shares for approximately $1.11 million at an average price of $199.24 to cover tax withholding related to vested equity awards. He retained 286,307 shares after the transaction.
• Stock performance and earnings: RVMD recently traded at $190.95, with a 52-week range of $42.18 to $224.31. The company reported quarterly EPS of negative $3.06, missing the consensus estimate of negative $2.04.
• Analyst outlook: Analysts maintain a consensus “Moderate Buy” rating with an average price target of $226.17, while institutional investors own 94.34% of the company’s stock.

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) insider Stephen Kelsey sold 5,569 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $199.24, for a total transaction of $1,109,567.56. Following the completion of the transaction, the insider directly owned 286,307 shares in the company, valued at $57,043,806.68. The trade was a 1.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Stephen Michael Kelsey also recently made the following trade(s):

• On Friday, September 11th, Stephen Kelsey sold 92,531 shares of Revolution Medicines stock. The stock was sold at an average price of $202.36, for a total transaction of $18,724,573.16.

Revolution Medicines Stock Performance

RVMD traded down $5.99 on Friday, reaching $190.95. The company had a trading volume of 5,937,950 shares, compared to its average volume of 2,930,039. Revolution Medicines, Inc. has a fifty-two week low of $42.18 and a fifty-two week high of $224.31. The stock has a market cap of $40.93 billion, a P/E ratio of -21.65 and a beta of 1.40. The company's fifty day moving average is $199.49 and its 200 day moving average is $159.35. 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 the consensus estimate of ($2.04) by ($1.02). During the same period in the previous year, the business posted ($1.31) EPS. As a group, analysts predict that Revolution Medicines, Inc. will post -8.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RVMD. Raymond James Financial reissued a "strong-buy" rating and set a $248.00 price target on shares of Revolution Medicines in a report on Thursday, August 27th. Truist Financial lifted their target price on Revolution Medicines from $231.00 to $239.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of Revolution Medicines in a research report on Friday, July 17th. Wedbush upped their price target on shares of Revolution Medicines from $201.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, August 27th. Finally, Stifel Nicolaus upped their price target on shares of Revolution Medicines from $215.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, September 9th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Revolution Medicines presently has a consensus rating of "Moderate Buy" and an average price target of $226.17.

Institutional Investors Weigh In On Revolution Medicines

Large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its holdings in Revolution Medicines by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company's stock valued at $980,036,000 after acquiring an additional 947,448 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Revolution Medicines by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 3,161,963 shares of the company's stock worth $251,912,000 after purchasing an additional 16,323 shares in the last quarter. Alphabet Inc. acquired a new stake in shares of Revolution Medicines during the 2nd quarter worth $551,843,000. Westfield Capital Management Co. LP increased its position in shares of Revolution Medicines by 13.2% in the fourth quarter. Westfield Capital Management Co. LP now owns 2,845,013 shares of the company's stock worth $226,605,000 after purchasing an additional 331,046 shares during the period. Finally, General Atlantic L.P. raised its stake in Revolution Medicines by 13.7% in the fourth quarter. General Atlantic L.P. now owns 2,812,928 shares of the company's stock valued at $224,050,000 after purchasing an additional 338,500 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company's stock.

Revolution Medicines Company Profile

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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