Margaret A. Horn Sells 50,000 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) COO Margaret A. Horn sold 50,000 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.34, for a total value of $2,517,000.00. Following the sale, the chief operating officer now directly owns 132,320 shares of the company’s stock, valued at $6,660,988.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Revolution Medicines Price Performance

RVMD opened at $50.42 on Thursday. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of -13.85 and a beta of 1.43. Revolution Medicines, Inc. has a 1 year low of $15.44 and a 1 year high of $51.00. The stock’s 50 day simple moving average is $44.51 and its 200 day simple moving average is $41.09.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The firm had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $0.81 million. The business’s revenue was down 73.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.92) EPS. As a group, sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.35 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on RVMD. JPMorgan Chase & Co. dropped their price target on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Barclays upped their target price on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Wedbush reissued an “outperform” rating and issued a $59.00 price target on shares of Revolution Medicines in a research note on Thursday, August 8th. Oppenheimer upped their target price on Revolution Medicines from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Finally, Bank of America upped their price target on Revolution Medicines from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $54.00.

Institutional Investors Weigh In On Revolution Medicines

A number of large investors have recently made changes to their positions in RVMD. Susquehanna Fundamental Investments LLC purchased a new position in shares of Revolution Medicines in the 1st quarter valued at approximately $6,656,000. Mass General Brigham Inc purchased a new position in Revolution Medicines during the first quarter valued at $10,900,000. Vanguard Group Inc. raised its stake in Revolution Medicines by 0.8% during the first quarter. Vanguard Group Inc. now owns 14,757,112 shares of the company’s stock valued at $475,622,000 after buying an additional 122,721 shares during the last quarter. Seven Eight Capital LP purchased a new position in Revolution Medicines during the first quarter valued at $2,208,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Revolution Medicines by 3.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,814,310 shares of the company’s stock valued at $155,166,000 after buying an additional 177,957 shares during the last quarter. 94.34% of the stock is currently owned by 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.