Stonepine Capital Management LLC Sells 1,980,000 Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC)

Stonepine Capital Management LLC cut its stake in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 70.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 820,000 shares of the biopharmaceutical company’s stock after selling 1,980,000 shares during the quarter. Revance Therapeutics makes up approximately 2.7% of Stonepine Capital Management LLC’s portfolio, making the stock its 10th biggest position. Stonepine Capital Management LLC owned 0.78% of Revance Therapeutics worth $4,256,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Certuity LLC acquired a new position in Revance Therapeutics during the 2nd quarter worth about $26,000. FORA Capital LLC acquired a new position in Revance Therapeutics during the 3rd quarter worth about $54,000. Creative Planning acquired a new position in Revance Therapeutics during the 3rd quarter worth about $56,000. Vanguard Personalized Indexing Management LLC acquired a new position in Revance Therapeutics during the 2nd quarter worth about $33,000. Finally, Accredited Investors Inc. acquired a new position in Revance Therapeutics during the 3rd quarter worth about $67,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Revance Therapeutics Stock Performance

Revance Therapeutics stock traded up $0.08 during midday trading on Wednesday, reaching $4.10. The stock had a trading volume of 133,422 shares, compared to its average volume of 2,723,203. Revance Therapeutics, Inc. has a 12 month low of $2.30 and a 12 month high of $9.74. The company has a fifty day moving average price of $5.05 and a two-hundred day moving average price of $4.44.

Revance Therapeutics (NASDAQ:RVNC) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The company had revenue of $59.88 million during the quarter, compared to analyst estimates of $67.73 million. On average, research analysts anticipate that Revance Therapeutics, Inc. will post -1.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RVNC. Guggenheim reissued a “neutral” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. William Blair reissued a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Stifel Nicolaus lowered their price objective on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a research report on Friday, November 8th. Finally, Piper Sandler lowered Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $9.66.

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.