Royal Capital Wealth Management LLC purchased a new position in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,875 shares of the biopharmaceutical company’s stock, valued at approximately $221,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Revance Therapeutics by 3.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,327 shares of the biopharmaceutical company’s stock worth $461,000 after buying an additional 456 shares during the last quarter. Baird Financial Group Inc. lifted its position in Revance Therapeutics by 0.9% during the fourth quarter. Baird Financial Group Inc. now owns 59,560 shares of the biopharmaceutical company’s stock worth $1,100,000 after acquiring an additional 516 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Revance Therapeutics by 15.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,992 shares of the biopharmaceutical company’s stock worth $92,000 after acquiring an additional 677 shares during the period. Metropolitan Life Insurance Co NY grew its position in shares of Revance Therapeutics by 15.7% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 4,992 shares of the biopharmaceutical company’s stock valued at $92,000 after purchasing an additional 677 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Revance Therapeutics by 4.2% during the first quarter. Arizona State Retirement System now owns 23,839 shares of the biopharmaceutical company’s stock worth $768,000 after purchasing an additional 953 shares during the period. Institutional investors own 93.28% of the company’s stock.
Analysts Set New Price Targets
RVNC has been the subject of several recent research reports. Mizuho boosted their price target on Revance Therapeutics from $33.00 to $35.00 in a research note on Wednesday, June 7th. StockNews.com began coverage on shares of Revance Therapeutics in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Morgan Stanley dropped their price objective on shares of Revance Therapeutics from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 9th. Piper Sandler increased their target price on shares of Revance Therapeutics from $39.00 to $50.00 in a research report on Wednesday, May 10th. Finally, BNP Paribas upgraded shares of Revance Therapeutics from an “underperform” rating to a “neutral” rating and set a $20.00 price target for the company in a research report on Wednesday, August 16th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.
Revance Therapeutics Price Performance
Shares of NASDAQ RVNC traded down $0.64 during trading hours on Thursday, hitting $16.27. 408,712 shares of the stock were exchanged, compared to its average volume of 1,423,684. The company’s fifty day simple moving average is $21.21 and its two-hundred day simple moving average is $27.96. The company has a market cap of $1.43 billion, a PE ratio of -3.73 and a beta of 0.80. The company has a debt-to-equity ratio of 14.20, a quick ratio of 4.65 and a current ratio of 5.12. Revance Therapeutics, Inc. has a 1-year low of $16.14 and a 1-year high of $37.98.
Revance Therapeutics (NASDAQ:RVNC – Get Free Report) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.08). Revance Therapeutics had a negative return on equity of 903.28% and a negative net margin of 191.93%. The business had revenue of $58.13 million for the quarter, compared to the consensus estimate of $58.71 million. During the same quarter in the previous year, the company earned ($0.88) earnings per share. The firm’s revenue for the quarter was up 104.9% on a year-over-year basis. On average, sell-side analysts predict that Revance Therapeutics, Inc. will post -2.8 EPS for the current year.
Insider Buying and Selling
In other news, CFO Tobin Schilke sold 1,701 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $25.04, for a total value of $42,593.04. Following the sale, the chief financial officer now directly owns 79,896 shares in the company, valued at approximately $2,000,595.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Revance Therapeutics news, CFO Tobin Schilke sold 1,701 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $25.04, for a total transaction of $42,593.04. Following the sale, the chief financial officer now owns 79,896 shares of the company’s stock, valued at $2,000,595.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carey Oconnor Kolaja sold 2,500 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $28.24, for a total value of $70,600.00. Following the completion of the transaction, the director now owns 16,561 shares of the company’s stock, valued at $467,682.64. The disclosure for this sale can be found here. Insiders sold a total of 93,038 shares of company stock worth $2,476,699 in the last ninety days. 5.10% of the stock is owned by insiders.
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 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.
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