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 firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total transaction of $4,739,552.00. Following the completion of the transaction, the chief operating officer directly owned 154,647 shares in the company, valued at approximately $24,762,077.64. The trade was a 16.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Stock Up 0.8%

NASDAQ RVMD traded up $1.19 during trading hours on Wednesday, hitting $157.77. The company’s stock had a trading volume of 2,227,327 shares, compared to its average volume of 2,761,698. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $166.50. The company has a market capitalization of $33.54 billion, a PE ratio of -22.32 and a beta of 1.40. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19. The company’s 50-day simple moving average is $144.38 and its two-hundred day simple moving average is $112.39.

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

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank Of Canada lifted their target price on shares of Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Piper Sandler lifted their target price on shares of Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Sanford C. Bernstein assumed coverage on shares of Revolution Medicines in a research report on Thursday, May 21st. They set a “market perform” rating and a $151.00 target price on the stock. Jefferies Financial Group assumed coverage on shares of Revolution Medicines in a research report on Monday, March 16th. They set a “buy” rating on the stock. Finally, Guggenheim lifted their target price on shares of Revolution Medicines to $205.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Revolution Medicines has an average rating of “Buy” and a consensus target price of $123.72.

Institutional Investors Weigh In On Revolution Medicines

Hedge funds have recently modified their holdings of the stock. Indiana Trust & Investment Management Co bought a new stake in shares of Revolution Medicines in the 4th quarter worth approximately $32,000. Global Retirement Partners LLC raised its holdings in shares of Revolution Medicines by 1,002.8% in the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after purchasing an additional 361 shares during the period. Torren Management LLC bought a new stake in shares of Revolution Medicines in the 4th quarter worth approximately $33,000. Arax Advisory Partners bought a new stake in shares of Revolution Medicines in the 4th quarter worth approximately $38,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Revolution Medicines in the 4th quarter worth approximately $40,000. Institutional investors own 94.34% of the company’s stock.

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.