Revolution Medicines (NASDAQ:RVMD) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Revolution Medicines (NASDAQ:RVMD) issued its quarterly earnings data on Wednesday. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.05, Briefing.com reports. Revolution Medicines’s quarterly revenue was down 100.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.72) EPS.

Revolution Medicines Stock Performance

RVMD stock traded down $0.53 during trading on Thursday, hitting $37.78. 445,377 shares of the company’s stock traded hands, compared to its average volume of 1,342,188. Revolution Medicines has a 52 week low of $15.44 and a 52 week high of $40.21. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of -10.16 and a beta of 1.46. The business has a fifty day simple moving average of $33.59 and a 200 day simple moving average of $28.45.

Wall Street Analyst Weigh In

RVMD has been the subject of a number of recent analyst reports. Raymond James upgraded Revolution Medicines from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $36.00 to $48.00 in a report on Wednesday, April 10th. Oppenheimer lifted their price objective on Revolution Medicines from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Piper Sandler assumed coverage on Revolution Medicines in a report on Monday, March 11th. They issued an “overweight” rating and a $43.00 price objective for the company. Wedbush lifted their price target on shares of Revolution Medicines from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $46.00 price objective on shares of Revolution Medicines in a research report on Thursday. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $41.60.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, General Counsel Jeff Cislini sold 1,252 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $31.58, for a total transaction of $39,538.16. Following the completion of the transaction, the general counsel now owns 55,874 shares in the company, valued at $1,764,500.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Jack Anders sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $40.03, for a total transaction of $400,300.00. Following the transaction, the chief financial officer now directly owns 101,959 shares of the company’s stock, valued at $4,081,418.77. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Jeff Cislini sold 1,252 shares of Revolution Medicines stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $39,538.16. Following the sale, the general counsel now directly owns 55,874 shares of the company’s stock, valued at approximately $1,764,500.92. The disclosure for this sale can be found here. Insiders have sold a total of 28,705 shares of company stock worth $1,031,049 over the last ninety days. Company insiders own 8.50% 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.