Clarity Capital Partners LLC Purchases Shares of 12,082 Revance Therapeutics, Inc. (NASDAQ:RVNC)

Clarity Capital Partners LLC acquired a new position in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,082 shares of the biopharmaceutical company’s stock, valued at approximately $59,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its position in shares of Revance Therapeutics by 626.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,823 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 5,884 shares in the last quarter. Quest Partners LLC bought a new stake in Revance Therapeutics during the 4th quarter worth about $84,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Revance Therapeutics by 351.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,155 shares of the biopharmaceutical company’s stock worth $89,000 after buying an additional 7,905 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Revance Therapeutics during the 4th quarter worth about $93,000. Finally, HighPoint Advisor Group LLC acquired a new position in shares of Revance Therapeutics during the 4th quarter worth about $98,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Revance Therapeutics Price Performance

RVNC traded up $0.02 during trading on Wednesday, hitting $2.91. The stock had a trading volume of 1,343,530 shares, compared to its average volume of 1,867,375. The company has a 50 day moving average price of $2.99 and a 200-day moving average price of $4.70. Revance Therapeutics, Inc. has a one year low of $2.30 and a one year high of $24.97. The firm has a market cap of $303.95 million, a price-to-earnings ratio of -0.80 and a beta of 0.98.

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