Revolution Medicines (NASDAQ:RVMD) Releases Quarterly Earnings Results

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

Revolution Medicines Trading Down 2.0 %

NASDAQ RVMD traded down $0.84 on Wednesday, hitting $40.50. 1,287,719 shares of the company’s stock traded hands, compared to its average volume of 1,286,606. The firm’s 50-day moving average price is $42.35 and its two-hundred day moving average price is $46.28. The firm has a market capitalization of $6.81 billion, a PE ratio of -11.28 and a beta of 1.45. Revolution Medicines has a 1-year low of $29.00 and a 1-year high of $62.40.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,714 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 325,056 shares in the company, valued at approximately $14,757,542.40. This represents a 3.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thilo Schroeder acquired 1,304,347 shares of the company’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 purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 18,678 shares of company stock worth $847,981 over the last 90 days. 8.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RVMD shares. Needham & Company LLC restated a “buy” rating and issued a $68.00 target price on shares of Revolution Medicines in a research note on Tuesday, December 3rd. Piper Sandler increased their price objective on Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Wedbush restated an “outperform” rating and set a $70.00 target price on shares of Revolution Medicines in a research note on Monday, December 2nd. Guggenheim increased their price target on Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, UBS Group raised their price target on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Revolution Medicines currently has a consensus rating of “Buy” and a consensus target price of $66.25.

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.