Alps Advisors Inc. Boosts Position in Revance Therapeutics, Inc. (RVNC)
Alps Advisors Inc. boosted its stake in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 11.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,324 shares of the biopharmaceutical company’s stock after buying an additional 2,793 shares during the period. Alps Advisors Inc. owned 0.09% of Revance Therapeutics worth $721,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its position in Revance Therapeutics by 5.7% in the fourth quarter. State Street Corp now owns 325,148 shares of the biopharmaceutical company’s stock valued at $6,729,000 after buying an additional 17,410 shares during the period. Teachers Advisors LLC boosted its stake 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 buying an additional 1,650 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its stake in Revance Therapeutics by 82.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 122,000 shares of the biopharmaceutical company’s stock valued at $2,538,000 after buying an additional 55,000 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Revance Therapeutics during the first quarter valued at approximately $735,000. Finally, Essex Investment Management Co. LLC boosted its stake in Revance Therapeutics by 8.2% in the first quarter. Essex Investment Management Co. LLC now owns 98,684 shares of the biopharmaceutical company’s stock valued at $2,053,000 after buying an additional 7,456 shares in the last quarter. Institutional investors and hedge funds own 87.94% of the company’s stock.
Shares of Revance Therapeutics, Inc. (RVNC) opened at 23.15 on Friday. The firm’s market cap is $713.46 million. The company has a 50 day moving average price of $23.99 and a 200 day moving average price of $22.04. Revance Therapeutics, Inc. has a 12-month low of $12.35 and a 12-month high of $28.30.
Revance Therapeutics (NASDAQ:RVNC) last posted its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.93) by $0.03. Revance Therapeutics had a negative return on equity of 55.21% and a negative net margin of 32,936.67%. The firm had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.05 million. During the same quarter in the prior year, the company earned ($0.88) EPS. Revance Therapeutics’s revenue was up .0% on a year-over-year basis. On average, analysts forecast that Revance Therapeutics, Inc. will post ($3.75) earnings per share for the current fiscal year.
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Several research firms recently commented on RVNC. BidaskClub cut Revance Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Zacks Investment Research cut Revance Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Piper Jaffray Companies set a $28.00 price target on Revance Therapeutics and gave the company a “buy” rating in a report on Wednesday, July 26th. ValuEngine raised Revance Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Finally, Aegis reaffirmed a “buy” rating and issued a $36.00 price target on shares of Revance Therapeutics in a report on Thursday, June 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $35.00.
In related news, CFO Lauren P. Silvernail sold 1,793 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $20.20, for a total value of $36,218.60. Following the sale, the chief financial officer now owns 36,566 shares of the company’s stock, valued at approximately $738,633.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO L Daniel Browne sold 19,713 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $20.35, for a total value of $401,159.55. Following the completion of the sale, the chief executive officer now directly owns 183,932 shares in the company, valued at approximately $3,743,016.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,793 shares of company stock worth $685,576. 18.86% of the stock is owned by corporate insiders.
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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