Insider Selling: Revolution Medicines (NASDAQ:RVMD) COO Sells 29,600 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) COO Margaret Horn sold 29,600 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total value of $4,739,552.00. Following the sale, the chief operating officer owned 154,647 shares of the company’s stock, valued at approximately $24,762,077.64. The trade was a 16.07% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Trading Up 0.8%

Revolution Medicines stock traded up $1.19 during trading hours on Wednesday, reaching $157.77. 2,227,327 shares of the company’s stock were exchanged, compared to its average volume of 2,761,698. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. The firm’s 50 day simple moving average is $144.38 and its 200 day simple moving average is $112.39. Revolution Medicines, Inc. has a twelve month low of $34.00 and a twelve month high of $166.50. The firm has a market capitalization of $33.54 billion, a PE ratio of -22.32 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last issued 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 in the previous year, the business posted ($1.13) earnings per share. Research analysts predict that Revolution Medicines, Inc. will post -7.94 earnings per share for the current year.

Institutional Trading of Revolution Medicines

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Revolution Medicines by 6.7% in the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock valued at $1,331,739,000 after buying an additional 1,056,792 shares during the period. Farallon Capital Management LLC lifted its position in Revolution Medicines by 2.1% in the 3rd quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company’s stock valued at $683,020,000 after acquiring an additional 300,000 shares in the last quarter. Janus Henderson Group PLC lifted its position in Revolution Medicines by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock valued at $980,036,000 after acquiring an additional 947,448 shares in the last quarter. Baker BROS. Advisors LP lifted its position in Revolution Medicines by 1.0% in the 3rd quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock valued at $441,565,000 after acquiring an additional 90,385 shares in the last quarter. Finally, Nextech Invest Ltd. lifted its position in Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after acquiring an additional 1,304,347 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RVMD shares. HC Wainwright increased their price target on Revolution Medicines from $169.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Benchmark reiterated an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Stifel Nicolaus restated a “buy” rating on shares of Revolution Medicines in a research note on Monday, April 20th. UBS Group initiated coverage on Revolution Medicines in a research note on Friday, February 27th. They issued a “buy” rating for the company. Finally, Jefferies Financial Group initiated coverage on Revolution Medicines in a research note on Monday, March 16th. They issued a “buy” rating for the company. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target 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.