Revolution Medicines Sees Unusually High Options Volume (NASDAQ:RVMD)

Revolution Medicines, Inc. (NASDAQ:RVMD) saw unusually large options trading on Friday. Traders acquired 6,313 put options on the stock. This represents an increase of approximately 154% compared to the average volume of 2,484 put options.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RVMD. Wedbush restated an “outperform” rating on shares of Revolution Medicines in a research note on Friday, January 9th. Needham & Company LLC increased their price target on shares of Revolution Medicines from $66.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 6th. National Bankshares set a $80.00 price target on shares of Revolution Medicines in a research report on Friday, October 17th. Stifel Nicolaus started coverage on Revolution Medicines in a research report on Wednesday, October 15th. They issued a “buy” rating and a $85.00 price objective on the stock. Finally, Wolfe Research initiated coverage on Revolution Medicines in a research note on Tuesday, November 18th. They set an “outperform” rating and a $75.00 target price on the stock. Four research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $78.94.

Insider Buying and Selling

In other news, insider Mark A. Goldsmith sold 15,394 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total value of $1,182,567.08. Following 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. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Margaret A. Horn sold 75,000 shares of Revolution Medicines stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $100.56, for a total value of $7,542,000.00. Following the completion of the transaction, the chief operating officer directly owned 141,053 shares of the company’s stock, valued at approximately $14,184,289.68. This represents a 34.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 243,792 shares of company stock worth $19,757,740. 8.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Revolution Medicines

Several institutional investors have recently made changes to their positions in RVMD. Farallon Capital Management LLC grew its position in Revolution Medicines by 2.1% during the third quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company’s stock valued at $683,020,000 after buying an additional 300,000 shares during the period. Baker BROS. Advisors LP boosted its stake in shares of Revolution Medicines by 1.0% during the 3rd quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock worth $441,565,000 after acquiring an additional 90,385 shares during the last quarter. Nextech Invest Ltd. grew its position in shares of Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after acquiring an additional 1,304,347 shares during the period. Paradigm Biocapital Advisors LP grew its position in shares of Revolution Medicines by 2.1% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 6,223,291 shares of the company’s stock valued at $290,628,000 after acquiring an additional 130,000 shares during the period. Finally, Bellevue Group AG increased its stake in shares of Revolution Medicines by 21.7% in the 3rd quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock worth $260,298,000 after purchasing an additional 994,538 shares in the last quarter. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Price Performance

NASDAQ RVMD opened at $120.28 on Friday. The stock has a market capitalization of $23.25 billion, a price-to-earnings ratio of -23.26 and a beta of 0.99. 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 business’s fifty day moving average price is $82.41 and its 200-day moving average price is $56.98.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($1.61) EPS for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.22). During the same quarter in the prior year, the firm posted ($0.94) earnings per share. On average, equities analysts predict that Revolution Medicines will post -3.49 earnings per share for the current year.

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.