Margaret Horn Sells 3,575 Shares of Revolution Medicines (NASDAQ:RVMD) Stock

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

Revolution Medicines Stock Up 3.3%

Shares of NASDAQ RVMD opened at $162.99 on Friday. The firm has a market capitalization of $34.65 billion, a PE ratio of -23.05 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 1 year low of $34.00 and a 1 year high of $166.50. The firm’s 50-day moving average is $145.72 and its 200-day moving average is $112.99.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RVMD. Global Retirement Partners LLC lifted its holdings in Revolution Medicines by 1,002.8% during the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after purchasing an additional 361 shares during the last quarter. Indiana Trust & Investment Management Co bought a new position in shares of Revolution Medicines in the fourth quarter valued at about $32,000. Torren Management LLC acquired a new stake in shares of Revolution Medicines during the 4th quarter worth about $33,000. Arax Advisory Partners bought a new stake in shares of Revolution Medicines during the 4th quarter worth about $38,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Revolution Medicines during the 4th quarter worth about $40,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RVMD shares. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. HC Wainwright raised their target price on Revolution Medicines from $169.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Piper Sandler upped their price target on Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. UBS Group began coverage on shares of Revolution Medicines in a research report on Friday, February 27th. They set a “buy” rating on the stock. Finally, Oppenheimer lifted their price objective on Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $123.72.

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.