AQR Capital Management LLC Raises Position in Revance Therapeutics, Inc. (NASDAQ:RVNC)

AQR Capital Management LLC grew its holdings in Revance Therapeutics, Inc. (NASDAQ:RVNC) by 567.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,080 shares of the biopharmaceutical company’s stock after purchasing an additional 170,960 shares during the quarter. AQR Capital Management LLC owned about 0.19% of Revance Therapeutics worth $517,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of RVNC. Certuity LLC purchased a new position in Revance Therapeutics in the 2nd quarter worth approximately $26,000. Vanguard Personalized Indexing Management LLC purchased a new position in Revance Therapeutics in the 2nd quarter worth approximately $33,000. Hsbc Holdings PLC purchased a new position in Revance Therapeutics in the 2nd quarter worth approximately $38,000. Nisa Investment Advisors LLC lifted its stake in Revance Therapeutics by 2,167.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 18,077 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Revance Therapeutics by 52.5% in the 2nd quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 7,628 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Revance Therapeutics Stock Performance

Revance Therapeutics stock opened at $5.14 on Tuesday. Revance Therapeutics, Inc. has a fifty-two week low of $2.30 and a fifty-two week high of $9.90. The firm has a 50 day moving average price of $5.82 and a 200 day moving average price of $4.26. The company has a market capitalization of $538.77 million, a PE ratio of -1.61 and a beta of 0.98.

Revance Therapeutics (NASDAQ:RVNC) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.12. The company had revenue of $65.39 million during the quarter, compared to analyst estimates of $66.30 million. During the same quarter last year, the business posted ($0.80) EPS. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, equities research analysts forecast that Revance Therapeutics, Inc. will post -1.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Needham & Company LLC downgraded shares of Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 13th. HC Wainwright downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 13th. StockNews.com assumed coverage on shares of Revance Therapeutics in a report on Wednesday, October 9th. They set a “hold” rating for the company. Barclays restated an “equal weight” rating and set a $7.00 price target (down previously from $10.00) on shares of Revance Therapeutics in a report on Friday, September 13th. Finally, Piper Sandler downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.29.

Revance Therapeutics 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.