Revolution Medicines (NASDAQ:RVMD) Posts Quarterly Earnings Results

Revolution Medicines (NASDAQ:RVMD) posted its quarterly earnings results on Wednesday. The company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11), Zacks reports.

Revolution Medicines Trading Down 2.3 %

Shares of RVMD stock opened at $40.39 on Thursday. Revolution Medicines has a twelve month low of $29.00 and a twelve month high of $62.40. The company’s 50-day moving average price is $42.30 and its 200-day moving average price is $46.24. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of -11.50 and a beta of 1.45.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Piper Sandler upped their price objective on Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. UBS Group lifted their target price on Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Wedbush reiterated an “outperform” rating and set a $70.00 price objective on shares of Revolution Medicines in a research note on Monday, December 2nd. Finally, HC Wainwright raised their price objective on Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Eleven 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, the company presently has an average rating of “Buy” and a consensus price target of $65.50.

Insiders Place Their Bets

In related news, Director Thilo Schroeder acquired 1,304,347 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were purchased at an average cost of $46.00 per share, for a total transaction of $59,999,962.00. Following the acquisition, the director now owns 2,096,612 shares in the company, valued at $96,444,152. The trade was a 164.64 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Margaret A. Horn sold 4,329 shares of Revolution Medicines stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $196,536.60. Following the completion of the sale, the chief operating officer now owns 127,991 shares of the company’s stock, valued at $5,810,791.40. This trade represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,678 shares of company stock valued at $847,981 over the last ninety days. Company insiders own 8.00% of the company’s stock.

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.