Tema Etfs LLC Invests $1.99 Million in Revolution Medicines, Inc. (NASDAQ:RVMD)

Tema Etfs LLC bought a new position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 45,522 shares of the company's stock, valued at approximately $1,991,000.

Other hedge funds also recently bought and sold shares of the company. Stempoint Capital LP raised its holdings in shares of Revolution Medicines by 1,062.1% during the 4th quarter. Stempoint Capital LP now owns 193,535 shares of the company's stock valued at $8,465,000 after purchasing an additional 176,881 shares in the last quarter. Sandia Investment Management LP bought a new position in shares of Revolution Medicines during the 4th quarter valued at $219,000. Rafferty Asset Management LLC raised its holdings in shares of Revolution Medicines by 2.9% during the 4th quarter. Rafferty Asset Management LLC now owns 172,786 shares of the company's stock valued at $7,558,000 after purchasing an additional 4,947 shares in the last quarter. Polar Asset Management Partners Inc. raised its holdings in shares of Revolution Medicines by 46.0% during the 4th quarter. Polar Asset Management Partners Inc. now owns 34,600 shares of the company's stock valued at $1,513,000 after purchasing an additional 10,900 shares in the last quarter. Finally, Polar Capital Holdings Plc bought a new position in shares of Revolution Medicines during the 4th quarter valued at $32,834,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Trading Up 1.4%

NASDAQ RVMD traded up $0.54 on Tuesday, reaching $40.47. The company's stock had a trading volume of 1,044,322 shares, compared to its average volume of 1,491,523. The firm has a market cap of $7.54 billion, a PE ratio of -11.27 and a beta of 1.11. The business has a 50-day moving average price of $37.53 and a 200 day moving average price of $42.93. Revolution Medicines, Inc. has a 52 week low of $29.17 and a 52 week high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same period last year, the company posted ($0.70) earnings per share. Analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RVMD. Needham & Company LLC reiterated a "buy" rating and issued a $57.00 target price on shares of Revolution Medicines in a report on Thursday, May 8th. HC Wainwright restated 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. Wedbush restated an "outperform" rating and set a $67.00 target price on shares of Revolution Medicines in a research note on Thursday, May 8th. Oppenheimer increased their target price on Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Stifel Nicolaus decreased their target price on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $67.08.

Insider Buying and Selling

In other Revolution Medicines news, CFO Jack Anders sold 1,864 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $72,770.56. Following the sale, the chief financial officer now directly owns 115,006 shares of the company's stock, valued at approximately $4,489,834.24. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark A. Goldsmith sold 11,738 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $458,251.52. Following the sale, the insider now directly owns 441,564 shares in the company, valued at $17,238,658.56. This represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,660 shares of company stock worth $650,406 in the last 90 days. 8.20% of the stock is owned by company insiders.

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.