Revolution Medicines, Inc. (NASDAQ:RVMD) COO Sells $196,536.60 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) COO Margaret A. Horn sold 4,329 shares of Revolution Medicines stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $45.40, for a total transaction of $196,536.60. Following the completion of the transaction, the chief operating officer now directly owns 127,991 shares in the company, valued at $5,810,791.40. This represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD opened at $42.97 on Thursday. The business has a 50 day simple moving average of $52.10 and a 200 day simple moving average of $46.03. Revolution Medicines, Inc. has a 52 week low of $25.60 and a 52 week high of $62.40. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of -11.97 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same period in the prior year, the business posted ($0.99) EPS. On average, analysts predict that Revolution Medicines, Inc. will post -3.5 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RVMD shares. Wedbush restated an “outperform” rating and issued a $70.00 price target on shares of Revolution Medicines in a research report on Monday, December 2nd. Oppenheimer upped their target price on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Piper Sandler lifted their price target on Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Finally, HC Wainwright raised their target price on shares of Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $63.67.

Institutional Trading of Revolution Medicines

Several large investors have recently made changes to their positions in RVMD. Farallon Capital Management LLC lifted its holdings in Revolution Medicines by 30.0% in the 2nd quarter. Farallon Capital Management LLC now owns 9,757,692 shares of the company’s stock worth $378,696,000 after purchasing an additional 2,249,820 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Revolution Medicines in the third quarter worth $83,082,000. Janus Henderson Group PLC boosted its holdings in shares of Revolution Medicines by 32.3% during the 3rd quarter. Janus Henderson Group PLC now owns 6,137,244 shares of the company’s stock worth $278,280,000 after buying an additional 1,497,026 shares during the period. Logos Global Management LP acquired a new position in Revolution Medicines in the 2nd quarter valued at $46,572,000. Finally, Hood River Capital Management LLC bought a new position in Revolution Medicines in the 2nd quarter worth $35,472,000. Institutional investors 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.