Wellington Management Group LLP Has $3.95 Million Stock Holdings in Revance Therapeutics, Inc. (NASDAQ:RVNC)

Wellington Management Group LLP lowered its holdings in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 58.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 449,685 shares of the biopharmaceutical company’s stock after selling 632,735 shares during the period. Wellington Management Group LLP owned about 0.51% of Revance Therapeutics worth $3,953,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of RVNC. Vanguard Group Inc. raised its stake in Revance Therapeutics by 3.0% during the third quarter. Vanguard Group Inc. now owns 4,791,459 shares of the biopharmaceutical company’s stock worth $54,958,000 after acquiring an additional 138,683 shares in the last quarter. Rubric Capital Management LP bought a new position in Revance Therapeutics in the 3rd quarter valued at approximately $18,352,000. CIBC Asset Management Inc boosted its position in Revance Therapeutics by 251.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,147,294 shares of the biopharmaceutical company’s stock valued at $10,085,000 after buying an additional 820,587 shares in the last quarter. Jennison Associates LLC boosted its position in Revance Therapeutics by 3.5% in the fourth quarter. Jennison Associates LLC now owns 1,032,352 shares of the biopharmaceutical company’s stock valued at $9,074,000 after buying an additional 34,736 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake 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 worth $5,954,000 after buying an additional 13,826 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Revance Therapeutics Stock Performance

NASDAQ:RVNC opened at $2.57 on Friday. Revance Therapeutics, Inc. has a 52 week low of $2.30 and a 52 week high of $25.83. The firm’s fifty day moving average is $3.14 and its 200-day moving average is $5.01. The firm has a market cap of $268.44 million, a P/E ratio of -0.71 and a beta of 1.05.

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

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.