Revolution Medicines (NASDAQ:RVMD) CFO Jack Anders Sells 2,722 Shares

Revolution Medicines, Inc. (NASDAQ:RVMD) CFO Jack Anders sold 2,722 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $424,958.64. Following the sale, the chief financial officer directly owned 123,269 shares in the company, valued at $19,244,756.28. The trade was a 2.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Stock Up 3.3%

NASDAQ:RVMD opened at $162.99 on Friday. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $166.50. The stock has a 50-day moving average price of $145.72 and a two-hundred day moving average price of $112.99. The stock has a market cap of $34.65 billion, a price-to-earnings ratio of -23.05 and a beta of 1.40. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period in the prior year, the business earned ($1.13) earnings per share. As a group, equities analysts expect that Revolution Medicines, Inc. will post -7.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RVMD. Sanford C. Bernstein started coverage on shares of Revolution Medicines in a research note on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price target on the stock. Evercore reissued an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Oppenheimer raised their price objective on shares of Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. HC Wainwright boosted their price objective on shares of Revolution Medicines from $169.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Revolution Medicines has a consensus rating of “Buy” and an average price target of $123.72.

Hedge Funds Weigh In On Revolution Medicines

A number of large investors have recently bought and sold shares of RVMD. Vanguard Group Inc. raised its position in Revolution Medicines by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after acquiring an additional 1,056,792 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Revolution Medicines by 194.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock valued at $1,696,000 after acquiring an additional 14,062 shares during the period. Raiffeisen Bank International AG acquired a new position in shares of Revolution Medicines during the 3rd quarter worth about $921,000. Mass General Brigham Inc acquired a new position in shares of Revolution Medicines during the 4th quarter worth about $27,407,000. Finally, M&T Bank Corp acquired a new position in shares of Revolution Medicines during the 4th quarter worth about $52,723,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

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.