JPMorgan Chase & Co. Sells 471,869 Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC)

by · The Markets Daily

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JPMorgan Chase & Co. cut its stake in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC – Free Report) by 9.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,693,888 shares of the biopharmaceutical company’s stock after selling 471,869 shares during the quarter. JPMorgan Chase & Co. owned about 5.34% of Revance Therapeutics worth $118,802,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. International Biotechnology Trust PLC increased its stake in Revance Therapeutics by 57.8% during the 2nd quarter. International Biotechnology Trust PLC now owns 288,726 shares of the biopharmaceutical company’s stock valued at $7,299,000 after purchasing an additional 105,726 shares in the last quarter. New England Research & Management Inc. purchased a new position in Revance Therapeutics in the 2nd quarter worth approximately $225,000. Integral Health Asset Management LLC lifted its position in Revance Therapeutics by 4.2% in the 1st quarter. Integral Health Asset Management LLC now owns 250,000 shares of the biopharmaceutical company’s stock valued at $8,052,000 after acquiring an additional 10,000 shares in the last quarter. Blair William & Co. IL boosted its stake in Revance Therapeutics by 144.5% during the 1st quarter. Blair William & Co. IL now owns 306,877 shares of the biopharmaceutical company’s stock valued at $9,885,000 after purchasing an additional 181,372 shares during the last quarter. Finally, DNB Asset Management AS boosted its stake in Revance Therapeutics by 51.6% during the 2nd quarter. DNB Asset Management AS now owns 21,775 shares of the biopharmaceutical company’s stock valued at $551,000 after purchasing an additional 7,410 shares during the last quarter. Hedge funds and other institutional investors own 93.28% of the company’s stock.

Revance Therapeutics Stock Performance

Shares of NASDAQ:RVNC opened at $7.06 on Wednesday. Revance Therapeutics, Inc. has a 1-year low of $5.72 and a 1-year high of $37.98. The firm’s 50 day simple moving average is $8.99 and its two-hundred day simple moving average is $18.62. The company has a quick ratio of 4.17, a current ratio of 4.73 and a debt-to-equity ratio of 14.20.

Revance Therapeutics (NASDAQ:RVNC – Get Free Report) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.28. Revance Therapeutics had a negative net margin of 193.42% and a negative return on equity of 903.28%. The company had revenue of $56.78 million for the quarter, compared to analysts’ expectations of $58.49 million. On average, research analysts anticipate that Revance Therapeutics, Inc. will post -3.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Barclays decreased their price target on Revance Therapeutics from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Monday, October 23rd. BNP Paribas raised shares of Revance Therapeutics from an “underperform” rating to a “neutral” rating and set a $20.00 price target on the stock in a report on Wednesday, August 16th. HC Wainwright reduced their price target on shares of Revance Therapeutics from $41.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, November 6th. StockNews.com assumed coverage on shares of Revance Therapeutics in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Needham & Company LLC cut their target price on shares of Revance Therapeutics from $35.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $25.33.

Check Out Our Latest Analysis on Revance Therapeutics

Insiders Place Their Bets

In other news, SVP Dwight Moxie sold 23,853 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $17.81, for a total transaction of $424,821.93. Following the completion of the transaction, the senior vice president now owns 55,066 shares in the company, valued at $980,725.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.60% of the company’s stock.

Revance Therapeutics Company Profile

(Free Report)

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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