Revolution Medicines (NASDAQ:RVMD) Announces Earnings Results, Misses Estimates By $0.05 EPS

Revolution Medicines (NASDAQ:RVMD) issued its quarterly earnings results on Wednesday. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05), Briefing.com reports. During the same period in the prior year, the firm posted ($0.99) earnings per share.

Revolution Medicines Stock Down 0.5 %

NASDAQ:RVMD traded down $0.32 on Thursday, hitting $59.10. The stock had a trading volume of 1,980,809 shares, compared to its average volume of 1,335,571. The company has a fifty day moving average price of $46.86 and a two-hundred day moving average price of $42.89. Revolution Medicines has a 1-year low of $18.79 and a 1-year high of $60.53. The stock has a market cap of $9.87 billion, a price-to-earnings ratio of -16.39 and a beta of 1.40.

Insider Activity

In other Revolution Medicines news, 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 transaction of $824,800.34. Following the completion of the sale, the insider now owns 264,408 shares of the company’s stock, valued at $13,085,551.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total value of $449,300.00. Following the completion of the transaction, the insider now owns 300,170 shares of the company’s stock, valued at approximately $13,486,638.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephen Michael Kelsey sold 16,666 shares of Revolution Medicines stock in a transaction on Monday, October 14th. The shares were sold at an average price of $49.49, for a total value of $824,800.34. Following the completion of the transaction, the insider now owns 264,408 shares of the company’s stock, valued at approximately $13,085,551.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,866 shares of company stock valued at $6,355,624. 8.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RVMD. JPMorgan Chase & Co. upped their target price on Revolution Medicines from $54.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday. HC Wainwright lifted their target price on shares of Revolution Medicines from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday. Needham & Company LLC boosted their target price on shares of Revolution Medicines from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler raised their price target on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Guggenheim boosted their price objective on Revolution Medicines from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Revolution Medicines currently has an average rating of “Buy” and an average price target of $61.00.

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.