Insider Selling: Revolution Medicines, Inc. (NASDAQ:RVMD) COO Sells $119,384.32 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) COO Margaret A. Horn sold 3,058 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following the completion of the transaction, the chief operating officer now directly owns 153,533 shares in the company, valued at approximately $5,993,928.32. This represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Revolution Medicines Stock Down 1.0 %

Shares of Revolution Medicines stock opened at $38.11 on Friday. Revolution Medicines, Inc. has a 12-month low of $29.55 and a 12-month high of $62.40. The company has a market capitalization of $7.09 billion, a price-to-earnings ratio of -10.62 and a beta of 1.46. The firm’s 50-day moving average price is $40.55 and its two-hundred day moving average price is $45.70.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.11). On average, sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Institutional Investors Weigh In On Revolution Medicines

Large investors have recently modified their holdings of the business. IFP Advisors Inc acquired a new position in shares of Revolution Medicines during the 4th quarter worth $34,000. Quarry LP bought a new position in Revolution Medicines in the third quarter valued at about $82,000. Sterling Capital Management LLC grew its position in Revolution Medicines by 588.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock valued at $86,000 after acquiring an additional 1,672 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Revolution Medicines by 368.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock worth $90,000 after acquiring an additional 1,613 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Revolution Medicines in the fourth quarter worth about $104,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Wall Street Analysts Forecast Growth

RVMD has been the topic of several research reports. Guggenheim upped their target price on Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Wedbush reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Revolution Medicines in a report on Thursday, February 27th. Needham & Company LLC dropped their target price on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. boosted their target price on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Finally, UBS Group raised their price target on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Twelve research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $66.31.

Revolution Medicines Company Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company’s research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.