Revolution Medicines (NASDAQ:RVMD) Insider Sells $1,213,500.00 in Stock

Key Points

• Insider Stephen Michael Kelsey sold 25,000 shares of Revolution Medicines at an average price of $48.54, totaling $1,213,500, resulting in an 8.09% decrease in his ownership.
• Revolution Medicines reported a loss of ($1.31) per share for the last quarter, missing analyst expectations and showing a 0.0% increase in quarterly revenue compared to the previous year.
• The stock performance has shown a market capitalization of $9.26 billion with a P/E ratio of -11.01 and has a 1-year high of $62.40.

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) insider Stephen Michael Kelsey sold 25,000 shares of Revolution Medicines stock in a transaction on Monday, October 13th. The stock was sold at an average price of $48.54, for a total value of $1,213,500.00. Following the sale, the insider owned 284,047 shares in the company, valued at $13,787,641.38. This trade represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Tuesday, September 16th, Stephen Michael Kelsey sold 5,367 shares of Revolution Medicines stock. The shares were sold at an average price of $45.82, for a total value of $245,915.94.
• On Thursday, September 11th, Stephen Michael Kelsey sold 100,000 shares of Revolution Medicines stock. The stock was sold at an average price of $44.08, for a total value of $4,408,000.00.
• On Monday, September 15th, Stephen Michael Kelsey sold 25,000 shares of Revolution Medicines stock. The stock was sold at an average price of $45.97, for a total transaction of $1,149,250.00.

Revolution Medicines Stock Performance

NASDAQ RVMD traded up $2.06 during trading hours on Wednesday, reaching $49.56. 2,300,390 shares of the company were exchanged, compared to its average volume of 1,917,260. The stock has a market capitalization of $9.26 billion, a P/E ratio of -11.01 and a beta of 1.27. The company has a quick ratio of 11.79, a current ratio of 11.79 and a debt-to-equity ratio of 0.13. Revolution Medicines, Inc. has a 1 year low of $29.17 and a 1 year high of $62.40. The business's 50 day simple moving average is $41.46 and its 200-day simple moving average is $39.25.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($1.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.37). During the same quarter in the previous year, the company earned ($0.81) EPS. Revolution Medicines's quarterly revenue was up .0% compared to the same quarter last year. On average, equities research analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Institutional Trading of Revolution Medicines

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Lunate Capital Ltd purchased a new position in Revolution Medicines in the 1st quarter worth approximately $77,658,000. Norges Bank purchased a new position in Revolution Medicines in the 2nd quarter worth approximately $62,584,000. T. Rowe Price Investment Management Inc. purchased a new position in Revolution Medicines in the 1st quarter worth approximately $59,173,000. Nextech Invest Ltd. grew its stake in Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock worth $332,472,000 after buying an additional 1,304,347 shares in the last quarter. Finally, Vestal Point Capital LP purchased a new position in Revolution Medicines in the 2nd quarter worth approximately $44,148,000. Institutional investors own 94.34% of the company's stock.

Wall Street Analyst Weigh In

RVMD has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Revolution Medicines in a research report on Wednesday, October 8th. Guggenheim reaffirmed a "buy" rating and set a $80.00 price objective on shares of Revolution Medicines in a report on Wednesday, June 25th. Wells Fargo & Company lifted their target price on shares of Revolution Medicines from $67.00 to $70.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. The Goldman Sachs Group upped their price target on shares of Revolution Medicines from $65.00 to $73.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Finally, Wedbush lifted their price objective on shares of Revolution Medicines from $73.00 to $77.00 and gave the company an "outperform" rating in a research note on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $76.14.

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.

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