Revolution Medicines (NASDAQ:RVMD) Posts Quarterly Earnings Results

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

Revolution Medicines Price Performance

Shares of RVMD opened at $39.08 on Friday. Revolution Medicines has a 1-year low of $29.00 and a 1-year high of $62.40. The company has a market capitalization of $6.57 billion, a P/E ratio of -10.89 and a beta of 1.45. The firm’s 50 day simple moving average is $42.21 and its 200 day simple moving average is $46.19.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RVMD shares. JPMorgan Chase & Co. boosted their price objective on Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Guggenheim boosted their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus dropped their price target on shares of Revolution Medicines from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Thursday. Wedbush reiterated an “outperform” rating and issued a $67.00 price objective on shares of Revolution Medicines in a research note on Thursday. Finally, UBS Group boosted their target price on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $66.23.

Insider Buying and Selling at Revolution Medicines

In other news, Director Thilo Schroeder purchased 1,304,347 shares of the stock in a transaction on Thursday, December 5th. The shares were acquired at an average price of $46.00 per share, for a total transaction of $59,999,962.00. Following the completion of the transaction, the director now directly owns 2,096,612 shares of the company’s stock, valued at approximately $96,444,152. This trade represents a 164.64 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark A. Goldsmith sold 11,714 shares of Revolution Medicines stock in a transaction dated 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 directly owns 325,056 shares of the company’s stock, valued at approximately $14,757,542.40. This trade represents a 3.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,678 shares of company stock worth $847,981 over the last three months. 8.00% of the stock is owned by 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.