New York Life Investment Management LLC Buys 158,076 Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC)

New York Life Investment Management LLC increased its stake in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 114.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 295,670 shares of the biopharmaceutical company’s stock after acquiring an additional 158,076 shares during the quarter. New York Life Investment Management LLC owned approximately 0.28% of Revance Therapeutics worth $899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Alpine Associates Management Inc. bought a new position in Revance Therapeutics during the 3rd quarter worth approximately $21,605,000. State Street Corp grew its position in Revance Therapeutics by 6.6% during the 3rd quarter. State Street Corp now owns 2,433,963 shares of the biopharmaceutical company’s stock worth $12,632,000 after acquiring an additional 150,323 shares during the last quarter. LMR Partners LLP bought a new position in Revance Therapeutics during the 3rd quarter worth approximately $11,648,000. Charles Schwab Investment Management Inc. grew its position in Revance Therapeutics by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 790,837 shares of the biopharmaceutical company’s stock worth $4,104,000 after acquiring an additional 41,250 shares during the last quarter. Finally, Oddo BHF Asset Management Sas bought a new position in Revance Therapeutics during the 3rd quarter worth approximately $3,763,000. 97.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RVNC. Barclays cut their price objective on Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Monday, December 23rd. HC Wainwright reiterated a “neutral” rating and issued a $6.60 price objective on shares of Revance Therapeutics in a research report on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a research report on Friday, January 17th. StockNews.com began coverage on Revance Therapeutics in a research report on Sunday. They issued a “hold” rating on the stock. Finally, Mizuho cut their price objective on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $8.39.

Revance Therapeutics Price Performance

RVNC opened at $3.65 on Tuesday. The stock has a market cap of $381.02 million, a PE ratio of -1.89 and a beta of 0.90. The business has a 50 day moving average of $3.49 and a 200-day moving average of $4.52. Revance Therapeutics, Inc. has a 52 week low of $2.30 and a 52 week high of $7.56.

About Revance Therapeutics

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.