China Universal Asset Management Co. Ltd. Raises Holdings in Revance Therapeutics, Inc. (NASDAQ:RVNC)

China Universal Asset Management Co. Ltd. boosted its stake in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 64.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,161 shares of the biopharmaceutical company’s stock after acquiring an additional 7,890 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Revance Therapeutics were worth $105,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of RVNC. Capital World Investors increased its holdings in shares of Revance Therapeutics by 16.8% during the 1st quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock valued at $68,612,000 after purchasing an additional 2,006,459 shares in the last quarter. Vanguard Group Inc. increased its holdings in Revance Therapeutics by 6.5% in the first quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock valued at $26,560,000 after buying an additional 328,781 shares in the last quarter. Stonepine Capital Management LLC raised its position in shares of Revance Therapeutics by 41.7% in the second quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $7,196,000 after acquiring an additional 823,658 shares during the period. Federated Hermes Inc. boosted its stake in shares of Revance Therapeutics by 43.0% during the 2nd quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock worth $5,750,000 after acquiring an additional 672,803 shares in the last quarter. Finally, Opaleye Management Inc. acquired a new stake in shares of Revance Therapeutics during the 1st quarter valued at about $3,862,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RVNC has been the subject of a number of analyst reports. HC Wainwright cut Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 13th. Guggenheim reiterated a “neutral” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a report on Monday. Piper Sandler downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. Finally, StockNews.com initiated coverage on shares of Revance Therapeutics in a research report on Friday, October 25th. They issued a “hold” rating on the stock. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Revance Therapeutics currently has an average rating of “Hold” and a consensus target price of $10.29.

Revance Therapeutics Trading Down 0.3 %

NASDAQ:RVNC opened at $5.90 on Friday. Revance Therapeutics, Inc. has a twelve month low of $2.30 and a twelve month high of $9.74. The company has a market cap of $618.46 million, a P/E ratio of -1.85 and a beta of 0.98. The company’s 50-day moving average price is $5.79 and its 200-day moving average price is $4.35.

Revance Therapeutics (NASDAQ:RVNC) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.12. The business had revenue of $65.39 million during the quarter, compared to analysts’ expectations of $66.30 million. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period last year, the business earned ($0.80) earnings per share. On average, analysts expect that Revance Therapeutics, Inc. will post -1.53 earnings per share for the current year.

About Revance Therapeutics

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.