Tema Etfs LLC Buys New Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

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

Other hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc acquired a new stake in Revolution Medicines during the 4th quarter worth approximately $34,000. Sterling Capital Management LLC increased its position in Revolution Medicines by 588.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock worth $86,000 after buying an additional 1,672 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Revolution Medicines by 368.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock worth $90,000 after buying an additional 1,613 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Revolution Medicines in the fourth quarter valued at about $104,000. Finally, Daiwa Securities Group Inc. boosted its position in shares of Revolution Medicines by 521.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company's stock valued at $165,000 after acquiring an additional 3,178 shares during the period. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Revolution Medicines

In related news, CFO Jack Anders sold 1,864 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $72,770.56. Following the sale, the chief financial officer now owns 115,006 shares in the company, valued at $4,489,834.24. The trade was a 1.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $119,384.32. Following the completion of the transaction, the chief operating officer now owns 153,533 shares of the company's stock, valued at $5,993,928.32. This represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,660 shares of company stock valued at $650,406. 8.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RVMD. Stifel Nicolaus dropped their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Guggenheim dropped their price target on shares of Revolution Medicines from $87.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Wedbush reiterated an "outperform" rating and issued a $67.00 price target on shares of Revolution Medicines in a research note on Thursday, May 8th. Needham & Company LLC restated a "buy" rating and set a $57.00 price objective on shares of Revolution Medicines in a research note on Thursday, May 8th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $72.00 price objective (down from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $67.08.

Revolution Medicines Stock Up 0.8%

Shares of RVMD stock traded up $0.32 during trading hours on Friday, reaching $39.12. The company's stock had a trading volume of 304,207 shares, compared to its average volume of 1,488,353. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $62.40. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of -10.89 and a beta of 1.11. The firm's 50 day simple moving average is $37.52 and its 200-day simple moving average is $42.78.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same quarter in the previous year, the company posted ($0.70) earnings per share. Sell-side analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Revolution Medicines Profile

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.