HC Wainwright Issues Negative Outlook for RVMD Earnings

Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) - Stock analysts at HC Wainwright dropped their Q3 2024 earnings estimates for shares of Revolution Medicines in a research report issued on Monday, November 4th. HC Wainwright analyst R. Burns now anticipates that the company will earn ($0.89) per share for the quarter, down from their previous forecast of ($0.84). HC Wainwright currently has a "Buy" rating and a $64.00 target price on the stock. The consensus estimate for Revolution Medicines' current full-year earnings is ($3.35) per share. HC Wainwright also issued estimates for Revolution Medicines' Q4 2024 earnings at ($0.98) EPS, FY2024 earnings at ($3.38) EPS, Q1 2025 earnings at ($1.00) EPS, Q2 2025 earnings at ($1.02) EPS, Q3 2025 earnings at ($1.03) EPS, Q4 2025 earnings at ($1.05) EPS and FY2025 earnings at ($4.09) EPS.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same period last year, the firm posted ($0.99) EPS.

A number of other research analysts have also recently weighed in on the company. Needham & Company LLC lifted their price objective on Revolution Medicines from $61.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday. Barclays upped their price target on shares of Revolution Medicines from $54.00 to $60.00 and gave the stock an "overweight" rating in a research report on Friday, September 27th. Bank of America raised their price objective on shares of Revolution Medicines from $48.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, July 16th. Piper Sandler upped their target price on shares of Revolution Medicines from $57.00 to $70.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Wedbush reiterated an "outperform" rating and issued a $59.00 price target on shares of Revolution Medicines in a research note on Thursday, August 8th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $61.00.

Revolution Medicines Trading Down 0.5 %

NASDAQ RVMD traded down $0.32 on Thursday, hitting $59.10. 1,980,842 shares of the company traded hands, compared to its average volume of 1,335,572. The business's 50 day moving average price is $46.86 and its 200-day moving average price is $42.89. Revolution Medicines has a 52-week low of $18.79 and a 52-week high of $60.53. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of -16.39 and a beta of 1.40.

Insider Buying and Selling at Revolution Medicines

In related news, insider Stephen Michael Kelsey sold 16,666 shares of the company's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $49.49, for a total transaction of $824,800.34. Following the sale, the insider now owns 264,408 shares of the company's stock, valued at $13,085,551.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Jack Anders sold 10,000 shares of Revolution Medicines stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.30, for a total value of $503,000.00. Following the completion of the transaction, the chief financial officer now owns 98,932 shares in the company, valued at approximately $4,976,279.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Michael Kelsey sold 16,666 shares of the firm's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $49.49, for a total value of $824,800.34. Following the completion of the sale, the insider now owns 264,408 shares of the company's stock, valued at approximately $13,085,551.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,866 shares of company stock worth $6,355,624 in the last quarter. 8.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Revolution Medicines

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Baker BROS. Advisors LP lifted its stake in shares of Revolution Medicines by 46.6% during the 1st quarter. Baker BROS. Advisors LP now owns 7,549,249 shares of the company's stock worth $243,312,000 after acquiring an additional 2,400,592 shares during the last quarter. Farallon Capital Management LLC lifted its position in shares of Revolution Medicines by 30.0% during the second quarter. Farallon Capital Management LLC now owns 9,757,692 shares of the company's stock worth $378,696,000 after purchasing an additional 2,249,820 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Revolution Medicines by 77.9% during the first quarter. Janus Henderson Group PLC now owns 3,912,119 shares of the company's stock valued at $126,067,000 after purchasing an additional 1,712,639 shares during the period. Logos Global Management LP bought a new position in shares of Revolution Medicines in the second quarter worth about $46,572,000. Finally, Hood River Capital Management LLC purchased a new position in Revolution Medicines in the 2nd quarter worth about $35,472,000. Hedge funds and other institutional investors own 94.34% 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.