Walleye Capital LLC Reduces Position in Revance Therapeutics, Inc. (NASDAQ:RVNC)

Walleye Capital LLC decreased its position in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 83.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 699,621 shares of the biopharmaceutical company’s stock after selling 3,587,771 shares during the period. Walleye Capital LLC owned 0.67% of Revance Therapeutics worth $3,631,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RVNC. Vanguard Group Inc. raised its position in Revance Therapeutics by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock valued at $26,560,000 after purchasing an additional 328,781 shares during the last quarter. Alpine Associates Management Inc. purchased a new stake in shares of Revance Therapeutics in the third quarter valued at about $21,605,000. Stonepine Capital Management LLC boosted its stake in shares of Revance Therapeutics by 41.7% during the second quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $7,196,000 after buying an additional 823,658 shares during the period. LMR Partners LLP purchased a new position in shares of Revance Therapeutics during the third quarter worth about $11,648,000. Finally, Federated Hermes Inc. increased its position in Revance Therapeutics by 43.0% in the 2nd quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock valued at $5,750,000 after acquiring an additional 672,803 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Revance Therapeutics Stock Up 3.3 %

Shares of NASDAQ RVNC opened at $3.73 on Tuesday. The firm has a 50-day moving average price of $4.89 and a 200 day moving average price of $4.45. Revance Therapeutics, Inc. has a 52 week low of $2.30 and a 52 week high of $9.74. The stock has a market capitalization of $391.28 million, a price-to-earnings ratio of -1.93 and a beta of 0.95.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RVNC. William Blair reiterated a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Stifel Nicolaus lowered their price objective on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. HC Wainwright reissued a “neutral” rating and issued a $6.60 price objective on shares of Revance Therapeutics in a research note on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a research note on Friday, November 8th. Finally, Barclays reiterated an “equal weight” rating and set a $7.00 price target (down from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.