Granahan Investment Management LLC Decreases Stake in Revance Therapeutics, Inc. (NASDAQ:RVNC)

Granahan Investment Management LLC lessened its stake in Revance Therapeutics, Inc. (NASDAQ:RVNC) by 30.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 243,462 shares of the biopharmaceutical company’s stock after selling 104,602 shares during the quarter. Granahan Investment Management LLC owned 0.29% of Revance Therapeutics worth $7,842,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. WASHINGTON TRUST Co purchased a new stake in shares of Revance Therapeutics during the 1st quarter worth approximately $36,000. Signaturefd LLC grew its holdings in Revance Therapeutics by 792.9% in the first quarter. Signaturefd LLC now owns 1,393 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 1,237 shares during the last quarter. IFP Advisors Inc increased its position in shares of Revance Therapeutics by 2,666.7% in the first quarter. IFP Advisors Inc now owns 2,075 shares of the biopharmaceutical company’s stock valued at $60,000 after buying an additional 2,000 shares in the last quarter. Money Concepts Capital Corp acquired a new position in shares of Revance Therapeutics during the 4th quarter worth $40,000. Finally, Advisor Group Holdings Inc. boosted its position in shares of Revance Therapeutics by 60.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,838 shares of the biopharmaceutical company’s stock worth $56,000 after buying an additional 1,071 shares in the last quarter. Hedge funds and other institutional investors own 93.28% of the company’s stock.

Revance Therapeutics Price Performance

RVNC opened at $15.49 on Monday. Revance Therapeutics, Inc. has a 1 year low of $15.47 and a 1 year high of $37.98. The company has a debt-to-equity ratio of 14.20, a quick ratio of 4.65 and a current ratio of 5.12. The company’s 50 day simple moving average is $20.85 and its 200 day simple moving average is $27.68. The stock has a market capitalization of $1.36 billion, a PE ratio of -3.42 and a beta of 0.80.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.08). The company had revenue of $58.13 million for the quarter, compared to analysts’ expectations of $58.71 million. Revance Therapeutics had a negative net margin of 191.93% and a negative return on equity of 903.28%. The firm’s quarterly revenue was up 104.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.88) earnings per share. As a group, sell-side analysts expect that Revance Therapeutics, Inc. will post -2.8 EPS for the current year.

Insider Transactions at Revance Therapeutics

In other news, SVP Dwight Moxie sold 23,853 shares of the business’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 sale, the senior vice president now owns 55,066 shares in the company, valued at approximately $980,725.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Revance Therapeutics news, CEO Mark J. Foley sold 26,279 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $22.57, for a total transaction of $593,117.03. Following the transaction, the chief executive officer now owns 840,375 shares in the company, valued at $18,967,263.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Dwight Moxie sold 23,853 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $17.81, for a total value of $424,821.93. Following the completion of the sale, the senior vice president now owns 55,066 shares of the company’s stock, valued at approximately $980,725.46. The disclosure for this sale can be found here. Insiders have sold a total of 80,612 shares of company stock worth $1,786,530 in the last three months. 5.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

RVNC has been the subject of a number of research reports. Mizuho lifted their target price on shares of Revance Therapeutics from $33.00 to $35.00 in a research report on Wednesday, June 7th. BNP Paribas raised Revance Therapeutics from an “underperform” rating to a “neutral” rating and set a $20.00 price target for the company in a research report on Wednesday, August 16th. HC Wainwright restated a “buy” rating and issued a $41.00 price objective on shares of Revance Therapeutics in a research report on Tuesday, August 15th. Needham & Company LLC dropped their price objective on Revance Therapeutics from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. Finally, Morgan Stanley reduced their target price on shares of Revance Therapeutics from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.00.

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 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.