Revolution Medicines (NASDAQ:RVMD) Issues Quarterly Earnings Results

Revolution Medicines (NASDAQ:RVMD) posted 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 Stock Down 2.0 %

RVMD stock traded down $0.84 during trading on Wednesday, reaching $40.50. The company’s stock had a trading volume of 1,287,715 shares, compared to its average volume of 1,275,704. The company has a market capitalization of $6.81 billion, a P/E ratio of -11.28 and a beta of 1.45. The company’s fifty day moving average is $42.35 and its 200-day moving average is $46.28. Revolution Medicines has a 1 year low of $29.00 and a 1 year high of $62.40.

Insiders Place Their Bets

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,714 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 $531,815.60. Following the completion of the transaction, the insider now directly owns 325,056 shares in the company, valued at approximately $14,757,542.40. This represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $119,629.00. Following the completion of the sale, the chief financial officer now owns 96,470 shares of the company’s stock, valued at approximately $4,379,738. The trade was a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,678 shares of company stock valued at $847,981 in the last three months. Corporate insiders own 8.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wedbush reiterated an “outperform” rating and set a $70.00 price objective on shares of Revolution Medicines in a report on Monday, December 2nd. Guggenheim lifted their target price on Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. HC Wainwright increased their target price on Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and issued a $68.00 target price on shares of Revolution Medicines in a report on Tuesday, December 3rd. Finally, Piper Sandler lifted their price target on Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Revolution Medicines 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.