Revolution Medicines (NASDAQ:RVMD) Releases Quarterly Earnings Results, Misses Estimates By $0.29 EPS

Revolution Medicines (NASDAQ:RVMDGet Free Report) posted its quarterly earnings results on Monday. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.29), Briefing.com reports. The company had revenue of $0.74 million during the quarter, compared to analysts’ expectations of $1.20 million. Revolution Medicines had a negative net margin of 1,003.36% and a negative return on equity of 38.39%. Revolution Medicines’s revenue for the quarter was down 95.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.63) earnings per share.

Revolution Medicines Trading Down 2.2 %

Shares of NASDAQ RVMD opened at $29.96 on Thursday. Revolution Medicines has a 12-month low of $15.44 and a 12-month high of $35.60. The business’s fifty day simple moving average is $28.69 and its 200-day simple moving average is $27.26.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RVMD. Wedbush upped their price target on Revolution Medicines from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday. Bank of America upgraded Revolution Medicines from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $31.00 to $34.00 in a research report on Friday, January 5th. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 price objective on shares of Revolution Medicines in a research report on Tuesday, November 7th. UBS Group started coverage on Revolution Medicines in a research report on Wednesday, December 20th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their price objective on Revolution Medicines from $47.00 to $39.00 and set an “overweight” rating for the company in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.91.

Read Our Latest Stock Analysis on RVMD

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 33,334 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $29.01, for a total value of $967,019.34. Following the sale, the insider now directly owns 238,299 shares in the company, valued at $6,913,053.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Revolution Medicines news, insider Mark A. Goldsmith sold 8,165 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $25.90, for a total value of $211,473.50. Following the sale, the insider now directly owns 376,167 shares in the company, valued at $9,742,725.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen Michael Kelsey sold 33,334 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $29.01, for a total value of $967,019.34. Following the transaction, the insider now directly owns 238,299 shares in the company, valued at approximately $6,913,053.99. The disclosure for this sale can be found here. Insiders have sold a total of 57,333 shares of company stock worth $1,604,322 over the last ninety days. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

A number of hedge funds and other institutional investors have recently made changes to their positions in RVMD. Point72 Hong Kong Ltd acquired a new position in shares of Revolution Medicines during the second quarter worth about $39,000. US Bancorp DE increased its stake in shares of Revolution Medicines by 68.1% during the second quarter. US Bancorp DE now owns 1,575 shares of the company’s stock worth $42,000 after acquiring an additional 638 shares during the period. Shell Asset Management Co. acquired a new position in shares of Revolution Medicines during the fourth quarter worth about $54,000. KBC Group NV acquired a new position in shares of Revolution Medicines during the fourth quarter worth about $65,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Revolution Medicines by 76.5% during the first quarter. Tower Research Capital LLC TRC now owns 3,418 shares of the company’s stock worth $74,000 after acquiring an additional 1,481 shares during the period.

About Revolution Medicines

(Get Free Report)

Revolution Medicines, Inc, a clinical-stage oncology company, developing novel targeted therapies for RAS-addicted cancers. The company's research and development pipeline comprises RAS(ON) Inhibitors designed to suppress oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies.

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Earnings History for Revolution Medicines (NASDAQ:RVMD)

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