Insider Selling: Revolution Medicines, Inc. (NASDAQ:RVMD) COO Sells $119,384.32 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) COO Margaret A. Horn sold 3,058 shares of the 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 transaction, the chief operating officer now owns 153,533 shares of the company’s stock, valued at $5,993,928.32. The trade was a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Revolution Medicines Trading Down 1.0 %

Shares of Revolution Medicines stock opened at $38.11 on Friday. The business has a 50-day moving average price of $40.55 and a two-hundred day moving average price of $45.70. Revolution Medicines, Inc. has a 1-year low of $29.55 and a 1-year high of $62.40. The company has a market cap of $7.09 billion, a P/E ratio of -10.62 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.11). Equities research analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on RVMD. Needham & Company LLC dropped their target price on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Wedbush reiterated an “outperform” rating and issued a $67.00 price objective on shares of Revolution Medicines in a report on Thursday, February 27th. JPMorgan Chase & Co. boosted their target price on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Stifel Nicolaus dropped their price target on shares of Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Guggenheim lifted 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. Twelve equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $66.31.

Institutional Trading of Revolution Medicines

Large investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new position in Revolution Medicines during the third quarter worth $801,000. Citigroup Inc. grew its stake in shares of Revolution Medicines by 29.5% in the 3rd quarter. Citigroup Inc. now owns 117,938 shares of the company’s stock valued at $5,348,000 after buying an additional 26,871 shares during the period. State Street Corp grew its stake in shares of Revolution Medicines by 4.1% in the 3rd quarter. State Street Corp now owns 5,279,584 shares of the company’s stock valued at $239,429,000 after buying an additional 208,516 shares during the period. Barclays PLC increased its position in Revolution Medicines by 187.1% in the 3rd quarter. Barclays PLC now owns 294,664 shares of the company’s stock valued at $13,362,000 after buying an additional 192,021 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Revolution Medicines by 58.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company’s stock worth $79,957,000 after buying 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.