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 the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $160.17, for a total value of $9,674,268.00. Following the completion of the sale, the chief operating officer directly owned 158,222 shares of the company’s stock, valued at approximately $25,342,417.74. This represents a 27.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Price Performance

Shares of NASDAQ:RVMD traded up $1.19 during midday trading on Wednesday, hitting $157.77. The company had a trading volume of 2,227,327 shares, compared to its average volume of 2,761,698. Revolution Medicines, Inc. has a twelve month low of $34.00 and a twelve month 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. The stock has a market cap of $33.54 billion, a price-to-earnings ratio of -22.32 and a beta of 1.40. The business’s 50-day simple moving average is $144.38 and its 200-day simple moving average is $112.39.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Revolution Medicines by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after buying an additional 1,056,792 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Revolution Medicines by 194.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock worth $1,696,000 after buying an additional 14,062 shares during the period. Raiffeisen Bank International AG purchased a new position in shares of Revolution Medicines during the third quarter worth $921,000. Mass General Brigham Inc purchased a new position in shares of Revolution Medicines during the fourth quarter worth $27,407,000. Finally, M&T Bank Corp purchased a new position in shares of Revolution Medicines during the fourth quarter worth $52,723,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RVMD has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a report on Tuesday, April 21st. Sanford C. Bernstein assumed coverage on Revolution Medicines in a research report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price objective for the company. Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a research report on Monday, June 1st. Stifel Nicolaus reiterated a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Finally, Royal Bank Of Canada increased their price objective on Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average 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.