Stock Traders Purchase Large 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 traders bought 22,906 put options on the stock. This is an increase of 450% compared to the typical volume of 4,168 put options.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. HC Wainwright raised their price objective on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Stifel Nicolaus started coverage on Revolution Medicines in a research note on Wednesday, October 15th. They issued a “buy” rating and a $85.00 price target for the company. Mizuho initiated coverage on Revolution Medicines in a research note on Tuesday, October 21st. They set an “outperform” rating and a $90.00 price target on the stock. UBS Group upgraded shares of Revolution Medicines to a “strong-buy” rating in a report on Thursday, December 4th. Finally, National Bankshares set a $80.00 target price on shares of Revolution Medicines in a research note on Friday, October 17th. Four analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $78.94.

Insider Buying and Selling

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 5,447 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were 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 in the company, valued at approximately $21,402,052. The trade was a 1.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jack Anders sold 10,000 shares of the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $98.00, for a total transaction of $980,000.00. Following the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 213,792 shares of company stock worth $17,948,440 over the last ninety days. 8.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Revolution Medicines

Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of Revolution Medicines by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 3,161,963 shares of the company’s stock valued at $251,912,000 after buying an additional 16,323 shares during the last quarter. AlphaQuest LLC boosted its stake in shares of Revolution Medicines by 73.5% in the fourth quarter. AlphaQuest LLC now owns 20,664 shares of the company’s stock worth $1,646,000 after buying an additional 8,751 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Revolution Medicines by 3,199.9% during the fourth quarter. Fisher Asset Management LLC now owns 241,057 shares of the company’s stock worth $19,200,000 after acquiring an additional 233,752 shares during the period. Clearstead Advisors LLC raised its position in Revolution Medicines by 2,730.0% during the fourth quarter. Clearstead Advisors LLC now owns 2,830 shares of the company’s stock valued at $225,000 after acquiring an additional 2,730 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd lifted its holdings in Revolution Medicines by 6.4% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 223,569 shares of the company’s stock valued at $17,807,000 after acquiring an additional 13,400 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $96.74 on Tuesday. Revolution Medicines has a 52 week low of $29.17 and a 52 week high of $124.49. The business’s 50 day moving average price is $92.93 and its 200 day moving average price is $64.55. The company has a quick ratio of 8.05, a current ratio of 8.05 and a debt-to-equity ratio of 0.16. The firm has a market cap of $18.70 billion, a P/E ratio of -18.71 and a beta of 1.00.

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.