Inspire Investing LLC Sells 61,024 Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC)

Inspire Investing LLC decreased its stake in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 43.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,055 shares of the biopharmaceutical company’s stock after selling 61,024 shares during the quarter. Inspire Investing LLC’s holdings in Revance Therapeutics were worth $405,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Revance Therapeutics during the third quarter valued at approximately $399,000. Stonepine Capital Management LLC raised its position in Revance Therapeutics by 41.7% during the 2nd quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock valued at $7,196,000 after purchasing an additional 823,658 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Revance Therapeutics by 29.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,296 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 9,601 shares during the period. Daymark Wealth Partners LLC grew its position in shares of Revance Therapeutics by 65.2% during the 2nd quarter. Daymark Wealth Partners LLC now owns 76,000 shares of the biopharmaceutical company’s stock worth $195,000 after buying an additional 30,000 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Revance Therapeutics by 567.6% during the second quarter. AQR Capital Management LLC now owns 201,080 shares of the biopharmaceutical company’s stock valued at $517,000 after buying an additional 170,960 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Revance Therapeutics Price Performance

NASDAQ RVNC opened at $5.29 on Friday. Revance Therapeutics, Inc. has a 1 year low of $2.30 and a 1 year high of $9.74. The company has a market capitalization of $554.50 million, a PE ratio of -1.66 and a beta of 0.98. The company has a fifty day moving average of $5.99 and a 200 day moving average of $4.28.

Revance Therapeutics (NASDAQ:RVNC) last issued 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 company had revenue of $65.39 million during the quarter, compared to analyst estimates of $66.30 million. During the same period last year, the firm earned ($0.80) EPS. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. Research analysts expect that Revance Therapeutics, Inc. will post -1.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. William Blair reaffirmed a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. HC Wainwright cut Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Barclays reaffirmed an “equal weight” rating and issued a $7.00 price objective (down previously from $10.00) on shares of Revance Therapeutics in a research report on Friday, September 13th. Piper Sandler downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Finally, Needham & Company LLC lowered shares of Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.29.

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.