Insider Selling: Revolution Medicines, Inc. (NASDAQ:RVMD) COO Sells 4,329 Shares of Stock

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

Revolution Medicines Stock Up 1.8 %

Revolution Medicines stock opened at $44.06 on Friday. The company’s 50-day moving average price is $51.85 and its 200-day moving average price is $46.04. The company has a market cap of $7.41 billion, a PE ratio of -12.27 and a beta of 1.40. Revolution Medicines, Inc. has a twelve month low of $25.91 and a twelve month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same period in the prior year, the company earned ($0.99) earnings per share. As a group, sell-side analysts expect that Revolution Medicines, Inc. will post -3.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Guggenheim boosted their price target on Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Piper Sandler upped their target price on shares of Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Wedbush reaffirmed an “outperform” rating and set a $70.00 target price on shares of Revolution Medicines in a research note on Monday, December 2nd. HC Wainwright boosted their price target on shares of Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $65.82.

Institutional Trading of Revolution Medicines

Several hedge funds and other institutional investors have recently bought and sold shares of RVMD. Wilmington Savings Fund Society FSB purchased a new position in Revolution Medicines during the third quarter worth $801,000. Citigroup Inc. raised its stake in shares of Revolution Medicines by 29.5% in the third quarter. Citigroup Inc. now owns 117,938 shares of the company’s stock valued at $5,348,000 after acquiring an additional 26,871 shares during the period. State Street Corp lifted its holdings in shares of Revolution Medicines by 4.1% in the 3rd quarter. State Street Corp now owns 5,279,584 shares of the company’s stock worth $239,429,000 after acquiring an additional 208,516 shares during the last quarter. Barclays PLC boosted its stake in shares of Revolution Medicines by 187.1% during the 3rd quarter. Barclays PLC now owns 294,664 shares of the company’s stock worth $13,362,000 after purchasing an additional 192,021 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Revolution Medicines by 58.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company’s stock valued at $79,957,000 after purchasing an additional 653,433 shares during the last quarter. Hedge funds and other 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.