Revolution Medicines (NASDAQ:RVMD) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Revolution Medicines (NASDAQ:RVMD) released its quarterly earnings data on Wednesday. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.05), Briefing.com reports. During the same quarter in the prior year, the company posted ($0.99) earnings per share.

Revolution Medicines Price Performance

RVMD stock traded up $1.34 during trading hours on Friday, reaching $60.44. 1,807,723 shares of the stock were exchanged, compared to its average volume of 1,337,747. The firm’s 50-day moving average is $47.56 and its 200-day moving average is $43.17. The company has a market cap of $10.10 billion, a price-to-earnings ratio of -16.84 and a beta of 1.40. Revolution Medicines has a 12 month low of $18.79 and a 12 month high of $61.06.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays upped their price objective on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Needham & Company LLC upped their price objective on Revolution Medicines from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday. HC Wainwright increased their price target on Revolution Medicines from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler upped their price objective on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Oppenheimer upped their price objective on shares of Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Revolution Medicines has an average rating of “Buy” and an average price target of $61.00.

Insiders Place Their Bets

In other Revolution Medicines news, insider Mark A. Goldsmith sold 30,000 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.36, for a total transaction of $1,510,800.00. Following the completion of the transaction, the insider now owns 300,170 shares in the company, valued at approximately $15,116,561.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Mark A. Goldsmith sold 30,000 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.36, for a total value of $1,510,800.00. Following the completion of the transaction, the insider now owns 300,170 shares in the company, valued at $15,116,561.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Michael Kelsey sold 16,666 shares of the firm’s stock in a transaction dated 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 $13,085,551.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,866 shares of company stock worth $6,355,624. Corporate insiders own 8.00% of the company’s stock.

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.