Revolution Medicines (NASDAQ:RVMD) Releases Quarterly Earnings Results, Misses Estimates By $0.11 EPS

Revolution Medicines (NASDAQ:RVMD) released its quarterly earnings data on Wednesday. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.11), Zacks reports.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD traded down $0.84 during trading on Wednesday, hitting $40.50. The company had a trading volume of 1,287,715 shares, compared to its average volume of 1,275,704. The business’s 50-day moving average is $42.35 and its 200 day moving average is $46.28. The company has a market cap of $6.81 billion, a P/E ratio of -11.28 and a beta of 1.45. Revolution Medicines has a 52 week low of $29.00 and a 52 week high of $62.40.

Analyst Ratings Changes

A number of brokerages recently weighed in on RVMD. Guggenheim upped their target price on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their target price on Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. UBS Group boosted their price target on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Wedbush reissued an “outperform” rating and set a $70.00 target price on shares of Revolution Medicines in a report on Monday, December 2nd. Finally, HC Wainwright raised their price objective on Revolution Medicines from $64.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $66.25.

Insider Transactions at Revolution Medicines

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

About Revolution Medicines

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.