Revolution Medicines (NASDAQ:RVMD) Insider Sells $98,971.20 in Stock

Key Points

• Insider Activity: Lin Wei, an insider at Revolution Medicines, sold 2,160 shares of stock for a total of $98,971.20, reducing their ownership by 2.39% to 88,339 shares valued at approximately $4.05 million.
• Stock Performance: The company's stock (RVMD) traded at $45.28, with a one-year trading range between $29.17 and $62.40, and a market capitalization of $8.46 billion.
• Earnings Report: Revolution Medicines reported a loss of ($1.31) earnings per share for the last quarter, falling short of estimates, while a consensus forecast predicts a full-year EPS of -3.49.

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) insider Lin Wei sold 2,160 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total transaction of $98,971.20. Following the completion of the sale, the insider owned 88,339 shares of the company's stock, valued at $4,047,692.98. The trade was a 2.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Revolution Medicines Price Performance

Shares of RVMD traded up $0.87 during mid-day trading on Monday, hitting $44.41. 1,768,629 shares of the company traded hands, compared to its average volume of 2,155,438. The company has a debt-to-equity ratio of 0.13, a current ratio of 11.79 and a quick ratio of 11.79. The business has a 50-day moving average of $38.65 and a 200 day moving average of $38.36. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($1.31) earnings per share 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 in the previous year, the company posted ($0.81) EPS. As a group, analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Institutional Trading of Revolution Medicines

Hedge funds have recently modified their holdings of the company. Lunate Capital Ltd acquired a new position in Revolution Medicines during the first quarter valued at approximately $77,658,000. Norges Bank acquired a new stake in Revolution Medicines during the 2nd quarter worth $62,584,000. T. Rowe Price Investment Management Inc. acquired a new stake in Revolution Medicines during the 1st quarter worth $59,173,000. Nextech Invest Ltd. lifted its holdings in Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock worth $332,472,000 after acquiring an additional 1,304,347 shares in the last quarter. Finally, Vestal Point Capital LP acquired a new position in Revolution Medicines in the second quarter valued at about $44,148,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RVMD has been the topic of several research reports. Wedbush upped their price target on Revolution Medicines from $73.00 to $77.00 and gave the company an "outperform" rating in a research note on Thursday, September 11th. Needham & Company LLC boosted their price objective on Revolution Medicines from $56.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, September 11th. Wells Fargo & Company raised their target price on shares of Revolution Medicines from $67.00 to $70.00 and gave the company an "overweight" rating in a research note on Thursday, September 11th. Guggenheim reiterated a "buy" rating and set a $80.00 price target on shares of Revolution Medicines in a research report on Wednesday, June 25th. Finally, Truist Financial assumed coverage on shares of Revolution Medicines in a research note on Friday, September 5th. They set a "buy" rating and a $99.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $73.67.

Revolution Medicines Company Profile

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.