Tema ETFs LLC Sells 26,443 Shares of Revolution Medicines, Inc. $RVMD

Key Points

• Tema ETFs LLC reduced its Revolution Medicines stake by 26.9% in the second quarter, selling 26,443 shares and retaining 71,735 shares valued at approximately $13.4 million. Institutional investors collectively own 94.34% of the company.
• Analyst sentiment remains broadly positive, with 19 Buy ratings and a consensus “Moderate Buy” rating. Recent price targets range from $215 to $240, although the consensus target is $161.79.
• Revolution Medicines reported a quarterly loss of $3.06 per share, missing estimates by $1.02, while the stock opened at $205.55 near its 52-week high. Insiders have sold 132,497 shares worth roughly $21.5 million over the past 90 days.

Tema ETFs LLC trimmed its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 26.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 71,735 shares of the company's stock after selling 26,443 shares during the period. Tema ETFs LLC's holdings in Revolution Medicines were worth $13,435,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in RVMD. Norges Bank bought a new position in Revolution Medicines during the 4th quarter valued at approximately $195,568,000. Avoro Capital Advisors LLC bought a new stake in Revolution Medicines in the fourth quarter worth $172,840,000. UBS Group AG boosted its holdings in Revolution Medicines by 183.6% in the fourth quarter. UBS Group AG now owns 3,087,937 shares of the company's stock worth $245,954,000 after acquiring an additional 1,998,972 shares in the last quarter. Polar Capital Holdings Plc grew its stake in shares of Revolution Medicines by 321.2% in the fourth quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company's stock worth $160,398,000 after acquiring an additional 1,535,686 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of Revolution Medicines by 197.1% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,205,555 shares of the company's stock worth $175,672,000 after acquiring an additional 1,463,155 shares during the last quarter. 94.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Mizuho lifted their price target on Revolution Medicines from $185.00 to $215.00 and gave the stock an "outperform" rating in a research report on Monday, July 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Revolution Medicines in a research report on Friday, July 17th. Needham & Company LLC increased their price objective on shares of Revolution Medicines from $236.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Oppenheimer restated an "outperform" rating and set a $230.00 price objective on shares of Revolution Medicines in a research note on Thursday, August 6th. Finally, Evercore reaffirmed an "outperform" rating and issued a $230.00 target price on shares of Revolution Medicines in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $161.79.

Revolution Medicines Price Performance

Shares of NASDAQ:RVMD opened at $205.55 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38. The firm has a market cap of $44.06 billion, a price-to-earnings ratio of -23.30 and a beta of 1.39. The business has a 50-day simple moving average of $178.61 and a two-hundred day simple moving average of $138.84. Revolution Medicines, Inc. has a fifty-two week low of $34.21 and a fifty-two week high of $208.76.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.04) by ($1.02). During the same quarter in the previous year, the firm earned ($1.31) EPS. On average, analysts expect that Revolution Medicines, Inc. will post -8.65 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Mark A. Goldsmith sold 10,020 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total transaction of $1,564,322.40. Following the transaction, the insider directly owned 267,330 shares of the company's stock, valued at $41,735,559.60. This represents a 3.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sushil Patel sold 5,580 shares of the firm's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $187.99, for a total value of $1,048,984.20. Following the completion of the transaction, the director owned 21,656 shares in the company, valued at approximately $4,071,111.44. This trade represents a 20.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 132,497 shares of company stock valued at $21,470,486 in the last ninety days. Corporate insiders own 7.60% of the company's stock.

Revolution Medicines Company Profile

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company's research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.

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