Rubric Capital Management LP Acquires Shares of 1,600,000 Revance Therapeutics, Inc. (NASDAQ:RVNC)

Rubric Capital Management LP acquired a new stake in Revance Therapeutics, Inc. (NASDAQ:RVNCFree Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,600,000 shares of the biopharmaceutical company’s stock, valued at approximately $18,352,000. Rubric Capital Management LP owned approximately 1.82% of Revance Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. West Tower Group LLC bought a new position in Revance Therapeutics during the second quarter worth about $39,000. Money Concepts Capital Corp bought a new position in Revance Therapeutics during the fourth quarter worth about $40,000. Advisor Group Holdings Inc. grew its holdings in Revance Therapeutics by 60.6% during the first quarter. Advisor Group Holdings Inc. now owns 2,838 shares of the biopharmaceutical company’s stock worth $56,000 after purchasing an additional 1,071 shares during the period. Assetmark Inc. grew its holdings in Revance Therapeutics by 63.2% during the third quarter. Assetmark Inc. now owns 3,257 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 1,261 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in Revance Therapeutics by 38.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,273 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 901 shares during the period. Institutional investors own 93.28% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on RVNC. Mizuho downgraded shares of Revance Therapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $16.00 to $9.00 in a research report on Monday, January 29th. The Goldman Sachs Group downgraded shares of Revance Therapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $30.00 to $8.00 in a research report on Tuesday, January 9th. Piper Sandler cut their price objective on shares of Revance Therapeutics from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, November 9th. HC Wainwright cut their price objective on shares of Revance Therapeutics from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Finally, Barclays cut their price objective on shares of Revance Therapeutics from $35.00 to $10.00 and set an “overweight” rating for the company in a research report on Monday, January 29th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Revance Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $18.11.

View Our Latest Research Report on RVNC

Revance Therapeutics Price Performance

Shares of NASDAQ RVNC traded down $0.04 during midday trading on Wednesday, reaching $5.66. The company’s stock had a trading volume of 1,654,812 shares, compared to its average volume of 1,581,274. The business’s 50 day moving average price is $6.51 and its two-hundred day moving average price is $9.57. The company has a market cap of $497.00 million, a P/E ratio of -1.11 and a beta of 0.99. The company has a debt-to-equity ratio of 14.20, a quick ratio of 4.17 and a current ratio of 4.73. Revance Therapeutics, Inc. has a fifty-two week low of $5.00 and a fifty-two week high of $37.98.

About Revance Therapeutics

(Free Report)

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 DaxibotulinumtoxinA for injection, which has completed phase III clinical trials for the treatment of glabellar (frown) lines and cervical dystonia; is in 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.

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Institutional Ownership by Quarter for Revance Therapeutics (NASDAQ:RVNC)

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