LMR Partners LLP Takes $11.65 Million Position in Revance Therapeutics, Inc. (NASDAQ:RVNC)

LMR Partners LLP acquired a new stake in Revance Therapeutics, Inc. (NASDAQ:RVNC) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 2,244,400 shares of the biopharmaceutical company’s stock, valued at approximately $11,648,000.

A number of other large investors have also made changes to their positions in RVNC. Capital World Investors grew its holdings in shares of Revance Therapeutics by 16.8% in the 1st quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock valued at $68,612,000 after acquiring an additional 2,006,459 shares in the last quarter. Stonepine Capital Management LLC lifted its stake in Revance Therapeutics by 41.7% in the 2nd quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock valued at $7,196,000 after purchasing an additional 823,658 shares during the last quarter. Opaleye Management Inc. acquired a new stake in Revance Therapeutics in the 1st quarter valued at about $3,862,000. Federated Hermes Inc. lifted its stake in Revance Therapeutics by 43.0% in the 2nd quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock valued at $5,750,000 after purchasing an additional 672,803 shares during the last quarter. Finally, Integral Health Asset Management LLC acquired a new stake in Revance Therapeutics in the 2nd quarter valued at about $1,285,000. Institutional investors own 97.70% of the company’s stock.

Revance Therapeutics Price Performance

Revance Therapeutics stock opened at $4.17 on Monday. The stock’s 50 day moving average is $5.41 and its 200 day moving average is $4.44. The firm has a market cap of $437.44 million, a P/E ratio of -2.16 and a beta of 0.95. Revance Therapeutics, Inc. has a one year low of $2.30 and a one year high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The business had revenue of $59.88 million during the quarter, compared to analysts’ expectations of $67.73 million. Equities analysts anticipate that Revance Therapeutics, Inc. will post -1.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RVNC. Barclays reiterated an “equal weight” rating and issued a $7.00 target price (down from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. Piper Sandler downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. Guggenheim restated a “neutral” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a research note on Friday, November 8th. Finally, StockNews.com initiated coverage on Revance Therapeutics in a research note on Monday. They issued a “hold” rating for the company. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.66.

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 DAXXIFY (DaxibotulinumtoxinA-lanm) for injection for the treatment of glabellar lines and cervical dystonia; has completed 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.