Revolution Medicines, Inc. (NASDAQ:RVMD) COO Sells $2,517,000.00 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) COO Margaret A. Horn sold 50,000 shares of Revolution Medicines stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $50.34, for a total transaction of $2,517,000.00. Following the transaction, the chief operating officer now owns 132,320 shares of the company’s stock, valued at $6,660,988.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Revolution Medicines Stock Performance

NASDAQ:RVMD traded down $0.23 during trading hours on Tuesday, reaching $48.99. The stock had a trading volume of 881,280 shares, compared to its average volume of 1,313,758. The stock has a 50 day simple moving average of $44.23 and a 200 day simple moving average of $40.91. Revolution Medicines, Inc. has a 12-month low of $15.44 and a 12-month high of $51.00. The stock has a market cap of $8.18 billion, a P/E ratio of -13.46 and a beta of 1.43.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.81 million. The business’s quarterly revenue was down 73.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.92) EPS. On average, equities analysts expect that Revolution Medicines, Inc. will post -3.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Revolution Medicines

Several hedge funds have recently added to or reduced their stakes in RVMD. GAMMA Investing LLC increased its holdings in shares of Revolution Medicines by 55.8% in the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock worth $28,000 after buying an additional 222 shares during the period. Headlands Technologies LLC increased its holdings in Revolution Medicines by 140.9% during the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock valued at $49,000 after purchasing an additional 885 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Revolution Medicines during the 1st quarter valued at about $104,000. EntryPoint Capital LLC purchased a new position in Revolution Medicines during the 1st quarter valued at about $107,000. Finally, Nisa Investment Advisors LLC increased its holdings in Revolution Medicines by 10.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after purchasing an additional 320 shares during the period. Institutional investors own 94.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RVMD. JPMorgan Chase & Co. reduced their price objective on shares of Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and set a $56.00 price objective on shares of Revolution Medicines in a report on Monday, August 12th. Bank of America boosted their price target on shares of Revolution Medicines from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Needham & Company LLC reiterated a “buy” rating and issued a $61.00 price objective on shares of Revolution Medicines in a research note on Monday, October 7th. Finally, Wedbush restated an “outperform” rating and issued a $59.00 target price on shares of Revolution Medicines in a research note on Thursday, August 8th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $54.00.

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.