Insider Selling: Revolution Medicines, Inc. (NASDAQ:RVMD) COO Sells $196,536.60 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) COO Margaret A. Horn sold 4,329 shares of Revolution Medicines stock in a transaction on 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 sale, the chief operating officer now directly owns 127,991 shares of the company’s stock, valued at approximately $5,810,791.40. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Revolution Medicines Trading Up 1.8 %

Shares of NASDAQ RVMD opened at $44.06 on Friday. Revolution Medicines, Inc. has a 12-month low of $25.91 and a 12-month high of $62.40. The firm has a market capitalization of $7.41 billion, a price-to-earnings ratio of -12.27 and a beta of 1.40. The firm has a 50 day moving average of $51.85 and a 200 day moving average of $46.04.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same quarter in the previous year, the company earned ($0.99) EPS. Sell-side analysts predict that Revolution Medicines, Inc. will post -3.5 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on RVMD. Guggenheim increased their price objective on Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Wedbush reaffirmed an “outperform” rating and set a $70.00 price target on shares of Revolution Medicines in a report on Monday, December 2nd. HC Wainwright boosted their price objective on shares of Revolution Medicines from $64.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. 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 research report on Tuesday, December 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $68.00 target price on shares of Revolution Medicines in a research report on Tuesday, December 3rd. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, 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 have recently bought and sold shares of RVMD. Wilmington Savings Fund Society FSB purchased a new position in shares of Revolution Medicines during the 3rd quarter valued at about $801,000. Citigroup Inc. raised its stake in Revolution Medicines by 29.5% during the 3rd quarter. Citigroup Inc. now owns 117,938 shares of the company’s stock worth $5,348,000 after acquiring an additional 26,871 shares during the period. State Street Corp lifted its holdings in Revolution Medicines by 4.1% during the third quarter. State Street Corp now owns 5,279,584 shares of the company’s stock valued at $239,429,000 after purchasing an additional 208,516 shares in the last quarter. Barclays PLC boosted 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. boosted its position in shares of 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 worth $79,957,000 after purchasing an additional 653,433 shares during the period. 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.