Alpine Associates Management Inc. Makes New $21.61 Million Investment in Revance Therapeutics, Inc. (NASDAQ:RVNC)

Alpine Associates Management Inc. bought a new position in Revance Therapeutics, Inc. (NASDAQ:RVNC - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,162,861 shares of the biopharmaceutical company's stock, valued at approximately $21,605,000. Alpine Associates Management Inc. owned approximately 3.97% of Revance Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LMR Partners LLP acquired a new stake in Revance Therapeutics during the third quarter worth $11,648,000. Accredited Investors Inc. acquired a new position in Revance Therapeutics in the third quarter valued at approximately $67,000. GSA Capital Partners LLP bought a new position in Revance Therapeutics in the third quarter valued at approximately $108,000. Rice Hall James & Associates LLC grew its holdings in Revance Therapeutics by 2.5% during the 3rd quarter. Rice Hall James & Associates LLC now owns 730,190 shares of the biopharmaceutical company's stock worth $3,790,000 after acquiring an additional 18,118 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Revance Therapeutics by 64.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,161 shares of the biopharmaceutical company's stock valued at $105,000 after purchasing an additional 7,890 shares during the period. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on RVNC shares. Piper Sandler downgraded shares of Revance Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday, August 12th. Stifel Nicolaus dropped their price objective on Revance Therapeutics from $24.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Guggenheim reiterated a "neutral" rating on shares of Revance Therapeutics in a research note on Monday, August 12th. StockNews.com started coverage on Revance Therapeutics in a report on Monday. They set a "hold" rating for the company. Finally, HC Wainwright reiterated a "neutral" rating and issued a $6.60 price target on shares of Revance Therapeutics in a research note on Friday, November 8th. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $9.66.

Revance Therapeutics Stock Down 0.5 %

Revance Therapeutics stock traded down $0.02 during mid-day trading on Wednesday, reaching $3.74. 996,164 shares of the company's stock were exchanged, compared to its average volume of 2,753,567. The business's fifty day simple moving average is $5.30 and its 200 day simple moving average is $4.45. Revance Therapeutics, Inc. has a one year low of $2.30 and a one year high of $9.74. The firm has a market capitalization of $392.33 million, a PE ratio of -1.95 and a beta of 0.95.

Revance Therapeutics (NASDAQ:RVNC - Get Free Report) 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 firm had revenue of $59.88 million for the quarter, compared to the consensus estimate of $67.73 million. On average, sell-side analysts forecast that Revance Therapeutics, Inc. will post -1.54 earnings per share for the current year.

Revance Therapeutics 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.