JPMorgan Chase & Co. Reduces Stock Holdings in Revance Therapeutics, Inc. (NASDAQ:RVNC)

JPMorgan Chase & Co. lessened its holdings in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 64.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,298,822 shares of the biopharmaceutical company’s stock after selling 2,335,359 shares during the period. JPMorgan Chase & Co.’s holdings in Revance Therapeutics were worth $3,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mint Tower Capital Management B.V. raised its stake in shares of Revance Therapeutics by 212.4% during the 4th quarter. Mint Tower Capital Management B.V. now owns 187,443 shares of the biopharmaceutical company’s stock valued at $570,000 after buying an additional 127,443 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Revance Therapeutics during the fourth quarter worth about $74,000. Magnetar Financial LLC raised its position in Revance Therapeutics by 2.2% during the fourth quarter. Magnetar Financial LLC now owns 2,556,345 shares of the biopharmaceutical company’s stock valued at $7,771,000 after acquiring an additional 56,174 shares in the last quarter. Candriam S.C.A. acquired a new position in Revance Therapeutics in the fourth quarter valued at approximately $909,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Revance Therapeutics by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 797,299 shares of the biopharmaceutical company’s stock valued at $2,424,000 after acquiring an additional 6,462 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Revance Therapeutics Stock Performance

Shares of Revance Therapeutics stock opened at $3.65 on Monday. The company has a market capitalization of $381.02 million, a P/E ratio of -1.89 and a beta of 0.90. Revance Therapeutics, Inc. has a 1 year low of $2.30 and a 1 year high of $6.65. The company’s fifty day moving average is $3.65 and its two-hundred day moving average is $3.90.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RVNC shares. StockNews.com began coverage on shares of Revance Therapeutics in a report on Saturday. They set a “hold” rating for the company. Barclays lowered their price objective on shares of Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating for the company in a research report on Monday, December 23rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a research note on Friday, January 17th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.