Jack Anders Sells 2,722 Shares of Revolution Medicines (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) CFO Jack Anders sold 2,722 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total transaction of $424,958.64. Following the completion of the transaction, the chief financial officer owned 123,269 shares in the company, valued at approximately $19,244,756.28. This trade represents a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $162.99 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $166.50. The firm has a market cap of $34.65 billion, a PE ratio of -23.05 and a beta of 1.40. The company has a 50 day simple moving average of $147.04 and a two-hundred day simple moving average of $113.34.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period in the previous year, the company earned ($1.13) EPS. Analysts expect that Revolution Medicines, Inc. will post -7.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RVMD shares. Piper Sandler raised their price target on Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a report on Monday, June 1st. Royal Bank Of Canada increased their price objective on Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a report on Tuesday, April 21st. Finally, Guggenheim boosted their target price on Revolution Medicines to $205.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $123.72.

Hedge Funds Weigh In On Revolution Medicines

A number of large investors have recently added to or reduced their stakes in the business. Nextech Invest Ltd. boosted its position in Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after buying an additional 1,304,347 shares during the period. Millennium Management LLC increased its holdings in shares of Revolution Medicines by 681.8% in the first quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock worth $5,529,000 after buying an additional 136,353 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Revolution Medicines by 14.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company’s stock worth $10,615,000 after buying an additional 37,345 shares during the period. Invesco Ltd. lifted its stake in shares of Revolution Medicines by 19.3% in the 2nd quarter. Invesco Ltd. now owns 227,019 shares of the company’s stock valued at $8,352,000 after acquiring an additional 36,760 shares during the last quarter. Finally, Jump Financial LLC lifted its stake in shares of Revolution Medicines by 87.9% in the 2nd quarter. Jump Financial LLC now owns 15,258 shares of the company’s stock valued at $561,000 after acquiring an additional 7,137 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Company Profile

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.