DnB Asset Management AS Buys 7,410 Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC)

Posted by Defense World Staff on Sep 20th, 2023

DnB Asset Management AS raised its stake in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC – Free Report) by 51.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,775 shares of the biopharmaceutical company’s stock after purchasing an additional 7,410 shares during the period. DnB Asset Management AS’s holdings in Revance Therapeutics were worth $551,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New England Research & Management Inc. bought a new position in shares of Revance Therapeutics during the 2nd quarter valued at about $225,000. Integral Health Asset Management LLC boosted its holdings in shares of Revance Therapeutics by 4.2% during the 1st quarter. Integral Health Asset Management LLC now owns 250,000 shares of the biopharmaceutical company’s stock valued at $8,052,000 after purchasing an additional 10,000 shares during the last quarter. Blair William & Co. IL lifted its holdings in shares of Revance Therapeutics by 144.5% in the 1st quarter. Blair William & Co. IL now owns 306,877 shares of the biopharmaceutical company’s stock valued at $9,885,000 after acquiring an additional 181,372 shares during the last quarter. Yarbrough Capital LLC bought a new position in shares of Revance Therapeutics in the 1st quarter valued at about $393,000. Finally, Picton Mahoney Asset Management lifted its holdings in shares of Revance Therapeutics by 62.8% in the 4th quarter. Picton Mahoney Asset Management now owns 99,980 shares of the biopharmaceutical company’s stock valued at $1,844,000 after acquiring an additional 38,580 shares during the last quarter. Institutional investors own 93.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RVNC shares. Mizuho increased their price target on shares of Revance Therapeutics from $33.00 to $35.00 in a report on Wednesday, June 7th. Morgan Stanley lowered their price target on shares of Revance Therapeutics from $26.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, August 9th. HC Wainwright reaffirmed a “buy” rating and issued a $41.00 price target on shares of Revance Therapeutics in a report on Tuesday, August 15th. StockNews.com started coverage on shares of Revance Therapeutics in a report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, BNP Paribas raised shares of Revance Therapeutics from an “underperform” rating to a “neutral” rating and set a $20.00 price target for the company in a report on Wednesday, August 16th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.00.

Read Our Latest Stock Report on Revance Therapeutics

Revance Therapeutics Stock Down 17.3 %

Shares of NASDAQ RVNC opened at $13.81 on Wednesday. The company has a debt-to-equity ratio of 14.20, a current ratio of 5.12 and a quick ratio of 4.65. The company has a market cap of $1.21 billion, a P/E ratio of -3.05 and a beta of 0.80. Revance Therapeutics, Inc. has a 1 year low of $11.10 and a 1 year high of $37.98. The firm has a 50-day simple moving average of $19.66 and a two-hundred day simple moving average of $26.83.

Revance Therapeutics (NASDAQ:RVNC – Get Free Report) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.08). The firm had revenue of $58.13 million during the quarter, compared to the consensus estimate of $58.71 million. Revance Therapeutics had a negative return on equity of 903.28% and a negative net margin of 191.93%. The firm’s revenue for the quarter was up 104.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.88) EPS. Research analysts anticipate that Revance Therapeutics, Inc. will post -2.8 earnings per share for the current year.

Insider Transactions at Revance Therapeutics

In other news, SVP Dwight Moxie sold 23,853 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $17.81, for a total transaction of $424,821.93. Following the transaction, the senior vice president now directly owns 55,066 shares of the company’s stock, valued at $980,725.46. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Dwight Moxie sold 23,853 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $17.81, for a total transaction of $424,821.93. Following the transaction, the senior vice president now directly owns 55,066 shares of the company’s stock, valued at $980,725.46. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark J. Foley sold 26,279 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $22.57, for a total transaction of $593,117.03. Following the transaction, the chief executive officer now directly owns 840,375 shares in the company, valued at $18,967,263.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,112 shares of company stock valued at $1,715,930. 3.60% of the stock is currently owned by company insiders.

Revance Therapeutics Profile

(Free Report)

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 DaxibotulinumtoxinA for injection, which has completed phase III clinical trials for the treatment of glabellar (frown) lines and cervical dystonia; is in 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.