Tema ETFs LLC Reduces Holdings in Revolution Medicines, Inc. $RVMD

Tema ETFs LLC trimmed its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 26.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,735 shares of the company’s stock after selling 26,443 shares during the quarter. Tema ETFs LLC’s holdings in Revolution Medicines were worth $13,435,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Contravisory Investment Management Inc. purchased a new position in shares of Revolution Medicines during the 2nd quarter worth $32,000. Global Retirement Partners LLC raised its holdings in Revolution Medicines by 1,002.8% in the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after purchasing an additional 361 shares during the period. Torren Management LLC purchased a new position in Revolution Medicines during the fourth quarter valued at $33,000. Arax Advisory Partners bought a new stake in Revolution Medicines during the fourth quarter valued at about $38,000. Finally, Allworth Financial LP increased its position in Revolution Medicines by 57.2% in the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock worth $46,000 after buying an additional 210 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on RVMD shares. Piper Sandler raised their price objective on Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Royal Bank Of Canada raised their target price on shares of Revolution Medicines from $182.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Guggenheim upped their price target on shares of Revolution Medicines from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Friday, July 17th. Finally, Needham & Company LLC lifted their target price on shares of Revolution Medicines from $236.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Revolution Medicines currently has an average rating of “Moderate Buy” and an average target price of $161.79.

Insider Transactions at Revolution Medicines

In related news, insider Stephen Michael Kelsey sold 4,175 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $651,801.00. Following the completion of the transaction, the insider owned 291,876 shares of the company’s stock, valued at approximately $45,567,681.12. This trade represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Margaret A. Horn sold 29,600 shares of Revolution Medicines stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total value of $4,739,552.00. Following the completion of the transaction, the chief operating officer owned 154,647 shares of the company’s stock, valued at approximately $24,762,077.64. This represents a 16.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 132,497 shares of company stock worth $21,470,486. 7.60% of the stock is currently owned by corporate insiders.

Revolution Medicines Stock Down 0.7%

Shares of RVMD opened at $205.55 on Wednesday. The stock has a market capitalization of $44.06 billion, a price-to-earnings ratio of -23.30 and a beta of 1.39. Revolution Medicines, Inc. has a 1 year low of $34.21 and a 1 year high of $208.76. The business’s 50 day simple moving average is $178.61 and its 200-day simple moving average is $138.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period in the prior year, the company posted ($1.31) EPS. As a group, equities analysts expect that Revolution Medicines, Inc. will post -8.65 earnings per share for the current fiscal year.

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.