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Revolution Medicines Inc Up 1.15% To $30.73 After Earnings Miss

Tuesday, February 27, 2024 12:43 PM | InvestorsObserver Analysts

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Revolution Medicines Inc Up 1.15% To $30.73 After Earnings Miss

Revolution Medicines Inc (RVMD) said after close Monday that it lost $1.14 per share in quarter four 2023.

On the revenue line, the company reported $742 thousand, missing estimates by $348 thousand.

In the same quarter a year ago, the company lost $0.63 per share on revenue of $15.3 million.

The stock is up 1.15% to $30.73 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Revolution Medicines Inc a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 49. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Revolution Medicines Inc is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit elusive, frontier targets within notorious growth and survival pathways, with particular emphasis on the RAS and mTOR signaling pathways. The company's products include RMC-4630, a SHP2 inhibitor, RAS(ON) portfolio, and SOS1 and 4EBP1/mTORC1 programs.

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