Wellington Management Group LLP Invests $2.32 Million in Revance Therapeutics, Inc. (NASDAQ:RVNC)

Wellington Management Group LLP bought a new stake in Revance Therapeutics, Inc. (NASDAQ:RVNC - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 446,027 shares of the biopharmaceutical company's stock, valued at approximately $2,315,000. Wellington Management Group LLP owned 0.43% of Revance Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in Revance Therapeutics by 2,167.5% during the second quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 18,077 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Revance Therapeutics by 22.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 373,015 shares of the biopharmaceutical company's stock worth $959,000 after acquiring an additional 68,451 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Revance Therapeutics by 47.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,961 shares of the biopharmaceutical company's stock worth $85,000 after acquiring an additional 10,638 shares during the last quarter. Rhumbline Advisers lifted its position in Revance Therapeutics by 11.6% in the 2nd quarter. Rhumbline Advisers now owns 136,347 shares of the biopharmaceutical company's stock valued at $350,000 after acquiring an additional 14,191 shares in the last quarter. Finally, CM Management LLC boosted its stake in Revance Therapeutics by 60.0% during the 2nd quarter. CM Management LLC now owns 400,000 shares of the biopharmaceutical company's stock valued at $1,028,000 after purchasing an additional 150,000 shares during the last quarter. 97.70% of the stock is owned by institutional investors.

Revance Therapeutics Price Performance

Shares of NASDAQ RVNC remained flat at $3.07 during mid-day trading on Thursday. The stock had a trading volume of 3,968,710 shares, compared to its average volume of 2,817,201. The stock has a 50 day moving average price of $4.43 and a 200-day moving average price of $4.48. The firm has a market cap of $322.05 million, a price-to-earnings ratio of -1.59 and a beta of 0.81. Revance Therapeutics, Inc. has a 12 month low of $2.30 and a 12 month high of $9.74.

Revance Therapeutics (NASDAQ:RVNC - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.02). The company had revenue of $59.88 million for the quarter, compared to analyst estimates of $67.73 million. On average, analysts expect that Revance Therapeutics, Inc. will post -1.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Barclays restated an "equal weight" rating and issued a $7.00 target price (down previously from $10.00) on shares of Revance Therapeutics in a report on Friday, September 13th. Mizuho dropped their price objective on Revance Therapeutics from $6.66 to $3.10 and set a "neutral" rating on the stock in a research note on Tuesday, December 10th. Needham & Company LLC reaffirmed a "hold" rating on shares of Revance Therapeutics in a report on Friday, November 8th. StockNews.com initiated coverage on shares of Revance Therapeutics in a research note on Thursday, December 12th. They issued a "hold" rating for the company. Finally, HC Wainwright reissued a "neutral" rating and set a $6.60 price target on shares of Revance Therapeutics in a research report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Revance Therapeutics has an average rating of "Hold" and a consensus price target of $8.96.

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.