Insider Selling: Revolution Medicines, Inc. (NASDAQ:RVMD) COO Sells 5,000 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) COO Margaret A. Horn sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $32.08, for a total value of $160,400.00. Following the completion of the sale, the chief operating officer now directly owns 99,474 shares in the company, valued at approximately $3,191,125.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD traded up $0.07 during midday trading on Tuesday, hitting $31.00. The stock had a trading volume of 1,343,380 shares, compared to its average volume of 1,105,024. The firm has a market cap of $3.38 billion, a P/E ratio of -9.97 and a beta of 1.36. Revolution Medicines, Inc. has a fifty-two week low of $17.03 and a fifty-two week high of $35.50. The company’s 50-day simple moving average is $30.04 and its 200 day simple moving average is $26.17.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Tuesday, August 8th. The company reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.10). The business had revenue of $3.82 million during the quarter, compared to the consensus estimate of $1.56 million. Revolution Medicines had a negative net margin of 1,003.36% and a negative return on equity of 36.46%. The firm’s revenue for the quarter was down 58.1% compared to the same quarter last year. During the same period last year, the business posted ($0.82) EPS. Equities analysts expect that Revolution Medicines, Inc. will post -3.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Belpointe Asset Management LLC acquired a new position in Revolution Medicines during the fourth quarter valued at approximately $26,000. US Bancorp DE grew its stake in Revolution Medicines by 68.1% in the second quarter. US Bancorp DE now owns 1,575 shares of the company’s stock valued at $42,000 after acquiring an additional 638 shares during the period. Strs Ohio bought a new stake in shares of Revolution Medicines in the second quarter worth about $45,000. Point72 Hong Kong Ltd acquired a new stake in shares of Revolution Medicines during the second quarter worth about $39,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Revolution Medicines by 77.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,132 shares of the company’s stock valued at $68,000 after purchasing an additional 1,366 shares in the last quarter.

Analyst Upgrades and Downgrades

RVMD has been the topic of a number of research reports. Oppenheimer boosted their price objective on Revolution Medicines from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 target price on shares of Revolution Medicines in a report on Wednesday, August 2nd. Finally, Needham & Company LLC reduced their price target on shares of Revolution Medicines from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Revolution Medicines presently has a consensus rating of “Moderate Buy” and an average price target of $33.67.

Revolution Medicines Company Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops therapies to inhibit frontier targets in RAS-addicted cancers. The company is developing RMC-4630, an inhibitor of SHP2, which is in Phase 1/2 clinical trial for the treatment of solid tumors, such as gynecologic tumors.