Stephen Michael Kelsey Sells 16,667 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Stephen Michael Kelsey sold 16,667 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $46.47, for a total transaction of $774,515.49. Following the transaction, the insider now owns 269,073 shares of the company’s stock, valued at approximately $12,503,822.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Stephen Michael Kelsey also recently made the following trade(s):

• On Monday, June 24th, Stephen Michael Kelsey sold 200 shares of Revolution Medicines stock. The shares were sold at an average price of $39.00, for a total transaction of $7,800.00.

Revolution Medicines Trading Down 0.7 %

Shares of Revolution Medicines stock traded down $0.35 on Wednesday, reaching $46.42. 2,332,951 shares of the stock were exchanged, compared to its average volume of 1,432,881. Revolution Medicines, Inc. has a 1-year low of $15.44 and a 1-year high of $48.61. The business has a fifty day moving average price of $39.31 and a two-hundred day moving average price of $34.17.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.05. The company’s revenue was down 100.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.72) earnings per share. As a group, equities research analysts anticipate that Revolution Medicines, Inc. will post -3.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on RVMD. Bank of America upped their price objective on shares of Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday. Barclays initiated coverage on Revolution Medicines in a research report on Friday, July 12th. They issued an “overweight” rating and a $52.00 target price for the company. HC Wainwright lifted their price target on Revolution Medicines from $44.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday. Raymond James raised Revolution Medicines from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $36.00 to $48.00 in a report on Wednesday, April 10th. Finally, Jefferies Financial Group began coverage on shares of Revolution Medicines in a research report on Monday, July 8th. They set a “buy” rating and a $63.00 price objective on the stock. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $50.50.

Institutional Investors Weigh In On Revolution Medicines

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC grew its stake in shares of Revolution Medicines by 17.5% during the 2nd quarter. SG Americas Securities LLC now owns 10,730 shares of the company’s stock worth $416,000 after purchasing an additional 1,601 shares during the period. Farallon Capital Management LLC boosted its holdings in Revolution Medicines by 11.4% during the first quarter. Farallon Capital Management LLC now owns 7,507,872 shares of the company’s stock worth $241,979,000 after buying an additional 771,018 shares in the last quarter. Janus Henderson Group PLC grew its position in Revolution Medicines by 77.9% during the first quarter. Janus Henderson Group PLC now owns 3,912,119 shares of the company’s stock worth $126,067,000 after buying an additional 1,712,639 shares during the period. Bayesian Capital Management LP purchased a new position in Revolution Medicines in the first quarter valued at about $338,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Revolution Medicines during the 1st quarter valued at approximately $372,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

About Revolution Medicines

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.