Key Points
- Revolution Medicines COO Margaret Horn sold 29,600 shares on June 17 at an average price of $160.12, totaling about $4.74 million. The sale reduced her direct holdings by 16.07% and was tied to tax withholding on vested equity awards.
- The stock rose 0.8% and was trading at $157.77, near its 52-week high of $166.50. RVMD also trades well above its 50-day and 200-day moving averages.
- Analysts remain broadly bullish on RVMD, with a consensus rating of “Buy,” though the company recently reported a quarterly EPS loss that missed expectations. Institutional investors own a large majority of the shares, at 94.34%.
Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) COO Margaret Horn sold 3,575 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $156.12, for a total value of $558,129.00. Following the transaction, the chief operating officer owned 154,647 shares in the company, valued at approximately $24,143,489.64. This represents a 2.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Revolution Medicines Stock Up 0.8%
Shares of NASDAQ:RVMD opened at $157.77 on Thursday. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $166.50. The company has a market cap of $33.54 billion, a PE ratio of -22.32 and a beta of 1.40. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. The stock's 50-day moving average is $144.38 and its 200 day moving average is $112.39.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.83) by ($0.46). During the same quarter in the prior year, the firm posted ($1.13) earnings per share. Sell-side analysts anticipate that Revolution Medicines, Inc. will post -7.94 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Meeder Advisory Services Inc. grew its holdings in shares of Revolution Medicines by 3.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company's stock worth $401,000 after acquiring an additional 120 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Revolution Medicines by 1.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company's stock worth $802,000 after acquiring an additional 125 shares during the period. Deutsche Bank AG grew its holdings in shares of Revolution Medicines by 0.4% during the 4th quarter. Deutsche Bank AG now owns 32,217 shares of the company's stock worth $2,566,000 after acquiring an additional 130 shares during the period. Signaturefd LLC grew its holdings in shares of Revolution Medicines by 33.1% during the 4th quarter. Signaturefd LLC now owns 656 shares of the company's stock worth $52,000 after acquiring an additional 163 shares during the period. Finally, Allworth Financial LP grew its holdings in shares of Revolution Medicines by 57.2% during the 4th quarter. Allworth Financial LP now owns 577 shares of the company's stock worth $46,000 after acquiring an additional 210 shares during the period. Hedge funds and other institutional investors own 94.34% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on RVMD. HC Wainwright boosted their price target on Revolution Medicines from $169.00 to $195.00 and gave the company a "buy" rating in a report on Monday, June 1st. Wedbush restated an "outperform" rating on shares of Revolution Medicines in a report on Monday, June 1st. Truist Financial began coverage on Revolution Medicines in a report on Monday, May 18th. They set a "buy" rating and a $179.00 price target on the stock. Evercore restated an "outperform" rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Finally, Sanford C. Bernstein began coverage on Revolution Medicines in a report on Thursday, May 21st. They set a "market perform" rating and a $151.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Revolution Medicines presently has a consensus rating of "Buy" and a consensus price target of $123.72.
Get Our Latest Research Report on RVMD
Revolution Medicines Company Profile
(
Get Free Report)
Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company's research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.
The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
