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

Revolution Medicines (NASDAQ:RVMD) posted its 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 stock traded up $0.95 during trading on Friday, reaching $40.03. The company’s stock had a trading volume of 159,565 shares, compared to its average volume of 1,278,081. The stock’s 50-day moving average price is $42.21 and its 200 day moving average price is $46.19. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of -11.15 and a beta of 1.45. Revolution Medicines has a 1-year low of $29.00 and a 1-year high of $62.40.

Analyst Upgrades and Downgrades

RVMD has been the subject of a number of analyst reports. HC Wainwright increased their target price on shares of Revolution Medicines from $64.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Wedbush restated an “outperform” rating and set a $67.00 price target on shares of Revolution Medicines in a research note on Thursday. Guggenheim upped their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. upped their price target on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Finally, 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. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $66.23.

Insider Buying and Selling at Revolution Medicines

In other news, CFO Jack Anders sold 2,635 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $119,629.00. Following the transaction, the chief financial officer now directly owns 96,470 shares of the company’s stock, valued at $4,379,738. This represents a 2.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thilo Schroeder purchased 1,304,347 shares of the stock in a transaction dated Thursday, December 5th. The shares were bought at an average cost of $46.00 per share, for a total transaction of $59,999,962.00. Following the completion of the purchase, the director now 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. In the last three months, 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.