Stephen Michael Kelsey Sells 4,175 Shares of Revolution Medicines (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMDGet Free Report) insider Stephen Michael Kelsey sold 4,175 shares of Revolution Medicines stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $651,801.00. Following the completion of the sale, the insider directly owned 291,876 shares in the company, valued at $45,567,681.12. This represents a 1.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Price Performance

NASDAQ RVMD traded up $5.22 on Thursday, hitting $162.99. The company had a trading volume of 4,701,208 shares, compared to its average volume of 3,310,265. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. The company’s fifty day moving average price is $144.38 and its 200-day moving average price is $112.39. The company has a market capitalization of $34.65 billion, a PE ratio of -23.05 and a beta of 1.40. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $166.50.

Revolution Medicines (NASDAQ:RVMDGet Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the firm earned ($1.13) EPS. As a group, analysts predict that Revolution Medicines, Inc. will post -7.94 earnings per share for the current year.

Wall Street Analyst Weigh In

RVMD has been the topic of several research analyst reports. Truist Financial initiated coverage on Revolution Medicines in a report on Monday, May 18th. They issued a “buy” rating and a $179.00 price objective on the stock. Sanford C. Bernstein began coverage on Revolution Medicines in a research report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 target price on the stock. UBS Group started coverage on Revolution Medicines in a research note on Friday, February 27th. They issued a “buy” rating on the stock. HC Wainwright increased their price objective on Revolution Medicines from $169.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Finally, Jefferies Financial Group started coverage on Revolution Medicines in a report on Monday, March 16th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Revolution Medicines has an average rating of “Buy” and a consensus price target of $123.72.

Read Our Latest Stock Analysis on Revolution Medicines

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Seven Fleet Capital Management LP boosted its holdings in shares of Revolution Medicines by 22.8% during the 1st quarter. Seven Fleet Capital Management LP now owns 80,792 shares of the company’s stock worth $7,857,000 after purchasing an additional 14,992 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Revolution Medicines by 181.0% in the first quarter. Parallel Advisors LLC now owns 562 shares of the company’s stock valued at $55,000 after purchasing an additional 362 shares during the last quarter. Perceptive Advisors LLC acquired a new stake in shares of Revolution Medicines in the first quarter valued at approximately $25,149,000. Avidity Partners Management LP purchased a new position in Revolution Medicines during the first quarter worth approximately $1,459,000. Finally, Edgestream Partners L.P. purchased a new position in Revolution Medicines during the first quarter worth approximately $6,736,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

About Revolution Medicines

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Revolution Medicines (NASDAQ:RVMD)

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