Voya Investment Management LLC purchased a new stake in Revance Therapeutics, Inc. (NASDAQ:RVNC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,392 shares of the biopharmaceutical company’s stock, valued at approximately $274,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of America Corp DE raised 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 acquiring an additional 1,651 shares in the last quarter. Legal & General Group Plc raised its holdings in Revance Therapeutics by 8.1% in the second quarter. Legal & General Group Plc now owns 5,815 shares of the biopharmaceutical company’s stock valued at $152,000 after acquiring an additional 438 shares in the last quarter. Trexquant Investment LP acquired a new stake in Revance Therapeutics in the second quarter valued at $231,000. American International Group Inc. raised its holdings in Revance Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 12,590 shares of the biopharmaceutical company’s stock valued at $262,000 after acquiring an additional 834 shares in the last quarter. Finally, State of Wisconsin Investment Board acquired a new stake in Revance Therapeutics in the second quarter valued at $475,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Mark J. Foley acquired 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were acquired at an average price of $26.96 per share, with a total value of $539,200.00. Following the acquisition, the director now directly owns 6,000 shares in the company, valued at $161,760. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO L Daniel Browne sold 22,800 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $22.76, for a total transaction of $518,928.00. Following the completion of the sale, the chief executive officer now directly owns 178,850 shares in the company, valued at approximately $4,070,626. The disclosure for this sale can be found here. Insiders have sold 59,226 shares of company stock worth $1,464,618 over the last three months. 18.86% of the stock is owned by corporate insiders.
RVNC has been the topic of a number of research reports. Zacks Investment Research raised shares of Revance Therapeutics from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Wednesday, August 30th. Cantor Fitzgerald reissued a “buy” rating and set a $50.00 target price on shares of Revance Therapeutics in a report on Tuesday, September 26th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $28.00 target price on shares of Revance Therapeutics in a report on Friday, October 27th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Revance Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $35.20.
Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) opened at $24.95 on Thursday. Revance Therapeutics, Inc. has a twelve month low of $15.85 and a twelve month high of $28.75.
Revance Therapeutics (NASDAQ:RVNC) last issued its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.95) by ($0.06). The business had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.05 million. Revance Therapeutics had a negative return on equity of 67.85% and a negative net margin of 37,161.00%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the company posted ($0.64) earnings per share. sell-side analysts anticipate that Revance Therapeutics, Inc. will post -3.73 earnings per share for the current year.
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About Revance Therapeutics
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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