Insider Selling: Revolution Medicines (NASDAQ:RVMD) COO Sells 60,400 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) COO Margaret Horn sold 60,400 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $160.17, for a total value of $9,674,268.00. Following the completion of the sale, the chief operating officer owned 158,222 shares in the company, valued at $25,342,417.74. The trade was a 27.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Stock Performance

Shares of RVMD traded up $1.19 during mid-day trading on Wednesday, reaching $157.77. The company had a trading volume of 2,227,327 shares, compared to its average volume of 2,761,698. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $166.50. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $33.54 billion, a P/E ratio of -22.32 and a beta of 1.40. The stock has a 50 day moving average of $144.38 and a two-hundred day moving average of $112.39.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period in the previous year, the firm posted ($1.13) earnings per share. On average, analysts expect that Revolution Medicines, Inc. will post -7.94 earnings per share for the current year.

Hedge Funds Weigh In On Revolution Medicines

A number of hedge funds have recently made changes to their positions in RVMD. Nextech Invest Ltd. raised its holdings in shares of Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after acquiring an additional 1,304,347 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Revolution Medicines by 681.8% during the first quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock valued at $5,529,000 after acquiring an additional 136,353 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Revolution Medicines by 14.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company’s stock valued at $10,615,000 after acquiring an additional 37,345 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Revolution Medicines by 19.3% during the second quarter. Invesco Ltd. now owns 227,019 shares of the company’s stock valued at $8,352,000 after acquiring an additional 36,760 shares during the last quarter. Finally, Jump Financial LLC raised its holdings in shares of Revolution Medicines by 87.9% during the second quarter. Jump Financial LLC now owns 15,258 shares of the company’s stock valued at $561,000 after acquiring an additional 7,137 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on RVMD shares. Piper Sandler upped their price target on Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Sanford C. Bernstein started coverage on Revolution Medicines in a report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price target for the company. Royal Bank Of Canada upped their price target on Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Wedbush reaffirmed an “outperform” rating on shares of Revolution Medicines in a report on Monday, June 1st. Finally, Guggenheim upped their price target on Revolution Medicines to $205.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $123.72.

Revolution Medicines Company Profile

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.