Granite Investment Partners LLC Has $1.79 Million Position in Revance Therapeutics, Inc. (RVNC)
Granite Investment Partners LLC decreased its position in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 4.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 67,961 shares of the biopharmaceutical company’s stock after selling 3,280 shares during the period. Granite Investment Partners LLC’s holdings in Revance Therapeutics were worth $1,794,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bank of America Corp DE boosted its position in shares of Revance Therapeutics by 29.5% in the first quarter. Bank of America Corp DE now owns 7,247 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 1,651 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Revance Therapeutics during the fourth quarter valued at about $174,000. Trexquant Investment LP purchased a new position in shares of Revance Therapeutics during the second quarter valued at about $231,000. American International Group Inc. boosted its position in shares of Revance Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 12,590 shares of the biopharmaceutical company’s stock valued at $262,000 after buying an additional 834 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Revance Therapeutics by 5.9% in the first quarter. Parametric Portfolio Associates LLC now owns 27,401 shares of the biopharmaceutical company’s stock valued at $570,000 after buying an additional 1,524 shares during the period. 87.29% of the stock is currently owned by hedge funds and other institutional investors.
Revance Therapeutics, Inc. (NASDAQ RVNC) opened at 23.35 on Friday. Revance Therapeutics, Inc. has a 52 week low of $12.35 and a 52 week high of $28.30. The company has a 50-day moving average price of $24.38 and a 200 day moving average price of $21.91. The company’s market cap is $719.62 million.
Revance Therapeutics (NASDAQ:RVNC) last posted its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.93) by $0.03. Revance Therapeutics had a negative net margin of 32,936.67% and a negative return on equity of 55.21%. The firm had revenue of $0.08 million during the quarter, compared to the consensus estimate of $0.05 million. During the same quarter last year, the firm earned ($0.88) EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities research analysts forecast that Revance Therapeutics, Inc. will post ($3.75) EPS for the current fiscal year.
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RVNC has been the topic of several research analyst reports. Zacks Investment Research cut Revance Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. Cantor Fitzgerald initiated coverage on Revance Therapeutics in a research note on Thursday, July 20th. They issued an “overweight” rating and a $50.00 price objective on the stock. Aegis reissued a “buy” rating and issued a $36.00 price objective (up previously from $28.00) on shares of Revance Therapeutics in a research note on Friday, May 19th. BidaskClub cut Revance Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, ValuEngine raised Revance Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Revance Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $34.75.
In related news, CEO L Daniel Browne sold 19,713 shares of Revance Therapeutics stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $20.35, for a total value of $401,159.55. Following the completion of the sale, the chief executive officer now owns 183,932 shares in the company, valued at approximately $3,743,016.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Lauren P. Silvernail sold 1,793 shares of Revance Therapeutics stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $20.20, for a total transaction of $36,218.60. Following the completion of the sale, the chief financial officer now owns 36,566 shares of the company’s stock, valued at approximately $738,633.20. The disclosure for this sale can be found here. Insiders sold a total of 33,793 shares of company stock valued at $685,576 in the last quarter. 18.86% of the stock is owned by insiders.
About Revance Therapeutics
Revance Therapeutics, Inc is a clinical-stage biotechnology company. The Company is focused on the development, manufacturing and commercialization of botulinum toxin products for multiple aesthetic and therapeutic indications. Its peptide technology enables delivery of botulinum toxin type A through two investigational drug product candidates, DaxibotulinumtoxinA for Injection (RT002), or RT002 injectable, and DaxibotulinumtoxinA Topical Gel (RT001), or RT001 topical.
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