Revolution Medicines exec Kelsey sells $5.5m in shares

Stephen Michael Kelsey, President, Research and Development at Revolution Medicines, Inc. (NASDAQ:RVMD), sold a total of 124,990 shares of common stock in multiple transactions on September 11 and September 15. The sales, conducted at prices ranging from $43.5771 to $46.9302, amounted to approximately $5.5 million. The transactions come as the stock shows strong momentum, with InvestingPro data indicating a 12.85% return over the past week, though technical indicators suggest the stock may be overbought.

On September 11, Kelsey sold 44,059 shares at an average price of $43.5771, with prices ranging from $43.12 to $44.09, and 55,941 shares at an average price of $44.4847, with prices ranging from $44.12 to $44.99. On September 15, he sold 23,682 shares at an average price of $45.9175, with prices ranging from $45.4650 to $46.46, and 1,318 shares at an average price of $46.9302, with prices ranging from $46.5450 to $47.21.

In addition to the sales, Kelsey exercised options to acquire 125,000 shares of Revolution Medicines common stock at a price of $4.73, for a total value of $591250. These transactions were executed on September 11 and September 15.

Following these transactions, Kelsey directly owns 289,414 shares of Revolution Medicines, Inc., including 94,426 restricted stock units. For detailed analysis of RVMD’s valuation and 10+ additional exclusive insights, visit InvestingPro.

In other recent news, Revolution Medicines announced promising clinical data for its experimental cancer drug, daraxonrasib, in treating metastatic pancreatic ductal adenocarcinoma. Long-term follow-up data revealed a 29% confirmed objective response rate and disease control achieved in 95% of patients, with a median progression-free survival of 8.1 months and overall survival reaching 15.6 months. Needham raised its price target for Revolution to $66.00, maintaining a Buy rating, following updates on the RASolute 303 Phase 3 trial of daraxonrasib planned for the fourth quarter of 2025. Raymond James assumed coverage with a Strong Buy rating and a price target of $72.00, citing the broad activity of Revolution’s RAS inhibitor. Truist Securities also initiated coverage with a Buy rating and a price target of $99.00, highlighting the company’s focus on RAS mutations. Oppenheimer reiterated its Outperform rating with a $75.00 price target after discussions with company management. These developments reflect the ongoing interest and confidence in Revolution’s advancements in oncology.

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