Insider Selling: Revolution Medicines, Inc. (NASDAQ:RVMD) COO Sells 3,058 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) COO Margaret A. Horn sold 3,058 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following the sale, the chief operating officer now directly owns 153,533 shares in the company, valued at $5,993,928.32. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Revolution Medicines Price Performance

NASDAQ:RVMD traded up $0.59 during trading hours on Wednesday, reaching $38.75. 1,288,279 shares of the stock were exchanged, compared to its average volume of 1,347,713. The stock has a market cap of $7.20 billion, a PE ratio of -10.79 and a beta of 1.46. Revolution Medicines, Inc. has a twelve month low of $29.55 and a twelve month high of $62.40. The firm has a 50 day moving average of $40.86 and a 200 day moving average of $45.83.

Revolution Medicines (NASDAQ:RVMD) last released its 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). Equities research analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RVMD. Wilmington Savings Fund Society FSB acquired a new position in shares of Revolution Medicines during the 3rd quarter worth approximately $801,000. Citigroup Inc. lifted its position in shares of Revolution Medicines by 29.5% during the 3rd 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 grew its holdings in shares of Revolution Medicines by 4.1% during the 3rd quarter. State Street Corp now owns 5,279,584 shares of the company’s stock worth $239,429,000 after purchasing an additional 208,516 shares in the last quarter. Barclays PLC increased its position in shares of Revolution Medicines by 187.1% in the third 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. raised its stake in Revolution Medicines by 58.9% in the third 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 in the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RVMD shares. UBS Group lifted their target price on Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. HC Wainwright lifted their price objective on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Needham & Company LLC cut 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. Stifel Nicolaus lowered their price target on shares of Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, Guggenheim increased their price objective on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $66.31.

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.