Revance Therapeutics, Inc. (NASDAQ:RVNC) Position Reduced by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 411,523 shares of the biopharmaceutical company’s stock after selling 34,504 shares during the period. Wellington Management Group LLP’s holdings in Revance Therapeutics were worth $1,251,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. KLP Kapitalforvaltning AS acquired a new position in Revance Therapeutics in the fourth quarter worth about $74,000. Virtu Financial LLC acquired a new stake in shares of Revance Therapeutics during the 3rd quarter valued at approximately $120,000. Deltec Asset Management LLC bought a new stake in Revance Therapeutics during the fourth quarter valued at $304,000. Inspire Investing LLC grew its position in shares of Revance Therapeutics by 69.0% during the 4th quarter. Inspire Investing LLC now owns 131,892 shares of the biopharmaceutical company’s stock valued at $401,000 after buying an additional 53,837 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Revance Therapeutics by 5.1% in the fourth quarter. Rhumbline Advisers now owns 142,603 shares of the biopharmaceutical company’s stock valued at $434,000 after acquiring an additional 6,885 shares during the period. Institutional investors own 97.70% of the company’s stock.

Revance Therapeutics Stock Performance

Shares of RVNC stock opened at $3.65 on Monday. Revance Therapeutics, Inc. has a 1 year low of $2.30 and a 1 year high of $6.65. The business’s fifty day moving average is $3.65 and its 200-day moving average is $3.95. The stock has a market cap of $381.02 million, a PE ratio of -1.89 and a beta of 0.90.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. StockNews.com assumed coverage on Revance Therapeutics in a research note on Friday. They issued a “hold” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a report on Friday, January 17th. Finally, Barclays cut their target price on Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Monday, December 23rd. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.39.

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.