Capital World Investors Grows Stake in Revance Therapeutics, Inc. (NASDAQ:RVNC)

Capital World Investors grew its holdings in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 16.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,945,535 shares of the biopharmaceutical company’s stock after buying an additional 2,006,459 shares during the period. Capital World Investors owned 0.13% of Revance Therapeutics worth $68,612,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Clarity Capital Partners LLC purchased a new position in Revance Therapeutics during the 1st quarter valued at $59,000. Tower Research Capital LLC TRC raised its stake in Revance Therapeutics by 626.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,823 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 5,884 shares in the last quarter. Quest Partners LLC purchased a new stake in Revance Therapeutics in the fourth quarter worth about $84,000. China Universal Asset Management Co. Ltd. boosted its position in Revance Therapeutics by 67.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 16,981 shares of the biopharmaceutical company’s stock valued at $84,000 after acquiring an additional 6,826 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new position in shares of Revance Therapeutics during the 4th quarter worth approximately $93,000. Institutional investors own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

RVNC has been the subject of a number of research analyst reports. Piper Sandler restated an “overweight” rating and issued a $11.00 target price (down previously from $20.00) on shares of Revance Therapeutics in a research note on Friday, May 10th. Needham & Company LLC decreased their price objective on Revance Therapeutics from $18.00 to $12.00 and set a “buy” rating for the company in a report on Friday, May 10th. HC Wainwright dropped their target price on shares of Revance Therapeutics from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, May 13th. The Goldman Sachs Group reduced their target price on shares of Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. Finally, Mizuho lowered their price target on shares of Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $11.50.

Revance Therapeutics Price Performance

NASDAQ RVNC opened at $3.92 on Friday. Revance Therapeutics, Inc. has a 12 month low of $2.30 and a 12 month high of $24.87. The stock’s fifty day moving average price is $3.03 and its 200-day moving average price is $4.31.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.12. The firm had revenue of $51.94 million for the quarter, compared to analysts’ expectations of $55.64 million. On average, equities research analysts forecast that Revance Therapeutics, Inc. will post -1.83 earnings per share for the current year.

Revance Therapeutics Company Profile

Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacture, and commercialization of neuromodulators for various aesthetic and therapeutic indications in the United States and internationally. The company's lead drug candidate is DAXXIFY (DaxibotulinumtoxinA-lanm) for injection for the treatment of glabellar lines and cervical dystonia; has completed phase II clinical trials to treat upper facial lines, moderate or severe dynamic forehead lines, and moderate or severe lateral canthal lines; and has completed Phase II clinical trials for the treatment of adult upper limb spasticity and plantar fasciitis.