Jennison Associates LLC Purchases 34,736 Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC)

Jennison Associates LLC grew its position in Revance Therapeutics, Inc. (NASDAQ:RVNC) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,032,352 shares of the biopharmaceutical company’s stock after acquiring an additional 34,736 shares during the quarter. Jennison Associates LLC owned 1.18% of Revance Therapeutics worth $9,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Assetmark Inc. increased its position in shares of Revance Therapeutics by 63.2% during the 3rd quarter. Assetmark Inc. now owns 3,257 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 1,261 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Revance Therapeutics during the 3rd quarter valued at approximately $88,000. China Universal Asset Management Co. Ltd. increased its position 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 valued at $89,000 after purchasing an additional 7,905 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Revance Therapeutics by 17.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,083 shares of the biopharmaceutical company’s stock valued at $207,000 after purchasing an additional 2,622 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Revance Therapeutics during the 3rd quarter valued at $211,000. Institutional investors own 97.70% of the company’s stock.

Revance Therapeutics Stock Performance

Shares of NASDAQ RVNC opened at $3.40 on Friday. Revance Therapeutics, Inc. has a 1-year low of $3.21 and a 1-year high of $37.98. The business has a fifty day moving average price of $4.99 and a 200 day moving average price of $6.50.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.17. The company had revenue of $69.80 million for the quarter, compared to analysts’ expectations of $64.02 million. On average, research analysts predict that Revance Therapeutics, Inc. will post -2.17 EPS for the current year.

Analysts Set New Price Targets

RVNC has been the subject of a number of recent analyst reports. The Goldman Sachs Group boosted their price objective on Revance Therapeutics from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Barclays dropped their price objective on Revance Therapeutics from $35.00 to $10.00 and set an “overweight” rating for the company in a report on Monday, January 29th. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Revance Therapeutics in a report on Thursday, February 29th. Piper Sandler lowered their target price on Revance Therapeutics from $42.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Finally, Mizuho cut Revance Therapeutics from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $16.00 to $9.00 in a 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 stock. Based on data from MarketBeat, Revance Therapeutics has an average rating of “Hold” and a consensus target price of $13.75.

Insider Activity at Revance Therapeutics

In related news, insider Dwight Moxie sold 8,125 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $5.04, for a total transaction of $40,950.00. Following the transaction, the insider now directly owns 137,815 shares of the company’s stock, valued at approximately $694,587.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Dwight Moxie sold 8,125 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $5.04, for a total transaction of $40,950.00. Following the transaction, the insider now directly owns 137,815 shares of the company’s stock, valued at approximately $694,587.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Tobin Schilke sold 9,361 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $5.04, for a total value of $47,179.44. Following the completion of the transaction, the chief financial officer now directly owns 192,666 shares in the company, valued at $971,036.64. The disclosure for this sale can be found here. Insiders have sold 29,089 shares of company stock valued at $143,642 in the last ninety days. Corporate insiders own 5.10% of the company’s stock.

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.