Swiss National Bank Buys 4,300 Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC)

Swiss National Bank grew its stake in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC – Get Rating) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 195,850 shares of the biopharmaceutical company’s stock after acquiring an additional 4,300 shares during the quarter. Swiss National Bank owned about 0.24% of Revance Therapeutics worth $3,615,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. boosted its position in shares of Revance Therapeutics by 1,345.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 918,275 shares of the biopharmaceutical company’s stock valued at $24,793,000 after buying an additional 854,755 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of Revance Therapeutics by 225.5% during the third quarter. Two Sigma Investments LP now owns 1,121,823 shares of the biopharmaceutical company’s stock valued at $30,289,000 after buying an additional 777,135 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Revance Therapeutics by 16.5% during the third quarter. Vanguard Group Inc. now owns 4,312,896 shares of the biopharmaceutical company’s stock valued at $116,449,000 after buying an additional 609,841 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Revance Therapeutics by 86.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,094,524 shares of the biopharmaceutical company’s stock valued at $20,205,000 after buying an additional 508,249 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new position in Revance Therapeutics in the third quarter worth about $13,532,000. 82.68% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Dwight Moxie sold 21,401 shares of the business’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $34.55, for a total transaction of $739,404.55. Following the completion of the transaction, the senior vice president now owns 69,165 shares in the company, valued at approximately $2,389,650.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Tobin Schilke sold 3,201 shares of the business’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $33.50, for a total transaction of $107,233.50. Following the completion of the transaction, the chief financial officer now owns 49,390 shares in the company, valued at approximately $1,654,565. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Dwight Moxie sold 21,401 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $34.55, for a total value of $739,404.55. Following the transaction, the senior vice president now owns 69,165 shares of the company’s stock, valued at approximately $2,389,650.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 251,377 shares of company stock valued at $8,283,332. 5.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on RVNC shares. Piper Sandler raised their target price on Revance Therapeutics from $39.00 to $50.00 in a research report on Wednesday, May 10th. Wells Fargo & Company raised their target price on Revance Therapeutics from $22.00 to $30.00 in a research report on Tuesday, March 14th. Morgan Stanley raised their target price on Revance Therapeutics from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 24th. Mizuho raised their target price on Revance Therapeutics from $30.00 to $33.00 in a research report on Wednesday, March 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of Revance Therapeutics in a research report on Wednesday, April 19th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Revance Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $42.36.

Revance Therapeutics Stock Performance

NASDAQ:RVNC opened at $31.82 on Monday. The company has a quick ratio of 3.79, a current ratio of 4.14 and a debt-to-equity ratio of 30.11. Revance Therapeutics, Inc. has a 1 year low of $11.27 and a 1 year high of $37.98. The stock’s 50 day simple moving average is $32.40 and its two-hundred day simple moving average is $28.54.

Revance Therapeutics (NASDAQ:RVNC – Get Rating) last released its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.01. Revance Therapeutics had a negative return on equity of 1,091.00% and a negative net margin of 224.65%. The business had revenue of $49.33 million for the quarter, compared to the consensus estimate of $46.21 million. During the same quarter in the previous year, the company posted ($0.94) EPS. The company’s revenue was up 95.3% compared to the same quarter last year. As a group, analysts anticipate that Revance Therapeutics, Inc. will post -2.78 earnings per share for the current year.

About Revance Therapeutics

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Revance Therapeutics, Inc is a clinical stage biotechnology company, which engages in the development, manufacturing, and commercialization of novel botulinum toxin products for multiple aesthetic and therapeutic applications. The firm focuses on production of daxibotulinumtoxinA, a botulinum toxin, for aesthetic and therapeutic indications including facial wrinkles and muscle movement disorders.