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

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

Revolution Medicines Stock Up 2.4 %

Revolution Medicines stock traded up $0.95 during mid-day trading on Friday, reaching $40.03. 159,565 shares of the company’s stock traded hands, compared to its average volume of 1,278,081. Revolution Medicines has a 12-month low of $29.00 and a 12-month high of $62.40. The company has a market cap of $6.73 billion, a price-to-earnings ratio of -11.15 and a beta of 1.45. The stock has a 50 day moving average of $42.21 and a two-hundred day moving average of $46.19.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RVMD shares. HC Wainwright upped their price target on shares of Revolution Medicines from $64.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price target on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Stifel Nicolaus reduced their price objective on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday. Wedbush reiterated an “outperform” rating and set a $67.00 target price on shares of Revolution Medicines in a research report on Thursday. Finally, Needham & Company LLC lowered their price objective on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday. Twelve analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Revolution Medicines has a consensus rating of “Buy” and a consensus price target of $66.23.

Insider Activity

In other news, CFO Jack Anders sold 2,635 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.40, for a total value of $119,629.00. Following the completion of the sale, the chief financial officer now owns 96,470 shares of the company’s stock, valued at approximately $4,379,738. This represents a 2.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thilo Schroeder purchased 1,304,347 shares of the stock in a transaction dated 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 in the company, valued at approximately $96,444,152. This trade represents a 164.64 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 18,678 shares of company stock valued at $847,981. 8.00% of the stock is currently owned by company insiders.

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.