Wellington Management Group LLP Reduces Stock Position in Revance Therapeutics, Inc. (NASDAQ:RVNC)

Wellington Management Group LLP decreased its position in Revance Therapeutics, Inc. (NASDAQ:RVNC) by 58.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 449,685 shares of the biopharmaceutical company’s stock after selling 632,735 shares during the quarter. Wellington Management Group LLP’s holdings in Revance Therapeutics were worth $3,953,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of RVNC. Legato Capital Management LLC increased its holdings in Revance Therapeutics by 48.8% during the 4th quarter. Legato Capital Management LLC now owns 57,652 shares of the biopharmaceutical company’s stock valued at $507,000 after purchasing an additional 18,903 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Revance Therapeutics in the 4th quarter worth approximately $93,000. Vanguard Group Inc. increased its stake in shares of Revance Therapeutics by 3.0% during the third quarter. Vanguard Group Inc. now owns 4,791,459 shares of the biopharmaceutical company’s stock valued at $54,958,000 after buying an additional 138,683 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Revance Therapeutics by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 677,364 shares of the biopharmaceutical company’s stock valued at $5,954,000 after acquiring an additional 13,826 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new stake in Revance Therapeutics in the fourth quarter worth $172,000. 97.70% of the stock is owned by institutional investors.

Revance Therapeutics Stock Performance

RVNC stock opened at $2.57 on Friday. The firm has a 50 day moving average price of $3.14 and a 200-day moving average price of $5.01. Revance Therapeutics, Inc. has a 52-week low of $2.30 and a 52-week high of $25.83. The firm has a market capitalization of $268.44 million, a price-to-earnings ratio of -0.71 and a beta of 1.05.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.12. The company had revenue of $51.94 million for the quarter, compared to analysts’ expectations of $55.64 million. As a group, sell-side analysts forecast that Revance Therapeutics, Inc. will post -1.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RVNC has been the topic of a number of research analyst reports. Mizuho reduced their price objective on shares of Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. HC Wainwright reduced their price target on shares of Revance Therapeutics from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. Needham & Company LLC lowered their price objective on shares of Revance Therapeutics from $18.00 to $12.00 and set a “buy” rating for the company in a report on Friday, May 10th. The Goldman Sachs Group reduced their target price on Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. Finally, Piper Sandler restated an “overweight” rating and issued a $11.00 target price (down previously from $20.00) on shares of Revance Therapeutics in a research note on Friday, May 10th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Revance Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $11.50.

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.