Revolution Medicines (NASDAQ:RVMD) COO Sells $4,739,552.00 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) COO Margaret Horn sold 29,600 shares of the firm’s stock in a transaction on 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 transaction, the chief operating officer directly owned 154,647 shares of the company’s stock, valued at approximately $24,762,077.64. This represents a 16.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revolution Medicines Stock Performance

NASDAQ:RVMD opened at $162.99 on Friday. The firm has a market cap of $34.65 billion, a P/E ratio of -23.05 and a beta of 1.40. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The firm’s fifty day moving average is $147.04 and its 200-day moving average is $113.34. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $166.50.

Revolution Medicines (NASDAQ:RVMD) last released its 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 period last year, the business earned ($1.13) earnings per share. Equities analysts expect that Revolution Medicines, Inc. will post -7.94 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Meeder Advisory Services Inc. grew its position in Revolution Medicines by 3.0% during the first quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock valued at $401,000 after buying an additional 120 shares during the period. PNC Financial Services Group Inc. raised its position in Revolution Medicines by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock worth $802,000 after acquiring an additional 125 shares during the period. Deutsche Bank AG raised its position in Revolution Medicines by 0.4% in the fourth quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock worth $2,566,000 after acquiring an additional 130 shares during the period. Signaturefd LLC boosted its stake in Revolution Medicines by 33.1% in the fourth quarter. Signaturefd LLC now owns 656 shares of the company’s stock valued at $52,000 after acquiring an additional 163 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in Revolution Medicines by 57.2% in the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after acquiring an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RVMD. Stifel Nicolaus reaffirmed a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. UBS Group assumed coverage on shares of Revolution Medicines in a research note on Friday, February 27th. They set a “buy” rating for the company. Piper Sandler upped their price objective on shares of Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Finally, Royal Bank Of Canada lifted their price objective on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Three investment 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 assigned a Sell rating to the company. According to data from MarketBeat, Revolution Medicines has an average rating of “Buy” and an average target price 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.