Stock Traders Purchase High Volume of Put Options on Revolution Medicines (NASDAQ:RVMD)

Revolution Medicines, Inc. (NASDAQ:RVMD) was the recipient of unusually large options trading on Monday. Stock investors acquired 22,906 put options on the company. This represents an increase of 450% compared to the typical daily volume of 4,168 put options.

Insiders Place Their Bets

In other Revolution Medicines news, CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $98.00, for a total transaction of $980,000.00. Following the transaction, the chief financial officer directly owned 108,065 shares of the company’s stock, valued at approximately $10,590,370. The trade was a 8.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark A. Goldsmith sold 15,394 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total transaction of $1,182,567.08. Following the completion of the sale, the insider directly owned 232,469 shares of the company’s stock, valued at approximately $17,858,268.58. This represents a 6.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 213,792 shares of company stock valued at $17,948,440 in the last 90 days. 8.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Catalyst Funds Management Pty Ltd raised its stake in Revolution Medicines by 6.4% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 223,569 shares of the company’s stock valued at $17,807,000 after buying an additional 13,400 shares during the last quarter. Jefferies Financial Group Inc. grew its holdings in shares of Revolution Medicines by 8,678.4% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,141,195 shares of the company’s stock worth $90,896,000 after acquiring an additional 1,128,195 shares during the period. Legato Capital Management LLC increased its position in Revolution Medicines by 40.7% during the fourth quarter. Legato Capital Management LLC now owns 48,751 shares of the company’s stock valued at $3,883,000 after acquiring an additional 14,097 shares during the last quarter. Global Retirement Partners LLC increased its position in Revolution Medicines by 1,002.8% during the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after acquiring an additional 361 shares during the last quarter. Finally, Eagle Health Investments LP bought a new position in Revolution Medicines in the fourth quarter valued at about $9,231,000. 94.34% of the stock is owned by institutional investors.

Revolution Medicines Stock Up 0.2%

NASDAQ RVMD traded up $0.18 during mid-day trading on Monday, reaching $97.67. The stock had a trading volume of 360,280 shares, compared to its average volume of 4,835,675. The stock has a market cap of $18.88 billion, a PE ratio of -18.89 and a beta of 1.01. Revolution Medicines has a 1 year low of $29.17 and a 1 year high of $124.49. 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 company has a fifty day moving average price of $92.51 and a 200 day moving average price of $64.13.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a research note on Friday, January 9th. Needham & Company LLC raised their target price on shares of Revolution Medicines from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a report on Thursday, January 22nd. Mizuho started coverage on Revolution Medicines in a research note on Tuesday, October 21st. They issued an “outperform” rating and a $90.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price objective on Revolution Medicines from $71.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Revolution Medicines presently has an average rating of “Buy” and a consensus price target of $78.94.

About Revolution Medicines

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.