AlphaCrest Capital Management LLC Has $476,000 Position in Revance Therapeutics, Inc. (NASDAQ:RVNC)

AlphaCrest Capital Management LLC reduced its stake in Revance Therapeutics, Inc. (NASDAQ:RVNC – Get Rating) by 23.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,642 shares of the biopharmaceutical company’s stock after selling 5,398 shares during the period. AlphaCrest Capital Management LLC’s holdings in Revance Therapeutics were worth $476,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. ProShare Advisors LLC grew its stake in shares of Revance Therapeutics by 3.8% in the third quarter. ProShare Advisors LLC now owns 14,057 shares of the biopharmaceutical company’s stock valued at $379,000 after acquiring an additional 516 shares in the last quarter. Amalgamated Bank grew its stake in shares of Revance Therapeutics by 5.0% in the third quarter. Amalgamated Bank now owns 11,607 shares of the biopharmaceutical company’s stock valued at $313,000 after acquiring an additional 555 shares in the last quarter. Guggenheim Capital LLC grew its stake in shares of Revance Therapeutics by 2.9% in the first quarter. Guggenheim Capital LLC now owns 36,805 shares of the biopharmaceutical company’s stock valued at $718,000 after acquiring an additional 1,043 shares in the last quarter. Advisor Group Holdings Inc. grew its stake in shares of Revance Therapeutics by 60.6% in the first quarter. Advisor Group Holdings Inc. now owns 2,838 shares of the biopharmaceutical company’s stock valued at $56,000 after acquiring an additional 1,071 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Revance Therapeutics by 54.1% in the third quarter. Tower Research Capital LLC TRC now owns 5,214 shares of the biopharmaceutical company’s stock valued at $141,000 after acquiring an additional 1,831 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RVNC has been the topic of several research reports. Morgan Stanley upped their price target on shares of Revance Therapeutics from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 24th. Guggenheim upped their price objective on shares of Revance Therapeutics to $36.00 in a research report on Tuesday, November 15th. StockNews.com raised shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, March 5th. HC Wainwright reaffirmed a “buy” rating and set a $42.00 price objective on shares of Revance Therapeutics in a research report on Wednesday, March 1st. Finally, Piper Sandler upped their price objective on shares of Revance Therapeutics from $29.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 31st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $40.09.

Revance Therapeutics Stock Performance

RVNC stock opened at $30.97 on Friday. The company has a debt-to-equity ratio of 30.11, a current ratio of 4.95 and a quick ratio of 4.71. Revance Therapeutics, Inc. has a 12 month low of $11.27 and a 12 month high of $36.61. The firm has a 50-day moving average price of $30.63 and a 200-day moving average price of $25.76.

Revance Therapeutics (NASDAQ:RVNC – Get Rating) last posted its earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.78). Revance Therapeutics had a negative return on equity of 786.70% and a negative net margin of 268.87%. The company had revenue of $49.90 million during the quarter, compared to the consensus estimate of $45.10 million. During the same period last year, the company posted ($0.93) EPS. The firm’s revenue was up 92.7% compared to the same quarter last year. Research analysts expect that Revance Therapeutics, Inc. will post -2.78 EPS for the current year.

Insider Activity

In other news, SVP Dwight Moxie sold 18,496 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $31.59, for a total value of $584,288.64. Following the completion of the transaction, the senior vice president now owns 55,547 shares of the company’s stock, valued at $1,754,729.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Revance Therapeutics news, President Dustin S. Sjuts sold 21,508 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $31.59, for a total transaction of $679,437.72. Following the completion of the sale, the president now owns 123,934 shares of the company’s stock, valued at approximately $3,915,075.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Dwight Moxie sold 18,496 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $31.59, for a total transaction of $584,288.64. Following the sale, the senior vice president now directly owns 55,547 shares of the company’s stock, valued at approximately $1,754,729.73. The disclosure for this sale can be found here. Insiders sold 140,014 shares of company stock valued at $4,421,806 over the last quarter. 5.10% of the stock is owned by company insiders.

About Revance Therapeutics

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Revance Therapeutics, Inc is a clinical stage biotechnology company, which engages in the development, manufacturing, and commercialization of novel botulinum toxin products for multiple aesthetic and therapeutic applications. The firm focuses on production of daxibotulinumtoxinA, a botulinum toxin, for aesthetic and therapeutic indications including facial wrinkles and muscle movement disorders.