Revolution Medicines (NASDAQ:RVMD) Insider Stephen Michael Kelsey Sells 5,447 Shares

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Stephen Michael Kelsey sold 5,447 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total value of $418,438.54. Following the completion of the transaction, the insider directly owned 278,600 shares of the company’s stock, valued at approximately $21,402,052. This trade represents a 1.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, October 13th, Stephen Michael Kelsey sold 25,000 shares of Revolution Medicines stock. The shares were sold at an average price of $48.54, for a total transaction of $1,213,500.00.

Revolution Medicines Stock Performance

Revolution Medicines stock traded down $0.78 during midday trading on Thursday, reaching $75.96. 2,749,530 shares of the company traded hands, compared to its average volume of 2,009,908. Revolution Medicines, Inc. has a 12 month low of $29.17 and a 12 month high of $81.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.05 and a quick ratio of 8.05. The business has a 50 day moving average of $65.55 and a two-hundred day moving average of $48.76. The firm has a market capitalization of $14.68 billion, a price-to-earnings ratio of -14.69 and a beta of 0.96.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same quarter in the previous year, the company earned ($0.94) earnings per share. As a group, research analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Institutional Investors Weigh In On Revolution Medicines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RVMD. S&CO Inc. lifted its stake in shares of Revolution Medicines by 54.5% during the 2nd quarter. S&CO Inc. now owns 14,171 shares of the company’s stock valued at $521,000 after buying an additional 5,000 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Revolution Medicines in the 2nd quarter worth $3,639,000. Harbor Capital Advisors Inc. raised its holdings in Revolution Medicines by 64.7% during the second quarter. Harbor Capital Advisors Inc. now owns 58,323 shares of the company’s stock valued at $2,146,000 after acquiring an additional 22,906 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Revolution Medicines by 7.6% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 71,311 shares of the company’s stock valued at $2,624,000 after acquiring an additional 5,060 shares during the period. Finally, Catalyst Funds Management Pty Ltd purchased a new position in shares of Revolution Medicines in the second quarter valued at about $1,678,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RVMD. Wedbush raised their target price on Revolution Medicines from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Mizuho assumed coverage on shares of Revolution Medicines in a research note on Tuesday, October 21st. They issued an “outperform” rating and a $90.00 price objective on the stock. National Bankshares set a $80.00 price objective on shares of Revolution Medicines in a report on Friday, October 17th. UBS Group upgraded shares of Revolution Medicines to a “strong-buy” rating in a research report on Thursday, December 4th. Finally, Stifel Nicolaus began coverage on shares of Revolution Medicines in a research report on Wednesday, October 15th. They issued a “buy” rating and a $85.00 price target on the stock. Four analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $78.50.

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.