Legal & General Group Plc Cuts Position in Revance Therapeutics, Inc. (RVNC)

Legal & General Group Plc lowered its position in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 1.1% during the first quarter, Holdings Channel reports. The institutional investor owned 5,377 shares of the biopharmaceutical company’s stock after selling 60 shares during the period. Legal & General Group Plc’s holdings in Revance Therapeutics were worth $110,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. FMR LLC boosted its stake in shares of Revance Therapeutics by 216.9% in the first quarter. FMR LLC now owns 316,900 shares of the biopharmaceutical company’s stock worth $6,592,000 after buying an additional 216,900 shares in the last quarter. American International Group Inc. boosted its stake in shares of Revance Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 12,590 shares of the biopharmaceutical company’s stock worth $262,000 after buying an additional 834 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Revance Therapeutics during the first quarter worth approximately $739,000. JPMorgan Chase & Co. boosted its stake in shares of Revance Therapeutics by 0.9% in the first quarter. JPMorgan Chase & Co. now owns 3,459,844 shares of the biopharmaceutical company’s stock worth $71,965,000 after buying an additional 29,686 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Revance Therapeutics by 5.9% in the first quarter. Parametric Portfolio Associates LLC now owns 27,401 shares of the biopharmaceutical company’s stock worth $570,000 after buying an additional 1,524 shares in the last quarter. 87.94% of the stock is owned by institutional investors and hedge funds.

Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) traded down 1.28% during mid-day trading on Friday, hitting $23.15. 112,451 shares of the stock were exchanged. The company’s market cap is $713.46 million. Revance Therapeutics, Inc. has a 52-week low of $12.35 and a 52-week high of $28.30. The stock’s 50-day moving average price is $23.99 and its 200-day moving average price is $22.04.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping the consensus estimate of ($0.93) by $0.03. The company had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.05 million. Revance Therapeutics had a negative net margin of 32,936.67% and a negative return on equity of 55.21%. The firm’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.88) EPS. Equities research analysts anticipate that Revance Therapeutics, Inc. will post ($3.75) earnings per share for the current fiscal year.

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A number of analysts have recently issued reports on the stock. BidaskClub raised shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday. Zacks Investment Research raised shares of Revance Therapeutics from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Tuesday. Piper Jaffray Companies set a $28.00 price objective on shares of Revance Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Cantor Fitzgerald assumed coverage on shares of Revance Therapeutics in a research note on Thursday, July 20th. They issued an “overweight” rating and a $50.00 price objective for the company. Finally, ValuEngine raised shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Revance Therapeutics has an average rating of “Buy” and a consensus target price of $35.00.

In related news, CEO L Daniel Browne sold 12,287 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $20.20, for a total value of $248,197.40. Following the completion of the sale, the chief executive officer now owns 183,932 shares of the company’s stock, valued at approximately $3,715,426.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Lauren P. Silvernail sold 1,793 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $20.20, for a total transaction of $36,218.60. Following the completion of the sale, the chief financial officer now directly owns 36,566 shares of the company’s stock, valued at approximately $738,633.20. The disclosure for this sale can be found here. In the last three months, insiders sold 33,793 shares of company stock valued at $685,576. 18.86% of the stock is owned by insiders.

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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