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

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 stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total value of $245,915.94. Following the sale, the insider directly owned 284,047 shares of the company's stock, valued at $13,015,033.54. The trade was a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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 shares were 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

Shares of RVMD stock traded down $1.68 during midday trading on Friday, reaching $43.54. 2,868,241 shares of the company traded hands, compared to its average volume of 2,066,615. The firm's 50 day simple moving average is $38.65 and its two-hundred day simple moving average is $38.37. The firm has a market cap of $8.14 billion, a PE ratio of -9.68 and a beta of 1.12. 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 1-year low of $29.17 and a 1-year high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued 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 business posted ($0.81) earnings per share. The business's 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 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on RVMD shares. Piper Sandler started coverage on shares of Revolution Medicines in a research report on Monday, August 18th. They issued an "overweight" rating and a $75.00 price objective for the company. Guggenheim reaffirmed a "buy" rating and set a $80.00 target price on shares of Revolution Medicines in a research report on Wednesday, June 25th. Lifesci Capital began coverage on Revolution Medicines in a report on Monday, August 18th. They issued an "outperform" rating and a $80.00 price target for the company. Wells Fargo & Company lifted their price objective on Revolution Medicines from $67.00 to $70.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Finally, Truist Financial began coverage on Revolution Medicines in a research report on Friday, September 5th. They issued a "buy" rating and a $99.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. According to MarketBeat, Revolution Medicines presently has a consensus rating of "Buy" and an average price target of $73.67.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its stake in Revolution Medicines by 171.3% in the second quarter. CWM LLC now owns 917 shares of the company's stock valued at $34,000 after buying an additional 579 shares during the last quarter. Banque Transatlantique SA bought a new stake in Revolution Medicines in the 1st quarter valued at about $42,000. Quarry LP bought a new position in Revolution Medicines in the 1st quarter worth about $50,000. Twin Tree Management LP acquired a new stake in shares of Revolution Medicines in the first quarter valued at approximately $58,000. Finally, a16z Perennial Management L.P. bought a new stake in shares of Revolution Medicines during the second quarter valued at approximately $67,000. 94.34% of the stock is currently owned by institutional investors.

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.