Lorence Kim Sells 17,090 Shares of Revolution Medicines (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) Director Lorence Kim sold 17,090 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $209.82, for a total transaction of $3,585,823.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Revolution Medicines Price Performance

Revolution Medicines stock opened at $203.77 on Friday. The company has a market cap of $43.68 billion, a price-to-earnings ratio of -23.10 and a beta of 1.40. The firm’s fifty day moving average is $198.66 and its 200 day moving average is $156.23. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40. Revolution Medicines, Inc. has a 52-week low of $42.18 and a 52-week high of $224.31.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same period last year, the firm earned ($1.31) EPS. Sell-side analysts forecast that Revolution Medicines, Inc. will post -8.84 EPS for the current fiscal year.

Institutional Trading of Revolution Medicines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RVMD. Contravisory Investment Management Inc. purchased a new position in shares of Revolution Medicines during the second quarter valued at approximately $32,000. Global Retirement Partners LLC raised its holdings in shares of Revolution Medicines by 1,002.8% in the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after buying an additional 361 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of Revolution Medicines during the 2nd quarter worth approximately $37,000. Arax Advisory Partners bought a new stake in shares of Revolution Medicines during the 4th quarter worth approximately $38,000. Finally, Silvant Capital Management LLC purchased a new position in Revolution Medicines during the 2nd quarter valued at $41,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Morgan Stanley initiated coverage on Revolution Medicines in a research note on Thursday. They set an “overweight” rating and a $255.00 price objective on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $248.00 price objective on shares of Revolution Medicines in a research note on Thursday, August 27th. Sanford C. Bernstein lifted their target price on Revolution Medicines from $151.00 to $179.00 and gave the stock a “market perform” rating in a report on Friday, August 21st. Stifel Nicolaus boosted their target price on Revolution Medicines from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Mizuho increased their price target on Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $226.17.

About Revolution Medicines

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.