Insider Selling: Revolution Medicines (NASDAQ:RVMD) COO Sells $9,674,268.00 in Stock

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

Revolution Medicines Stock Performance

RVMD opened at $162.99 on Friday. The business has a fifty day simple moving average of $147.04 and a 200 day simple moving average of $113.34. The company has a market capitalization of $34.65 billion, a PE ratio of -23.05 and a beta of 1.40. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $166.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80.

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

Hedge Funds Weigh In On Revolution Medicines

A number of hedge funds have recently modified their holdings of RVMD. Nextech Invest Ltd. increased its holdings in Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after purchasing an additional 1,304,347 shares during the period. Millennium Management LLC lifted its holdings in Revolution Medicines by 681.8% during the 1st quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock worth $5,529,000 after buying an additional 136,353 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Revolution Medicines by 14.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company’s stock worth $10,615,000 after buying an additional 37,345 shares during the period. Invesco Ltd. lifted its holdings in Revolution Medicines by 19.3% during the 2nd quarter. Invesco Ltd. now owns 227,019 shares of the company’s stock worth $8,352,000 after buying an additional 36,760 shares during the period. Finally, Jump Financial LLC grew its position in shares of Revolution Medicines by 87.9% in the 2nd quarter. Jump Financial LLC now owns 15,258 shares of the company’s stock valued at $561,000 after buying 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

Several equities research analysts have weighed in on RVMD shares. Oppenheimer upped their target price on Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. UBS Group assumed coverage on Revolution Medicines in a research note on Friday, February 27th. They issued a “buy” rating on the stock. Royal Bank Of Canada boosted 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. Stifel Nicolaus restated a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research note on Tuesday, April 21st. Three research 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 stock. According to data from MarketBeat.com, Revolution Medicines 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.