Investors Buy High Volume of Revolution Medicines Put Options (NASDAQ:RVMD)

Revolution Medicines, Inc. (NASDAQ:RVMD) was the target of unusually large options trading on Friday. Traders acquired 25,539 put options on the stock. This is an increase of approximately 313% compared to the average daily volume of 6,183 put options.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RVMD. UBS Group began coverage on Revolution Medicines in a research note on Friday, February 27th. They set a “buy” rating on the stock. Wedbush restated an “outperform” rating on shares of Revolution Medicines in a research note on Friday, January 9th. Jefferies Financial Group began coverage on Revolution Medicines in a research note on Monday, March 16th. They set a “buy” rating on the stock. Evercore upgraded Revolution Medicines to a “strong-buy” rating in a research note on Wednesday, February 25th. Finally, Truist Financial upgraded Revolution Medicines to a “strong-buy” rating in a research note on Wednesday, March 25th. Five analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $78.94.

Insider Buying and Selling at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 30,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $101.22, for a total transaction of $3,036,600.00. Following the completion of the transaction, the insider owned 289,569 shares of the company’s stock, valued at approximately $29,310,174.18. The trade was a 9.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Margaret A. Horn sold 4,583 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $455,916.84. Following the transaction, the chief operating officer directly owned 157,570 shares of the company’s stock, valued at $15,675,063.60. This represents a 2.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 64,592 shares of company stock worth $6,488,732 in the last ninety days. 8.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Indiana Trust & Investment Management Co acquired a new stake in Revolution Medicines during the 4th quarter worth $32,000. Global Retirement Partners LLC raised its stake in Revolution Medicines by 1,002.8% during the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after buying an additional 361 shares during the period. Torren Management LLC acquired a new stake in Revolution Medicines during the 4th quarter worth $33,000. Arax Advisory Partners acquired a new stake in Revolution Medicines during the 4th quarter worth $38,000. Finally, GAMMA Investing LLC raised its stake in shares of Revolution Medicines by 45.1% in the 3rd quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock valued at $39,000 after purchasing an additional 260 shares during the period. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Stock Up 0.2%

Shares of RVMD opened at $96.43 on Friday. The firm has a market capitalization of $19.11 billion, a price-to-earnings ratio of -16.32 and a beta of 1.01. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.14 and a current ratio of 7.14. The business’s fifty day moving average price is $98.12 and its two-hundred day moving average price is $82.35. Revolution Medicines has a 52 week low of $33.25 and a 52 week high of $124.49.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($1.86) EPS for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.30). During the same quarter in the previous year, the company posted ($1.12) earnings per share. On average, analysts predict that Revolution Medicines will post -3.49 earnings per share for the current year.

Revolution Medicines Company Profile

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.