REDWOOD CITY, Calif.—Revolution Medicines, Inc. (NASDAQ:RVMD) recently disclosed that its General Counsel, Jeff Cislini, executed a series of stock transactions on October 11, 2024. According to the SEC filing, Cislini sold 6,000 shares of common stock, generating approximately $301,026. The sale price per share ranged from $50.00 to $50.45, with a weighted average sale price of $50.1711.
In a related transaction, Cislini exercised stock options to acquire 6,000 shares at a price of $36.57 per share, totaling $219,420 in value. These transactions were conducted under a 10b5-1 trading plan, which Cislini adopted earlier this year on March 20, 2024.
Following these transactions, Cislini holds 45,634 shares of Revolution Medicines, including 40,209 restricted stock units.
In other recent news, Revolution Medicines reported an earnings per share (EPS) loss of $0.81, aligning closely with the consensus estimate of a $0.77 loss. The company anticipates a net loss between $560 million and $600 million for the full year 2024, an increase from previous estimates due to the acceleration of the Phase 2 trial for pancreatic ductal adenocarcinoma (PDAC), commercial supply scaling, and the exploration of earlier lines of treatment for PDAC. Several firms, including Piper Sandler, Needham, and TD Cowen, maintained positive ratings on Revolution, adjusting their price targets based on the promising results of Revolution's drug candidate, RMC-6236, in treating PDAC with G12X mutations. The upcoming Phase I data for RMC-6236 is anticipated to provide an initial view on the progression-free survival of patients treated in the second line setting for non-small cell lung cancer (NSCLC). Revolution's progress in developing treatments for NSCLC continues to be a point of interest for investors and analysts alike. Needham also noted that positive results from the combination of RMC-6236 with other treatments could prompt an approximate 20% increase to their price target. These are among the recent developments in Revolution Medicine's ongoing pursuit of effective treatments for challenging cancer types.
InvestingPro Insights
Revolution Medicines, Inc. (NASDAQ:RVMD) has been experiencing significant market momentum, as evidenced by its recent stock performance and insider transactions. According to InvestingPro data, the company's stock has shown a strong return over the last month, with a 12.63% price increase. This aligns with the timing of General Counsel Jeff Cislini's recent stock transactions.
The company's market capitalization stands at $8.19 billion, reflecting investor confidence in its potential. However, it's important to note that Revolution Medicines is not currently profitable, with a negative P/E ratio of -16.46 for the last twelve months as of Q2 2024. This is consistent with an InvestingPro Tip indicating that analysts do not anticipate the company will be profitable this year.
Despite the lack of profitability, RVMD's stock is trading near its 52-week high, with the current price at 96.06% of its peak. This suggests strong market optimism about the company's prospects. Another InvestingPro Tip highlights that Revolution Medicines holds more cash than debt on its balance sheet, which could provide financial flexibility as it pursues growth opportunities.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for RVMD, providing deeper insights into the company's financial health and market position.
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