Revolution Medicines (NASDAQ:RVMD) Insider Stephen Michael Kelsey Sells 5,367 Shares

Key Points

• Revolution Medicines' insider, Stephen Michael Kelsey, sold 5,367 shares of the company for approximately $245,915.94, reducing his position by 1.85% to 284,047 shares valued at over $13 million.
• The company's shares recently traded up 3.4% to $45.28, with a market capitalization of $8.46 billion and a notable price-to-earnings ratio of -10.06.
• Analysts maintain a positive outlook with most ratings being "Buy" or "Outperform," and an average price target of $73.67 for Revolution Medicines' stock.

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) insider Stephen Michael Kelsey sold 5,367 shares of the firm's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total transaction of $245,915.94. Following the sale, the insider owned 284,047 shares of the company's stock, valued at approximately $13,015,033.54. The trade was a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• 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 transaction 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 Price Performance

Revolution Medicines stock traded up $0.87 during midday trading on Monday, hitting $44.41. 1,768,629 shares of the stock were exchanged, compared to its average volume of 2,155,438. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $62.40. The stock's 50-day simple moving average is $38.65 and its 200 day simple moving average 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 (NASDAQ:RVMD - Get Free Report) last announced its quarterly 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 last year, the business posted ($0.81) EPS. Revolution Medicines's quarterly revenue was up .0% on a year-over-year basis. As a group, equities analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RVMD shares. Needham & Company LLC lifted their price target on shares of Revolution Medicines from $56.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, September 11th. Wells Fargo & Company lifted their price target on shares of Revolution Medicines from $67.00 to $70.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. Piper Sandler started coverage on shares of Revolution Medicines in a research report on Monday, August 18th. They set an "overweight" rating and a $75.00 price target for the company. Truist Financial started coverage on shares of Revolution Medicines in a research report on Friday, September 5th. They set a "buy" rating and a $99.00 price target for the company. Finally, The Goldman Sachs Group lifted their price target on shares of Revolution Medicines from $65.00 to $73.00 and gave the company 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 company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $73.67.

Institutional Trading of Revolution Medicines

Institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Revolution Medicines by 11.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company's stock worth $232,000 after buying an additional 615 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Revolution Medicines by 64.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 58,323 shares of the company's stock worth $2,146,000 after buying an additional 22,906 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Revolution Medicines during the 1st quarter worth approximately $502,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Revolution Medicines by 6.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 109,004 shares of the company's stock worth $3,870,000 after buying an additional 6,877 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of Revolution Medicines by 48.8% during the 1st quarter. Intech Investment Management LLC now owns 107,628 shares of the company's stock worth $3,806,000 after buying an additional 35,300 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company's stock.

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.