Margaret A. Horn Sells 3,058 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) COO Margaret A. Horn sold 3,058 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $119,384.32. Following the transaction, the chief operating officer now directly owns 153,533 shares of the company’s stock, valued at $5,993,928.32. This represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Revolution Medicines Price Performance

Shares of Revolution Medicines stock opened at $38.49 on Friday. Revolution Medicines, Inc. has a 1 year low of $29.55 and a 1 year high of $62.40. The business has a 50 day moving average price of $40.63 and a 200 day moving average price of $45.73. The company has a market capitalization of $7.16 billion, a P/E ratio of -10.72 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). As a group, research analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus cut their target price on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. increased their price objective on Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. UBS Group boosted their target price on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. HC Wainwright raised their price objective on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Finally, Needham & Company LLC lowered their target price on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Twelve research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $66.31.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc acquired a new position in shares of Revolution Medicines in the fourth quarter valued at approximately $34,000. Quarry LP acquired a new position in Revolution Medicines in the 3rd quarter valued at $82,000. Sterling Capital Management LLC raised its holdings in Revolution Medicines by 588.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock valued at $86,000 after acquiring an additional 1,672 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Revolution Medicines by 368.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock worth $90,000 after purchasing an additional 1,613 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Revolution Medicines during the fourth quarter worth $104,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

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.