Insider Selling: Revolution Medicines, Inc. (NASDAQ:RVMD) COO Sells 4,329 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) COO Margaret A. Horn sold 4,329 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $196,536.60. Following the transaction, the chief operating officer now directly owns 127,991 shares in the company, valued at approximately $5,810,791.40. This represents a 3.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Revolution Medicines Stock Up 0.7 %

RVMD opened at $43.29 on Friday. The company has a fifty day simple moving average of $51.98 and a 200 day simple moving average of $46.01. The stock has a market cap of $7.28 billion, a P/E ratio of -12.06 and a beta of 1.40. Revolution Medicines, Inc. has a 12 month low of $25.60 and a 12 month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same period in the prior year, the business earned ($0.99) earnings per share. On average, equities research analysts expect that Revolution Medicines, Inc. will post -3.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RVMD. GAMMA Investing LLC raised its holdings in shares of Revolution Medicines by 55.8% during the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock worth $28,000 after acquiring an additional 222 shares during the period. Quarry LP acquired a new stake in shares of Revolution Medicines in the 3rd quarter valued at about $82,000. Values First Advisors Inc. bought a new stake in shares of Revolution Medicines in the third quarter valued at about $93,000. Nisa Investment Advisors LLC boosted its position in shares of Revolution Medicines by 10.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock worth $131,000 after buying an additional 320 shares during the period. Finally, KBC Group NV grew its holdings in shares of Revolution Medicines by 12.9% during the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after buying an additional 368 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RVMD. Oppenheimer upped their price target on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Barclays raised their target price on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. boosted their price target on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. HC Wainwright raised their price objective on shares of Revolution Medicines from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler upped their target price on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $63.67.

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.