DnB Asset Management AS, a prominent asset management firm, has increased its stake in Revance Therapeutics, Inc. (NASDAQ:RVNC) by 51.6% during the second quarter of this year. The company disclosed in its most recent 13F filing with the Securities & Exchange Commission that it now owns 21,775 shares of the biopharmaceutical company’s stock, after acquiring an additional 7,410 shares during the given period. As of its latest filing with the SEC, DnB Asset Management AS’s holdings in Revance Therapeutics were valued at $551,000.
In other news relating to Revance Therapeutics, Senior Vice President Dwight Moxie recently sold 23,853 shares of the firm’s stock on September 5th. The transaction was carried out at an average price of $17.81 per share, resulting in a total transaction value of $424,821.93. Following this sale, Moxie now directly holds 55,066 shares of the company’s stock with a valuation of $980,725.46. This sale was disclosed in a filing with the SEC and can be accessed through the provided hyperlink.
Furthermore, CEO Mark J. Foley also made a significant sale by disposing of 26,279 shares of Revance Therapeutics’ stock on August 3rd at an average price of $22.57 per share. The total worth of this transaction amounted to $593,117.03. As a result of this sale, Foley now holds approximately 840,375 shares in the company with a value amounting to $18,967,263.75.
It is worth noting that over the past three months alone insiders have sold approximately 78,112 shares of Revance Therapeutics’ stock with a total value of $1,71598530- value930.The insider sales sum up to approximately along9422.20 3.60% of the total outstanding shares.
The disclosure for each sale made by insiders can be found on the Securities & Exchange Commission’s website through the hyperlink provided.
These recent developments regarding Revance Therapeutics signify noteworthy activities within the company and its stakeholder structure. Investors and market participants should closely monitor such transactions as they provide valuable insights into the sentiments of influential individuals associated with the firm.
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Institutional Investors and Analysts Monitor Revance Therapeutics Amidst Uncertainty
Institutional investors are making significant changes to their positions in Revance Therapeutics, a biopharmaceutical company. New England Research & Management Inc. recently purchased a new position in shares of the company, valued at approximately $225,000 during the second quarter. Meanwhile, Integral Health Asset Management LLC increased its holdings by 4.2% during the first quarter, now owning 250,000 shares worth $8,052,000.
Blair William & Co. IL also saw a substantial lift in its holdings during the first quarter by 144.5%. The firm now owns 306,877 shares valued at $9,885,000 after acquiring an additional 181,372 shares. Furthermore, Yarbrough Capital LLC bought a new position in Revance Therapeutics during the first quarter for around $393,000.
Picton Mahoney Asset Management showed considerable growth as well by lifting its holdings during the fourth quarter by 62.8%. The firm now possesses 99,980 shares worth $1,844,000 after obtaining an additional 38,580 shares. It is worth noting that institutional investors hold a staggering 93.28% of the company’s stock.
A group of research analysts have commented on Revance Therapeutics (NASDAQ:RVNC) recently as well. While Mizuho increased the price target from $33.00 to $35.00 in June this year and HC Wainwright reaffirmed a “buy” rating with a target price of $41.00 on August 15th; other firms have presented more conservative ratings.
Morgan Stanley lowered its price target from $26.00 to $25.00 and gave the company an “equal weight” rating on August 9th while StockNews.com initiated coverage on Revance Therapeutics with a “hold” rating on August 17th.
Finally, BNP Paribas raised its rating from “underperform” to “neutral” on August 16th, setting a price target of $20.00. Bloomberg.com suggests the average rating for Revance Therapeutics is moderate buy with an average target price of $35.00.
Recently, on September 20th, NASDAQ RVNC opened at $13.81. The company has a debt-to-equity ratio of 14.20 and possesses a current ratio of 5.12 and a quick ratio of 4.65. With a market cap of $1.21 billion, Revance Therapeutics has a P/E ratio of -3.05 and a beta of 0.80.
The stock’s 52-week range is quite extensive, with its lowest point at $11.10 and highest point at $37.98 respectively. As for moving averages, the firm maintains a 50-day simple moving average of $19.66 and a two-hundred day simple moving average of $26.83.
In terms of earnings data, Revance Therapeutics last announced its quarterly financials on August 8th. Unfortunately, the biopharmaceutical company reported earnings per share (EPS)of ($0.x in deficit), failing to meet the consensus estimate by ($0.xmm). The firm did see revenue of roughly $58.xx million during this period, slightly below the estimated figure.
Moreover, Revance Therapeutics experienced an increase in revenue by over 100% compared to the same quarter last year, indicating positive growth in that respect despite missing EPS forecasts.
Looking ahead, research analysts anticipate that for the full year ending December 31, XX23; Revance Therapeutics will report approximately -2.x EPS for shareholders.
With institutional investors making changes to their positions and research analysts presenting mixed ratings for Revance Therapeutics’ stock, it is clear that there exists considerable uncertainty surrounding the biopharmaceutical company’s future.
