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

Tema Etfs LLC acquired a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 45,522 shares of the company’s stock, valued at approximately $1,991,000.

A number of other institutional investors and hedge funds have also made changes to their positions in RVMD. Barclays PLC grew its position in shares of Revolution Medicines by 187.1% during the third quarter. Barclays PLC now owns 294,664 shares of the company’s stock worth $13,362,000 after buying an additional 192,021 shares in the last quarter. Avanza Fonder AB acquired a new position in shares of Revolution Medicines during the fourth quarter worth about $173,000. Sandy Cove Advisors LLC acquired a new position in shares of Revolution Medicines during the fourth quarter worth about $1,837,000. KBC Group NV grew its position in shares of Revolution Medicines by 54.6% during the fourth quarter. KBC Group NV now owns 4,979 shares of the company’s stock worth $218,000 after buying an additional 1,758 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Revolution Medicines by 92.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 61,980 shares of the company’s stock worth $2,711,000 after buying an additional 29,853 shares in the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RVMD shares. Oppenheimer boosted 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. Stifel Nicolaus lowered their price target on Revolution Medicines from $78.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Wedbush reaffirmed an “outperform” rating and issued a $67.00 price target on shares of Revolution Medicines in a report on Thursday, May 8th. HC Wainwright reaffirmed a “buy” rating and issued a $72.00 price target (down from $73.00) on shares of Revolution Medicines in a report on Wednesday. Finally, Guggenheim lowered their price target on Revolution Medicines from $87.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $67.08.

Revolution Medicines Price Performance

Shares of NASDAQ:RVMD opened at $39.54 on Friday. The stock has a market cap of $7.37 billion, a P/E ratio of -11.01 and a beta of 1.11. The firm has a fifty day moving average price of $37.49 and a 200 day moving average price of $43.12. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $62.40.

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

Insider Buying and Selling

In related news, CFO Jack Anders sold 1,864 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $72,770.56. Following the completion of the sale, the chief financial officer now owns 115,006 shares in the company, valued at $4,489,834.24. This represents a 1.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark A. Goldsmith sold 11,738 shares of the stock in a transaction on 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 owns 441,564 shares of the company’s stock, valued at approximately $17,238,658.56. This represents a 2.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,660 shares of company stock worth $650,406 in the last 90 days. Company insiders own 8.20% of the company’s stock.

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.