Tema Etfs LLC Has $3.34 Million Stock Position in Revolution Medicines, Inc. $RVMD

Key Points

• Tema Etfs LLC increased its holdings in Revolution Medicines, Inc. by 107.8% in the first quarter, acquiring an additional 49,056 shares and now owning 94,578 shares worth approximately $3.3 million.
• Revolution Medicines reported a loss of ($1.31) EPS for the last quarter, which was below analysts' consensus estimate of ($0.94), despite a revenue increase of 0% compared to the previous year.
• Several analysts have given Revolution Medicines a Buy rating, with target prices ranging from $65.00 to $80.00, reflecting positive sentiment for the company despite its recent performance.

Tema Etfs LLC increased its stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 107.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,578 shares of the company's stock after buying an additional 49,056 shares during the quarter. Revolution Medicines makes up 1.0% of Tema Etfs LLC's holdings, making the stock its 25th biggest position. Tema Etfs LLC owned about 0.05% of Revolution Medicines worth $3,344,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Farallon Capital Management LLC boosted its position in Revolution Medicines by 17.1% during the fourth quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock worth $579,498,000 after purchasing an additional 1,931,000 shares during the period. Wellington Management Group LLP lifted its stake in shares of Revolution Medicines by 8.9% during the 1st quarter. Wellington Management Group LLP now owns 11,787,921 shares of the company's stock worth $416,821,000 after buying an additional 966,230 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Revolution Medicines by 54.5% during the 4th quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company's stock worth $414,777,000 after buying an additional 3,346,755 shares during the period. Baker BROS. Advisors LP boosted its holdings in shares of Revolution Medicines by 4.9% during the 4th quarter. Baker BROS. Advisors LP now owns 7,936,972 shares of the company's stock worth $347,163,000 after buying an additional 367,882 shares during the period. Finally, Nextech Invest Ltd. grew its stake in Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock valued at $332,472,000 after buying an additional 1,304,347 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company's stock.

Analysts Set New Price Targets

RVMD has been the subject of several research reports. Piper Sandler started coverage on shares of Revolution Medicines in a research report on Monday, August 18th. They set an "overweight" rating and a $75.00 price objective for the company. HC Wainwright reiterated a "buy" rating and set a $72.00 target price (down previously from $73.00) on shares of Revolution Medicines in a research note on Wednesday, May 14th. Wells Fargo & Company started coverage on Revolution Medicines in a research note on Friday, August 15th. They issued an "overweight" rating and a $67.00 price target for the company. Wedbush reaffirmed an "outperform" rating and issued a $73.00 price objective (up from $67.00) on shares of Revolution Medicines in a report on Tuesday, June 24th. Finally, Oppenheimer increased their price objective on Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Thirteen investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $69.92.

Revolution Medicines Stock Performance

Shares of RVMD traded down $0.36 during midday trading on Friday, reaching $37.97. 1,943,371 shares of the stock were exchanged, compared to its average volume of 2,010,886. Revolution Medicines, Inc. has a twelve month low of $29.17 and a twelve month high of $62.40. The company has a quick ratio of 11.79, a current ratio of 11.79 and a debt-to-equity ratio of 0.13. The company has a market cap of $7.10 billion, a P/E ratio of -8.44 and a beta of 1.16. The stock's 50 day simple moving average is $37.26 and its 200 day simple moving average is $38.18.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($1.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.37). The business's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.81) earnings per share. On average, sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

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.