Revance Therapeutics, Inc. (NASDAQ:RVNC) Shares Bought by Arizona State Retirement System

Arizona State Retirement System raised its position in Revance Therapeutics, Inc. (NASDAQ:RVNC) by 27.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,716 shares of the biopharmaceutical company’s stock after purchasing an additional 5,996 shares during the period. Arizona State Retirement System’s holdings in Revance Therapeutics were worth $71,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. CM Management LLC raised its stake in Revance Therapeutics by 60.0% in the second quarter. CM Management LLC now owns 400,000 shares of the biopharmaceutical company’s stock valued at $1,028,000 after buying an additional 150,000 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Revance Therapeutics by 11.6% in the 2nd quarter. Rhumbline Advisers now owns 136,347 shares of the biopharmaceutical company’s stock valued at $350,000 after acquiring an additional 14,191 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Revance Therapeutics by 47.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,961 shares of the biopharmaceutical company’s stock worth $85,000 after acquiring an additional 10,638 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Revance Therapeutics by 22.5% during the second quarter. Bank of New York Mellon Corp now owns 373,015 shares of the biopharmaceutical company’s stock worth $959,000 after purchasing an additional 68,451 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Revance Therapeutics by 2,167.5% in the second quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 18,077 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Revance Therapeutics Trading Up 0.4 %

Shares of RVNC stock opened at $5.99 on Thursday. The company has a market capitalization of $625.65 million, a P/E ratio of -1.65 and a beta of 1.00. The business’s 50 day moving average is $5.24 and its two-hundred day moving average is $4.29. Revance Therapeutics, Inc. has a twelve month low of $2.30 and a twelve month high of $14.24.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.12. The firm had revenue of $65.39 million during the quarter, compared to analyst estimates of $66.30 million. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.80) earnings per share.

Analyst Ratings Changes

Several analysts have recently weighed in on RVNC shares. Guggenheim restated a “neutral” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Piper Sandler downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Stifel Nicolaus cut their target price on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. StockNews.com assumed coverage on Revance Therapeutics in a research report on Sunday. They issued a “hold” rating for the company. Finally, William Blair reaffirmed a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Revance Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $10.50.

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.