Revolution Medicines (NASDAQ:RVMD) Director Lorence Kim Sells 17,090 Shares

Revolution Medicines, Inc. (NASDAQ:RVMD) Director Lorence Kim sold 17,090 shares of Revolution Medicines stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $209.82, for a total value of $3,585,823.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Revolution Medicines Price Performance

Shares of RVMD stock traded down $4.33 on Thursday, hitting $203.35. 810,328 shares of the company’s stock were exchanged, compared to its average volume of 2,946,601. The company has a 50 day moving average of $198.08 and a 200 day moving average of $155.18. The stock has a market cap of $43.59 billion, a P/E ratio of -23.06 and a beta of 1.40. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. Revolution Medicines, Inc. has a 12 month low of $42.18 and a 12 month high of $224.31.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period in the previous year, the business earned ($1.31) earnings per share. On average, equities research analysts predict that Revolution Medicines, Inc. will post -8.83 EPS for the current year.

Hedge Funds Weigh In On Revolution Medicines

Several institutional investors and hedge funds have recently added to or reduced their stakes in RVMD. Contravisory Investment Management Inc. bought a new stake in shares of Revolution Medicines in the second quarter worth $32,000. ABS Investment Management LLC bought a new position in Revolution Medicines during the 2nd quarter worth $337,104,000. Johnson Financial Group Inc. bought a new position in Revolution Medicines during the 2nd quarter worth $37,000. Northwestern Mutual Wealth Management Co. acquired a new position in Revolution Medicines during the 2nd quarter worth about $41,000. Finally, Silvant Capital Management LLC bought a new stake in shares of Revolution Medicines in the 2nd quarter valued at about $41,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on RVMD. TD Cowen upgraded shares of Revolution Medicines to a “strong-buy” rating in a research report on Monday, August 24th. Stifel Nicolaus raised their target price on shares of Revolution Medicines from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore reaffirmed an “outperform” rating and set a $320.00 target price on shares of Revolution Medicines in a research note on Thursday, August 27th. Guggenheim upped their price target on shares of Revolution Medicines from $240.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Finally, Oppenheimer increased their price target on Revolution Medicines from $230.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $210.70.

About Revolution Medicines

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.

Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.