Revolution Medicines, Inc. (NASDAQ:RVMD) COO Sells $848,750.00 in Stock

Posted by on Oct 21st, 2023

Revolution Medicines, Inc. (NASDAQ:RVMD – Get Free Report) COO Margaret A. Horn sold 25,000 shares of Revolution Medicines stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $33.95, for a total value of $848,750.00. Following the sale, the chief operating officer now owns 96,960 shares of the company’s stock, valued at approximately $3,291,792. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Revolution Medicines Stock Performance

Revolution Medicines stock opened at $27.97 on Friday. The stock’s 50 day moving average price is $30.16 and its 200 day moving average price is $27.16. The firm has a market capitalization of $3.05 billion, a PE ratio of -8.91 and a beta of 1.41. Revolution Medicines, Inc. has a one year low of $17.47 and a one year high of $35.60.

Revolution Medicines (NASDAQ:RVMD – Get Free Report) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($0.92) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.10). The company had revenue of $3.82 million for the quarter, compared to analyst estimates of $1.56 million. Revolution Medicines had a negative return on equity of 36.46% and a negative net margin of 1,003.36%. The business’s revenue was down 58.1% on a year-over-year basis. During the same period last year, the firm posted ($0.82) earnings per share. On average, analysts forecast that Revolution Medicines, Inc. will post -3.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Revolution Medicines

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. National Bank of Canada FI increased its holdings in Revolution Medicines by 20.6% during the 1st quarter. National Bank of Canada FI now owns 30,783 shares of the company’s stock worth $655,000 after purchasing an additional 5,267 shares during the last quarter. Nextech Invest Ltd. increased its holdings in Revolution Medicines by 15.5% during the 1st quarter. Nextech Invest Ltd. now owns 4,839,529 shares of the company’s stock worth $104,824,000 after purchasing an additional 650,000 shares during the last quarter. Monashee Investment Management LLC purchased a new stake in Revolution Medicines during the 1st quarter worth approximately $866,000. EcoR1 Capital LLC increased its holdings in Revolution Medicines by 20.0% during the 1st quarter. EcoR1 Capital LLC now owns 5,352,183 shares of the company’s stock worth $115,928,000 after purchasing an additional 893,452 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in Revolution Medicines by 30.6% during the 1st quarter. Arizona State Retirement System now owns 22,623 shares of the company’s stock worth $490,000 after purchasing an additional 5,301 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Oppenheimer lifted their price objective on Revolution Medicines from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $34.00 price objective on shares of Revolution Medicines in a research report on Thursday, October 12th. Stifel Nicolaus raised their price target on Revolution Medicines from $37.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, September 21st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Revolution Medicines in a research note on Wednesday, August 2nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Revolution Medicines currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.57.

Check Out Our Latest Research Report on Revolution Medicines

About Revolution Medicines

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Revolution Medicines (NASDAQ:RVMD)

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