Federated Hermes Inc. Purchases 43,389 Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC)

Federated Hermes Inc. increased its position in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 111.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,177 shares of the biopharmaceutical company’s stock after purchasing an additional 43,389 shares during the period. Federated Hermes Inc.’s holdings in Revance Therapeutics were worth $722,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Assetmark Inc. grew its position in Revance Therapeutics by 63.2% in the third quarter. Assetmark Inc. now owns 3,257 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 1,261 shares during the period. Canada Pension Plan Investment Board bought a new stake in Revance Therapeutics in the third quarter valued at $88,000. China Universal Asset Management Co. Ltd. grew its position in Revance Therapeutics by 351.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,155 shares of the biopharmaceutical company’s stock valued at $89,000 after acquiring an additional 7,905 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Revance Therapeutics by 17.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,083 shares of the biopharmaceutical company’s stock valued at $207,000 after acquiring an additional 2,622 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in Revance Therapeutics in the third quarter valued at $211,000. 97.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, President Dustin S. Sjuts sold 9,211 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $5.04, for a total transaction of $46,423.44. Following the completion of the transaction, the president now directly owns 167,550 shares in the company, valued at $844,452. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, President Dustin S. Sjuts sold 9,211 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $5.04, for a total transaction of $46,423.44. Following the completion of the transaction, the president now directly owns 167,550 shares in the company, valued at $844,452. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Tobin Schilke sold 9,361 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $5.04, for a total value of $47,179.44. Following the completion of the transaction, the chief financial officer now owns 192,666 shares of the company’s stock, valued at $971,036.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,089 shares of company stock worth $143,642. 5.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RVNC. Mizuho cut Revance Therapeutics from a “buy” rating to a “neutral” rating and lowered their price target for the company from $16.00 to $9.00 in a research report on Monday, January 29th. The Goldman Sachs Group increased their target price on Revance Therapeutics from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Revance Therapeutics in a report on Thursday, February 29th. Barclays decreased their target price on Revance Therapeutics from $35.00 to $10.00 and set an “overweight” rating on the stock in a report on Monday, January 29th. Finally, Piper Sandler decreased their target price on Revance Therapeutics from $42.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Revance Therapeutics has a consensus rating of “Hold” and an average target price of $13.75.

Revance Therapeutics Price Performance

NASDAQ RVNC opened at $3.77 on Friday. The firm has a market cap of $392.91 million, a P/E ratio of -0.99 and a beta of 1.16. The stock’s 50-day moving average is $4.85 and its 200-day moving average is $6.34. Revance Therapeutics, Inc. has a one year low of $3.21 and a one year high of $37.98.

Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.17. The business had revenue of $69.80 million for the quarter, compared to analyst estimates of $64.02 million. Equities analysts anticipate that Revance Therapeutics, Inc. will post -2.17 EPS for the current year.

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.