Revolution Medicines (NASDAQ:RVMD) COO Sells $989,625.08 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) COO Margaret Horn sold 4,967 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $199.24, for a total transaction of $989,625.08. Following the sale, the chief operating officer directly owned 149,680 shares of the company’s stock, valued at approximately $29,822,243.20. The trade was a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Stock Down 3.0%

NASDAQ:RVMD traded down $5.99 on Friday, reaching $190.95. The stock had a trading volume of 5,937,950 shares, compared to its average volume of 2,930,039. The company has a 50-day moving average of $199.49 and a 200 day moving average of $159.35. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40. The stock has a market cap of $40.93 billion, a P/E ratio of -21.65 and a beta of 1.40. Revolution Medicines, Inc. has a 12-month low of $42.18 and a 12-month high of $224.31.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period last year, the business posted ($1.31) earnings per share. On average, research analysts predict that Revolution Medicines, Inc. will post -8.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RVMD shares. TD Cowen raised shares of Revolution Medicines to a “strong-buy” rating in a report on Monday, August 24th. HC Wainwright upped their target price on shares of Revolution Medicines from $195.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Stifel Nicolaus increased their price target on shares of Revolution Medicines from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. Sanford C. Bernstein boosted their price objective on Revolution Medicines from $151.00 to $179.00 and gave the company a “market perform” rating in a report on Friday, August 21st. Finally, Raymond James Financial restated a “strong-buy” rating and set a $248.00 price objective on shares of Revolution Medicines in a research note on Thursday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $226.17.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC raised its stake in Revolution Medicines by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock worth $980,036,000 after acquiring an additional 947,448 shares during the period. Geode Capital Management LLC boosted its stake in Revolution Medicines by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,161,963 shares of the company’s stock valued at $251,912,000 after acquiring an additional 16,323 shares during the period. Alphabet Inc. acquired a new position in Revolution Medicines in the second quarter valued at approximately $551,843,000. Westfield Capital Management Co. LP grew its holdings in shares of Revolution Medicines by 13.2% during the fourth quarter. Westfield Capital Management Co. LP now owns 2,845,013 shares of the company’s stock valued at $226,605,000 after purchasing an additional 331,046 shares during the last quarter. Finally, General Atlantic L.P. raised its position in shares of Revolution Medicines by 13.7% during the 4th quarter. General Atlantic L.P. now owns 2,812,928 shares of the company’s stock worth $224,050,000 after purchasing an additional 338,500 shares during the period. 94.34% of the stock is owned by institutional investors and hedge funds.

About Revolution Medicines

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.

Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.