Margaret Horn Sells 29,600 Shares of Revolution Medicines (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) COO Margaret Horn sold 29,600 shares of the company’s 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 in the company, valued at approximately $24,762,077.64. This trade represents a 16.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Price Performance

RVMD stock opened at $162.99 on Friday. 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 firm has a market capitalization of $34.65 billion, a P/E ratio of -23.05 and a beta of 1.40. The business’s 50-day moving average is $145.72 and its two-hundred day moving average is $112.99. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $166.50.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on RVMD. Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a report on Monday, June 1st. Sanford C. Bernstein began coverage on shares of Revolution Medicines in a report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price objective on the stock. HC Wainwright boosted their target price on shares of Revolution Medicines from $169.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Guggenheim increased their target price on Revolution Medicines to $205.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Truist Financial began coverage on Revolution Medicines in a report on Monday, May 18th. They issued a “buy” rating and a $179.00 target price on the stock. Three investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $123.72.

Hedge Funds Weigh In On Revolution Medicines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nextech Invest Ltd. increased its stake 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 last quarter. Millennium Management LLC lifted its position in shares of 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Revolution Medicines by 14.2% in 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 valued at $10,615,000 after buying an additional 37,345 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Revolution Medicines by 19.3% in the 2nd quarter. Invesco Ltd. now owns 227,019 shares of the company’s stock valued at $8,352,000 after buying an additional 36,760 shares in the last quarter. 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. 94.34% of the stock is owned by institutional investors and hedge funds.

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.