Revance Therapeutics (NASDAQ:RVNC) Coverage Initiated at Wall Street Zen

Research analysts at Wall Street Zen started coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a report released on Wednesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Revance Therapeutics Price Performance

NASDAQ:RVNC opened at $3.65 on Wednesday. Revance Therapeutics has a 52 week low of $2.30 and a 52 week high of $6.65. The firm has a 50 day moving average of $3.65 and a 200 day moving average of $3.63. The stock has a market capitalization of $381.02 million, a price-to-earnings ratio of -1.89 and a beta of 0.90.

Institutional Trading of Revance Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in Revance Therapeutics during the fourth quarter valued at $489,000. Inspire Investing LLC grew its position in shares of Revance Therapeutics by 69.0% in the fourth quarter. Inspire Investing LLC now owns 131,892 shares of the biopharmaceutical company’s stock valued at $401,000 after purchasing an additional 53,837 shares during the period. MetLife Investment Management LLC grew its position in shares of Revance Therapeutics by 7.5% in the fourth quarter. MetLife Investment Management LLC now owns 60,514 shares of the biopharmaceutical company’s stock valued at $184,000 after purchasing an additional 4,235 shares during the period. Deltec Asset Management LLC acquired a new stake in shares of Revance Therapeutics in the fourth quarter valued at about $304,000. Finally, FORA Capital LLC grew its position in shares of Revance Therapeutics by 487.1% in the fourth quarter. FORA Capital LLC now owns 60,868 shares of the biopharmaceutical company’s stock valued at $185,000 after purchasing an additional 50,501 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.