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

Revolution Medicines (NASDAQ:RVMD - Get Free Report) announced 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 Up 4.2 %

Shares of Revolution Medicines stock traded up $1.66 on Friday, reaching $40.74. The company's stock had a trading volume of 2,015,344 shares, compared to its average volume of 1,327,225. Revolution Medicines has a 52-week low of $29.00 and a 52-week high of $62.40. The company has a market capitalization of $6.85 billion, a P/E ratio of -11.35 and a beta of 1.45. The stock has a 50-day moving average price of $42.15 and a 200-day moving average price of $46.22.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RVMD shares. Piper Sandler raised their price target on Revolution Medicines from $57.00 to $70.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Wedbush reissued an "outperform" rating and issued a $67.00 target price on shares of Revolution Medicines in a report on Thursday. UBS Group upped their price target on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Stifel Nicolaus dropped their price objective on shares of Revolution Medicines from $80.00 to $78.00 and set a "buy" rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. upped their target price on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an "overweight" rating in a research report on Tuesday, December 3rd. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $66.23.

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Insider Activity at Revolution Medicines

In related news, Director Thilo Schroeder acquired 1,304,347 shares of the stock in a transaction on Thursday, December 5th. The shares were bought at an average price of $46.00 per share, with a total value of $59,999,962.00. Following the completion of the purchase, the director now owns 2,096,612 shares of the company's stock, valued at approximately $96,444,152. This represents a 164.64 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark A. Goldsmith sold 11,714 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $531,815.60. Following the completion of the sale, the insider now directly owns 325,056 shares of the company's stock, valued at $14,757,542.40. This trade represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,678 shares of company stock valued at $847,981. 8.00% of the stock is 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.