Margaret A. Horn Sells 3,058 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) COO Margaret A. Horn sold 3,058 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $119,384.32. Following the completion of the transaction, the chief operating officer now owns 153,533 shares of the company’s stock, valued at $5,993,928.32. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Revolution Medicines Stock Performance

Shares of RVMD opened at $38.75 on Thursday. The stock’s 50-day simple moving average is $40.74 and its 200 day simple moving average is $45.78. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of -10.79 and a beta of 1.46. Revolution Medicines, Inc. has a 52-week low of $29.55 and a 52-week high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last announced 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). On average, research analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RVMD has been the subject of a number of recent analyst reports. UBS Group upped their price objective 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 upped their price target on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. upped their price target on Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Needham & Company LLC dropped their price target on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Stifel Nicolaus dropped their price target on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $66.31.

Hedge Funds Weigh In On Revolution Medicines

A number of institutional investors have recently added to or reduced their stakes in RVMD. KBC Group NV increased its stake in Revolution Medicines by 12.9% in the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after acquiring an additional 368 shares during the last quarter. CIBC Asset Management Inc bought a new position in Revolution Medicines in the 3rd quarter worth about $216,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Revolution Medicines in the 3rd quarter worth about $1,220,000. Intech Investment Management LLC bought a new position in shares of Revolution Medicines during the 3rd quarter valued at about $1,709,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Revolution Medicines by 58.9% during the 3rd 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 during the last quarter. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Company Profile

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.