Capital World Investors Has $68.61 Million Stock Holdings in Revance Therapeutics, Inc. (NASDAQ:RVNC)

Capital World Investors grew its stake in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 16.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 13,945,535 shares of the biopharmaceutical company’s stock after acquiring an additional 2,006,459 shares during the quarter. Capital World Investors owned about 13.35% of Revance Therapeutics worth $68,612,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RVNC. Vanguard Group Inc. increased its stake in Revance Therapeutics by 6.5% in the first quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock valued at $26,560,000 after acquiring an additional 328,781 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Revance Therapeutics by 251.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,147,294 shares of the biopharmaceutical company’s stock valued at $10,085,000 after purchasing an additional 820,587 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Revance Therapeutics by 3.5% during the 4th quarter. Jennison Associates LLC now owns 1,032,352 shares of the biopharmaceutical company’s stock worth $9,074,000 after buying an additional 34,736 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Revance Therapeutics by 2.1% during the 4th 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. Finally, Rhenman & Partners Asset Management AB lifted its position in shares of Revance Therapeutics by 31.6% during the 4th quarter. Rhenman & Partners Asset Management AB now owns 475,872 shares of the biopharmaceutical company’s stock worth $4,183,000 after buying an additional 114,193 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Revance Therapeutics Stock Performance

NASDAQ RVNC opened at $3.92 on Friday. Revance Therapeutics, Inc. has a twelve month low of $2.30 and a twelve month high of $24.87. The stock has a fifty day simple moving average of $3.03 and a 200 day simple moving average of $4.31.

Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.54) EPS for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.12. The company had revenue of $51.94 million during the quarter, compared to the consensus estimate of $55.64 million. Research analysts predict that Revance Therapeutics, Inc. will post -1.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. HC Wainwright dropped their target price on shares of Revance Therapeutics from $12.00 to $11.00 and set a “buy” rating for the company in a report on Monday, May 13th. Piper Sandler restated an “overweight” rating and issued a $11.00 target price (down previously from $20.00) on shares of Revance Therapeutics in a research report on Friday, May 10th. Mizuho decreased their target price on shares of Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Needham & Company LLC lowered their price target on shares of Revance Therapeutics from $18.00 to $12.00 and set a “buy” rating for the company in a report on Friday, May 10th. Finally, 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. 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 has a consensus rating of “Hold” and a consensus target price of $11.50.

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.