Perceptive Advisors LLC acquired a new stake in Revance Therapeutics Inc (NASDAQ:RVNC) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 400,000 shares of the biopharmaceutical company’s stock, valued at approximately $14,300,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of RVNC. SG Americas Securities LLC acquired a new position in Revance Therapeutics in the 3rd quarter valued at $144,000. Teacher Retirement System of Texas acquired a new position in Revance Therapeutics in the 4th quarter valued at $255,000. Voya Investment Management LLC acquired a new position in Revance Therapeutics in the 2nd quarter valued at $274,000. Quinn Opportunity Partners LLC acquired a new position in Revance Therapeutics in the 4th quarter valued at $325,000. Finally, Two Sigma Advisers LP acquired a new position in Revance Therapeutics in the 4th quarter valued at $343,000. 95.14% of the stock is owned by hedge funds and other institutional investors.
RVNC has been the subject of several recent research reports. Cantor Fitzgerald set a $50.00 price objective on Revance Therapeutics and gave the company a “buy” rating in a research note on Wednesday, November 29th. Mizuho reissued a “buy” rating and issued a $54.00 price objective on shares of Revance Therapeutics in a research note on Friday, January 5th. Cowen set a $55.00 price objective on Revance Therapeutics and gave the company a “buy” rating in a research note on Wednesday, January 17th. BidaskClub downgraded Revance Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, February 7th. Finally, Barclays set a $40.00 target price on Revance Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $45.45.
Revance Therapeutics (NASDAQ:RVNC) last issued its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.15). Revance Therapeutics had a negative return on equity of 64.40% and a negative net margin of 46,025.57%. The company had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.09 million. During the same period last year, the business earned ($0.95) earnings per share. The firm’s revenue was down 50.7% compared to the same quarter last year. research analysts predict that Revance Therapeutics Inc will post -3.64 EPS for the current year.
In other news, CFO Lauren P. Silvernail sold 20,000 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $32.00, for a total transaction of $640,000.00. Following the completion of the transaction, the chief financial officer now directly owns 82,954 shares in the company, valued at approximately $2,654,528. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Lauren P. Silvernail sold 10,000 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $31.50, for a total value of $315,000.00. Following the transaction, the chief financial officer now owns 82,954 shares of the company’s stock, valued at $2,613,051. The disclosure for this sale can be found here. Insiders sold a total of 57,283 shares of company stock valued at $1,812,505 over the last ninety days. Corporate insiders own 18.86% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This piece was originally reported by Ticker Report and is owned by of Ticker Report. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international copyright and trademark law. The legal version of this piece can be accessed at https://www.tickerreport.com/banking-finance/3257875/perceptive-advisors-llc-acquires-new-position-in-revance-therapeutics-inc-rvnc.html.
Revance Therapeutics 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.
Want to see what other hedge funds are holding RVNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Revance Therapeutics Inc (NASDAQ:RVNC).
Receive News & Ratings for Revance Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Revance Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.