Perceptive Advisors LLC bought a new stake in Revance Therapeutics Inc (NASDAQ:RVNC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 400,000 shares of the biopharmaceutical company’s stock, valued at approximately $14,300,000. Perceptive Advisors LLC owned about 1.12% of Revance Therapeutics as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of RVNC. SG Americas Securities LLC purchased a new stake in Revance Therapeutics in the third quarter valued at approximately $144,000. Teacher Retirement System of Texas purchased a new stake in Revance Therapeutics in the 4th quarter worth approximately $255,000. Voya Investment Management LLC purchased a new stake in Revance Therapeutics in the 2nd quarter worth approximately $274,000. Quinn Opportunity Partners LLC purchased a new stake in Revance Therapeutics in the 4th quarter worth approximately $325,000. Finally, Two Sigma Advisers LP purchased a new stake in Revance Therapeutics in the 4th quarter worth approximately $343,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.
Revance Therapeutics Inc (RVNC) opened at $32.75 on Monday. The firm has a market capitalization of $1,201.43, a P/E ratio of -8.21 and a beta of 1.36. Revance Therapeutics Inc has a 52 week low of $18.00 and a 52 week high of $37.45.
Several equities research analysts have commented on RVNC shares. ValuEngine lowered Revance Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, December 4th. Guggenheim lowered Revance Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Piper Jaffray Companies upped their price objective on Revance Therapeutics from $28.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 5th. Zacks Investment Research lowered Revance Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, February 14th. Finally, Cantor Fitzgerald set a $50.00 price objective on Revance Therapeutics and gave the stock a “buy” rating in a research report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $45.45.
In other news, CFO Lauren P. Silvernail sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $31.50, for a total transaction of $315,000.00. Following the completion of the transaction, the chief financial officer now directly owns 82,954 shares of the company’s stock, valued at approximately $2,613,051. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO L Daniel Browne sold 27,283 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $31.43, for a total value of $857,504.69. Following the transaction, the chief executive officer now directly owns 131,208 shares of the company’s stock, valued at $4,123,867.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,283 shares of company stock valued at $1,812,505. Corporate insiders own 18.86% of the company’s stock.
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Revance Therapeutics Profile
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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