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

Inspire Investing LLC lessened its holdings in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 43.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,055 shares of the biopharmaceutical company’s stock after selling 61,024 shares during the quarter. Inspire Investing LLC owned approximately 0.07% of Revance Therapeutics worth $405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Certuity LLC purchased a new position in Revance Therapeutics during the second quarter valued at $26,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Revance Therapeutics during the 2nd quarter valued at about $33,000. Hsbc Holdings PLC bought a new position in shares of Revance Therapeutics during the 2nd quarter valued at approximately $38,000. Nisa Investment Advisors LLC grew its stake in shares of Revance Therapeutics by 2,167.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 18,077 shares during the period. Finally, Sei Investments Co. increased its holdings 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 acquiring an additional 7,628 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.

Revance Therapeutics Price Performance

NASDAQ:RVNC opened at $5.29 on Friday. The company has a market cap of $554.50 million, a price-to-earnings ratio of -1.66 and a beta of 0.98. Revance Therapeutics, Inc. has a 1 year low of $2.30 and a 1 year high of $9.74. The stock’s 50 day simple moving average is $5.99 and its two-hundred day simple moving average is $4.28.

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

Analyst Ratings Changes

Several equities analysts have weighed in on RVNC shares. Stifel Nicolaus lowered their price target on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Piper Sandler downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. Guggenheim reissued a “neutral” rating on shares of Revance Therapeutics in a report on Monday, August 12th. HC Wainwright lowered Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, Barclays reissued an “equal weight” rating and set a $7.00 target price (down previously from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Revance Therapeutics presently has an average rating of “Hold” and an average price target of $10.29.

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.