Insider Selling: Revolution Medicines, Inc. (NASDAQ:RVMD) COO Sells 3,058 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) COO Margaret A. Horn sold 3,058 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $119,384.32. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Revolution Medicines Stock Performance

Shares of NASDAQ:RVMD traded up $0.59 during midday trading on Wednesday, reaching $38.75. The company’s stock had a trading volume of 1,288,279 shares, compared to its average volume of 1,347,713. The firm has a 50 day moving average price of $40.86 and a two-hundred day moving average price of $45.83. Revolution Medicines, Inc. has a fifty-two week low of $29.55 and a fifty-two week high of $62.40. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of -10.79 and a beta of 1.46.

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 analysts’ consensus estimates of ($1.01) by ($0.11). As a group, research analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RVMD shares. Needham & Company LLC decreased their target price on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Wedbush reiterated an “outperform” rating and set a $67.00 price objective on shares of Revolution Medicines in a research report on Thursday, February 27th. Stifel Nicolaus cut their target price on shares of Revolution Medicines from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Guggenheim upped their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, UBS Group raised their price objective on Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Revolution Medicines has an average rating of “Buy” and a consensus price target of $66.31.

Institutional Trading of Revolution Medicines

Several hedge funds have recently bought and sold shares of the business. KBC Group NV grew its holdings in shares of Revolution Medicines by 12.9% in the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock valued at $146,000 after acquiring an additional 368 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of Revolution Medicines during the 3rd quarter worth $216,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Revolution Medicines in the 3rd quarter valued at about $1,220,000. Intech Investment Management LLC purchased a new stake in Revolution Medicines during the third quarter valued at about $1,709,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Revolution Medicines by 58.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company’s stock worth $79,957,000 after purchasing an additional 653,433 shares during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.

About Revolution Medicines

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.