Tema Etfs LLC Decreases Position in Revolution Medicines, Inc. $RVMD

Tema Etfs LLC trimmed its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 20.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,603 shares of the company’s stock after selling 26,318 shares during the quarter. Tema Etfs LLC owned about 0.05% of Revolution Medicines worth $8,013,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RVMD. Farallon Capital Management LLC raised its holdings in Revolution Medicines by 2.1% during the third quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company’s stock worth $683,020,000 after purchasing an additional 300,000 shares in the last quarter. Baker BROS. Advisors LP grew its position in shares of Revolution Medicines by 1.0% in the 3rd quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock valued at $441,565,000 after buying an additional 90,385 shares during the last quarter. Nextech Invest Ltd. grew its position in shares of 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. Paradigm Biocapital Advisors LP raised its stake in Revolution Medicines by 2.1% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 6,223,291 shares of the company’s stock worth $290,628,000 after acquiring an additional 130,000 shares in the last quarter. Finally, Bellevue Group AG raised its stake in Revolution Medicines by 21.7% during the 3rd quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock worth $260,298,000 after acquiring an additional 994,538 shares in the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Stephen Michael Kelsey sold 4,302 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $427,962.96. Following the transaction, the insider owned 295,398 shares in the company, valued at $29,386,193.04. The trade was a 1.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mark A. Goldsmith sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $101.22, for a total value of $3,036,600.00. Following the sale, the insider directly owned 289,569 shares of the company’s stock, valued at approximately $29,310,174.18. This represents a 9.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 149,592 shares of company stock valued at $15,010,732. Insiders own 8.20% of the company’s stock.

Revolution Medicines Stock Up 1.4%

Shares of NASDAQ:RVMD opened at $98.64 on Thursday. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $124.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.14 and a quick ratio of 7.14. The stock has a market cap of $19.55 billion, a P/E ratio of -16.69 and a beta of 0.99. The firm has a fifty day moving average price of $99.06 and a 200 day moving average price of $80.05.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($1.86) EPS for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.30). During the same quarter in the prior year, the business posted ($1.12) EPS. Sell-side analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wedbush restated an “outperform” rating on shares of Revolution Medicines in a research note on Friday, January 9th. Jefferies Financial Group assumed coverage on Revolution Medicines in a research report on Monday, March 16th. They set a “buy” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a report on Thursday, January 22nd. Benchmark reissued an “overweight” rating on shares of Revolution Medicines in a research report on Tuesday, February 17th. Finally, UBS Group began coverage on Revolution Medicines in a research note on Friday, February 27th. They set a “buy” rating on the stock. Five equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $78.94.

Revolution Medicines 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.