Revolution Medicines (RVMD) Set to Announce Quarterly Earnings on Monday

Revolution Medicines (NASDAQ:RVMD) is scheduled to be announcing its earnings results after the market closes on Monday, November 6th. Analysts expect the company to announce earnings of ($1.01) per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Tuesday, August 8th. The company reported ($0.92) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.10). Revolution Medicines had a negative net margin of 1,003.36% and a negative return on equity of 36.46%. The firm had revenue of $3.82 million during the quarter, compared to the consensus estimate of $1.56 million. During the same period in the prior year, the business earned ($0.82) earnings per share. Revolution Medicines’s quarterly revenue was down 58.1% compared to the same quarter last year. On average, analysts expect Revolution Medicines to post $-4 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

Revolution Medicines Stock Up 4.8 %

RVMD stock opened at $22.16 on Friday. Revolution Medicines has a 12 month low of $15.44 and a 12 month high of $35.60. The firm has a market cap of $2.42 billion, a P/E ratio of -7.06 and a beta of 1.47. The company’s 50-day moving average price is $28.25 and its two-hundred day moving average price is $27.09.

Insider Activity at Revolution Medicines

In related news, Director Barbara Weber sold 15,000 shares of Revolution Medicines stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $35.07, for a total transaction of $526,050.00. Following the sale, the director now directly owns 15,825 shares of the company’s stock, valued at approximately $554,982.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Revolution Medicines news, CFO Jack Anders sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $35.05, for a total transaction of $701,000.00. Following the sale, the chief financial officer now directly owns 55,094 shares of the company’s stock, valued at approximately $1,931,044.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Barbara Weber sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $35.07, for a total transaction of $526,050.00. Following the sale, the director now directly owns 15,825 shares in the company, valued at $554,982.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,882 shares of company stock valued at $4,547,328. 8.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Revolution Medicines

A number of institutional investors have recently added to or reduced their stakes in RVMD. Vanguard Group Inc. grew its holdings in Revolution Medicines by 25.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,984,002 shares of the company’s stock worth $137,725,000 after acquiring an additional 1,416,990 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Revolution Medicines by 36.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,035,179 shares of the company’s stock valued at $109,063,000 after purchasing an additional 1,355,137 shares during the last quarter. State Street Corp boosted its stake in shares of Revolution Medicines by 39.3% in the 3rd quarter. State Street Corp now owns 4,312,134 shares of the company’s stock valued at $85,035,000 after purchasing an additional 1,217,152 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Revolution Medicines by 17.6% in the 3rd quarter. BlackRock Inc. now owns 6,353,459 shares of the company’s stock valued at $125,291,000 after purchasing an additional 949,655 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Revolution Medicines by 25.7% in the 1st quarter. JPMorgan Chase & Co. now owns 3,262,638 shares of the company’s stock valued at $70,669,000 after purchasing an additional 666,584 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RVMD shares. HC Wainwright reissued a “buy” rating and issued a $32.00 target price on shares of Revolution Medicines in a report on Thursday, October 26th. Needham & Company LLC raised their target price on shares of Revolution Medicines from $34.00 to $36.00 and gave the company a “buy” rating in a report on Monday, October 23rd. Stifel Nicolaus lifted their price target on shares of Revolution Medicines from $37.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, September 21st. Finally, Oppenheimer lifted their price target on shares of Revolution Medicines from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, October 23rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.29.

Revolution Medicines Company Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops 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 tumors.