Revolution Medicines (NASDAQ:RVMD) Director Elizabeth Anderson Sells 10,143 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) Director Elizabeth Anderson sold 10,143 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $193.04, for a total value of $1,958,004.72. Following the transaction, the director owned 4,333 shares of the company’s stock, valued at $836,442.32. This trade represents a 70.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Revolution Medicines Price Performance

Shares of RVMD stock opened at $199.86 on Friday. Revolution Medicines, Inc. has a 1 year low of $42.18 and a 1 year high of $224.31. The firm’s 50 day moving average is $200.44 and its 200-day moving average is $162.63. The firm has a market capitalization of $42.84 billion, a price-to-earnings ratio of -22.66 and a beta of 1.40. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same quarter last year, the business earned ($1.31) EPS. Sell-side analysts forecast that Revolution Medicines, Inc. will post -8.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RVMD shares. Raymond James Financial reiterated a “strong-buy” rating and issued a $248.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 27th. Guggenheim lifted their price target on shares of Revolution Medicines from $240.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Morgan Stanley initiated coverage on shares of Revolution Medicines in a report on Thursday, September 10th. They issued an “overweight” rating and a $255.00 price objective on the stock. Bank of America raised their price objective on shares of Revolution Medicines from $225.00 to $265.00 and gave the company a “buy” rating in a research note on Monday. Finally, Sanford C. Bernstein upped their target price on shares of Revolution Medicines from $151.00 to $179.00 and gave the company a “market perform” rating in a research report on Friday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Revolution Medicines presently has an average rating of “Moderate Buy” and an average target price of $230.15.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. QRG Capital Management Inc. lifted its position in Revolution Medicines by 31.6% during the 2nd quarter. QRG Capital Management Inc. now owns 8,083 shares of the company’s stock worth $1,514,000 after buying an additional 1,943 shares in the last quarter. Andra AP fonden grew its stake in Revolution Medicines by 69.9% in the second quarter. Andra AP fonden now owns 28,200 shares of the company’s stock valued at $5,281,000 after purchasing an additional 11,600 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Revolution Medicines in the second quarter valued at approximately $626,000. MCF Advisors LLC acquired a new position in Revolution Medicines during the second quarter worth $78,000. Finally, National Pension Service bought a new position in Revolution Medicines during the second quarter worth about $51,241,000. Institutional investors own 94.34% of the company’s stock.

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.