Revance Therapeutics Inc (RVNC) Holdings Lowered by JPMorgan Chase & Co.
JPMorgan Chase & Co. trimmed its stake in shares of Revance Therapeutics Inc (NASDAQ:RVNC) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,546,267 shares of the biopharmaceutical company’s stock after selling 80,336 shares during the quarter. JPMorgan Chase & Co. owned about 11.47% of Revance Therapeutics worth $96,635,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in RVNC. Franklin Resources Inc. raised its position in shares of Revance Therapeutics by 13.1% during the 2nd quarter. Franklin Resources Inc. now owns 3,375,238 shares of the biopharmaceutical company’s stock worth $89,106,000 after buying an additional 391,638 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Revance Therapeutics during the 2nd quarter worth about $9,990,000. Bank of New York Mellon Corp raised its position in shares of Revance Therapeutics by 14.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,079,562 shares of the biopharmaceutical company’s stock worth $54,901,000 after buying an additional 261,764 shares in the last quarter. PointState Capital LP raised its position in shares of Revance Therapeutics by 58.5% during the 2nd quarter. PointState Capital LP now owns 438,200 shares of the biopharmaceutical company’s stock worth $11,568,000 after buying an additional 161,700 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Revance Therapeutics by 7.3% during the 2nd quarter. Vanguard Group Inc. now owns 931,623 shares of the biopharmaceutical company’s stock worth $24,595,000 after buying an additional 63,505 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.
In other news, Director Mark J. Foley purchased 20,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were acquired at an average price of $26.96 per share, for a total transaction of $539,200.00. Following the completion of the acquisition, the director now directly owns 6,000 shares of the company’s stock, valued at $161,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Lauren P. Silvernail sold 11,164 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $26.67, for a total transaction of $297,743.88. The disclosure for this sale can be found here. Insiders have sold 44,026 shares of company stock worth $1,135,234 in the last 90 days. 18.86% of the stock is owned by company insiders.
Shares of Revance Therapeutics Inc (NASDAQ:RVNC) opened at $26.00 on Tuesday. Revance Therapeutics Inc has a fifty-two week low of $15.85 and a fifty-two week high of $28.75.
Revance Therapeutics (NASDAQ:RVNC) last released its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.06). Revance Therapeutics had a negative return on equity of 67.85% and a negative net margin of 37,161.00%. The business had revenue of $0.08 million during the quarter, compared to the consensus estimate of $0.05 million. During the same quarter in the previous year, the firm earned ($0.64) earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. sell-side analysts predict that Revance Therapeutics Inc will post -3.73 earnings per share for the current fiscal year.
A number of analysts recently commented on RVNC shares. BidaskClub upgraded shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 18th. ValuEngine downgraded shares of Revance Therapeutics from a “hold” rating to a “sell” rating in a report on Monday. Cantor Fitzgerald reiterated a “buy” rating and issued a $50.00 target price on shares of Revance Therapeutics in a report on Wednesday, September 6th. JMP Securities started coverage on shares of Revance Therapeutics in a report on Tuesday, August 22nd. They issued an “outperform” rating and a $34.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Revance Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $34.86.
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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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