Revolution Medicines (NASDAQ:RVMD) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Revolution Medicines (NASDAQ:RVMDGet Rating) released its earnings results on Monday. The company reported ($0.78) EPS for the quarter, beating the consensus estimate of ($0.82) by $0.04, MarketWatch Earnings reports. Revolution Medicines had a negative net margin of 636.58% and a negative return on equity of 28.26%. During the same quarter in the previous year, the company posted ($0.53) earnings per share.

Shares of RVMD stock opened at $14.99 on Tuesday. The firm has a fifty day moving average of $22.00 and a 200-day moving average of $24.25. Revolution Medicines has a 52-week low of $14.46 and a 52-week high of $35.07. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -5.86 and a beta of 2.01.

In other news, Director Thilo Schroeder bought 42,000 shares of the stock in a transaction dated Friday, March 25th. The shares were acquired at an average price of $24.79 per share, with a total value of $1,041,180.00. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders bought 972,079 shares of company stock worth $18,310,981. 22.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of RVMD. Bank of America Corp DE boosted its stake in shares of Revolution Medicines by 123.9% in the 2nd quarter. Bank of America Corp DE now owns 28,433 shares of the company’s stock valued at $902,000 after purchasing an additional 15,732 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Revolution Medicines by 38.2% in the 2nd quarter. Wells Fargo & Company MN now owns 16,919 shares of the company’s stock valued at $536,000 after purchasing an additional 4,679 shares during the last quarter. Morgan Stanley boosted its stake in shares of Revolution Medicines by 230.4% in the 2nd quarter. Morgan Stanley now owns 526,418 shares of the company’s stock valued at $16,708,000 after purchasing an additional 367,073 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Revolution Medicines in the 3rd quarter valued at about $754,000. Finally, Royal Bank of Canada bought a new position in shares of Revolution Medicines in the 3rd quarter valued at about $48,000.

Several equities analysts recently commented on RVMD shares. Stifel Nicolaus upgraded shares of Revolution Medicines from a “hold” rating to a “buy” rating and cut their target price for the company from $36.00 to $26.00 in a research note on Tuesday, March 1st. Zacks Investment Research upgraded shares of Revolution Medicines from a “sell” rating to a “hold” rating in a research note on Saturday, April 23rd. Finally, HC Wainwright increased their price objective on shares of Revolution Medicines from $38.00 to $40.00 in a research note on Tuesday, March 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $33.00.

About Revolution Medicines (Get Rating)

Revolution Medicines, Inc, a clinical-stage precision oncology company, focuses on developing therapies to inhibit frontier targets in RAS-addicted cancers. The company is developing RMC-4630, an inhibitor of SHP2, which is in Phase 1/2 clinical trial for the treatment of solid tumors, such as gynecologic and colorectal cancer tumors.

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Earnings History for Revolution Medicines (NASDAQ:RVMD)

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