Victory Capital Management Inc. cut its position in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 1.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,875 shares of the biopharmaceutical company’s stock after selling 650 shares during the quarter. Victory Capital Management Inc. owned approximately 0.12% of Revance Therapeutics worth $921,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc grew its holdings in shares of Revance Therapeutics by 8.1% during the second quarter. Legal & General Group Plc now owns 5,815 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 438 shares in the last quarter. American International Group Inc. grew its holdings in shares of Revance Therapeutics by 7.1% during the first quarter. American International Group Inc. now owns 12,590 shares of the biopharmaceutical company’s stock worth $262,000 after buying an additional 834 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Revance Therapeutics by 5.9% during the first quarter. Parametric Portfolio Associates LLC now owns 27,401 shares of the biopharmaceutical company’s stock worth $570,000 after buying an additional 1,524 shares in the last quarter. Teachers Advisors LLC grew its holdings in Revance Therapeutics by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 33,722 shares of the biopharmaceutical company’s stock valued at $698,000 after purchasing an additional 1,650 shares during the period. Finally, Bank of America Corp DE grew its holdings in Revance Therapeutics by 29.5% in the first quarter. Bank of America Corp DE now owns 7,247 shares of the biopharmaceutical company’s stock valued at $151,000 after purchasing an additional 1,651 shares during the period. Institutional investors and hedge funds own 89.32% of the company’s stock.
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A number of equities research analysts recently issued reports on the stock. BidaskClub upgraded shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Zacks Investment Research downgraded shares of Revance Therapeutics from a “buy” rating to a “hold” rating in a report on Friday. Cantor Fitzgerald restated a “buy” rating and issued a $50.00 target price on shares of Revance Therapeutics in a report on Wednesday, September 6th. JMP Securities assumed coverage on shares of Revance Therapeutics in a report on Tuesday, August 22nd. They issued an “outperform” rating and a $34.00 target price for the company. Finally, Aegis restated a “buy” rating and issued a $36.00 target price (up from $28.00) on shares of Revance Therapeutics in a report on Friday, May 19th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $35.20.
In other news, CEO L Daniel Browne sold 22,800 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $22.76, for a total value of $518,928.00. Following the transaction, the chief executive officer now owns 178,850 shares in the company, valued at approximately $4,070,626. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 18.86% of the stock is owned by corporate insiders.
Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) opened at 24.60 on Friday. The stock’s market capitalization is $758.15 million. The company has a 50-day moving average of $23.69 and a 200-day moving average of $22.49. Revance Therapeutics, Inc. has a 12-month low of $12.35 and a 12-month high of $28.30.
Revance Therapeutics (NASDAQ:RVNC) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.93) by $0.03. The company had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.05 million. Revance Therapeutics had a negative return on equity of 55.21% and a negative net margin of 32,936.67%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.88) EPS. Equities analysts expect that Revance Therapeutics, Inc. will post ($3.77) earnings per share for the current fiscal year.
Revance Therapeutics Company Profile
Revance Therapeutics, Inc is a clinical-stage biotechnology company. The Company is focused on the development, manufacturing and commercialization of botulinum toxin products for multiple aesthetic and therapeutic indications. Its peptide technology enables delivery of botulinum toxin type A through two investigational drug product candidates, DaxibotulinumtoxinA for Injection (RT002), or RT002 injectable, and DaxibotulinumtoxinA Topical Gel (RT001), or RT001 topical.
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