LMR Partners LLP Acquires New Shares in Revance Therapeutics, Inc. (NASDAQ:RVNC)

LMR Partners LLP acquired a new stake in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,244,400 shares of the biopharmaceutical company’s stock, valued at approximately $11,648,000. LMR Partners LLP owned about 2.14% of Revance Therapeutics at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Capital World Investors lifted its position in shares of Revance Therapeutics by 16.8% in the first quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock worth $68,612,000 after buying an additional 2,006,459 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Revance Therapeutics by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock worth $26,560,000 after purchasing an additional 328,781 shares during the last quarter. Stonepine Capital Management LLC lifted its position in shares of Revance Therapeutics by 41.7% during the 2nd quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $7,196,000 after purchasing an additional 823,658 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Revance Therapeutics by 43.0% during the 2nd quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock worth $5,750,000 after purchasing an additional 672,803 shares during the last quarter. Finally, Opaleye Management Inc. acquired a new position in shares of Revance Therapeutics during the 1st quarter worth about $3,862,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Revance Therapeutics Price Performance

NASDAQ RVNC opened at $4.17 on Monday. The firm has a market cap of $437.44 million, a PE ratio of -2.16 and a beta of 0.95. Revance Therapeutics, Inc. has a one year low of $2.30 and a one year high of $9.74. The stock’s 50 day simple moving average is $5.41 and its 200 day simple moving average is $4.44.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The business had revenue of $59.88 million during the quarter, compared to analysts’ expectations of $67.73 million. As a group, equities analysts expect that Revance Therapeutics, Inc. will post -1.54 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a research report on Friday, November 8th. William Blair restated a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Piper Sandler lowered Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Guggenheim restated a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $6.60 price objective on shares of Revance Therapeutics in a research note on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Revance Therapeutics presently has an average rating of “Hold” and a consensus price target of $9.66.

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.