Insider Selling: Revolution Medicines (NASDAQ:RVMD) COO Sells 3,575 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) COO Margaret Horn sold 3,575 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $558,129.00. Following the completion of the transaction, the chief operating officer owned 154,647 shares of the company’s stock, valued at $24,143,489.64. This represents a 2.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Price Performance

RVMD traded up $1.19 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. The company has a fifty day moving average of $144.38 and a 200-day moving average of $112.39. The company has a market capitalization of $33.54 billion, a P/E ratio of -22.32 and a beta of 1.40. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines, Inc. has a one year low of $34.00 and a one year high of $166.50.

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

Wall Street Analyst Weigh In

RVMD has been the subject of a number of research analyst reports. Piper Sandler upped their price target on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Royal Bank Of Canada raised their target price on shares of Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Benchmark reiterated an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. HC Wainwright raised their target price on shares of Revolution Medicines from $169.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Finally, Sanford C. Bernstein assumed coverage on shares of Revolution Medicines in a report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $123.72.

Institutional Trading of Revolution Medicines

Several institutional investors have recently made changes to their positions in RVMD. General Atlantic L.P. bought a new position in Revolution Medicines during the third quarter valued at approximately $115,556,000. Norges Bank bought a new position in Revolution Medicines during the fourth quarter valued at approximately $195,568,000. Avoro Capital Advisors LLC bought a new position in Revolution Medicines during the fourth quarter valued at approximately $172,840,000. UBS Group AG raised its position in Revolution Medicines by 183.6% during the fourth quarter. UBS Group AG now owns 3,087,937 shares of the company’s stock valued at $245,954,000 after acquiring an additional 1,998,972 shares in the last quarter. Finally, Polar Capital Holdings Plc raised its position in Revolution Medicines by 321.2% during the fourth quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company’s stock valued at $160,398,000 after acquiring an additional 1,535,686 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

About Revolution Medicines

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.