Revolution Medicines hits 52-week high amid mixed analyst ratings

Revolution Medicines, Inc. (NASDAQ: RVMD) reached a new 52-week high, with shares trading as high as $208.76. Despite the price increase, the company recently reported quarterly earnings per share of ($3.06), missing analyst estimates of ($2.04). Various analysts have provided mixed ratings, including “outperform” from Evercore and Wedbush, while Weiss Ratings issued a “sell (d-)” rating.

In separate market activity, Bank of America Corp DE reduced its position in Globus Medical, Inc. (NYSE: GMED) by 8.0% during the first quarter. Following this reduction, the fund held 697,572 shares valued at approximately $60.1 million. Other institutional investors, including AQR Capital Management LLC and UBS Asset Management Americas LLC, increased their holdings in the medical device company during the same period.