Alpine Associates Management Inc. Sells 1,812,895 Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC)

Alpine Associates Management Inc. cut its holdings in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 43.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,349,966 shares of the biopharmaceutical company’s stock after selling 1,812,895 shares during the quarter. Alpine Associates Management Inc.’s holdings in Revance Therapeutics were worth $7,144,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. State Street Corp boosted 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 buying an additional 150,323 shares during the period. LMR Partners LLP acquired a new stake in Revance Therapeutics during the 3rd quarter worth approximately $11,648,000. Charles Schwab Investment Management Inc. boosted its position in Revance Therapeutics by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 797,299 shares of the biopharmaceutical company’s stock worth $2,424,000 after buying an additional 6,462 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in Revance Therapeutics during the 3rd quarter worth approximately $3,763,000. Finally, FNY Investment Advisers LLC boosted its position in Revance Therapeutics by 160.4% during the 4th quarter. FNY Investment Advisers LLC now owns 477,823 shares of the biopharmaceutical company’s stock worth $1,452,000 after buying an additional 294,323 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Revance Therapeutics Price Performance

Revance Therapeutics stock opened at $3.65 on Friday. Revance Therapeutics, Inc. has a 12-month low of $2.30 and a 12-month high of $7.56. The firm’s fifty day moving average is $3.54 and its 200 day moving average is $4.45. The company has a market capitalization of $381.02 million, a PE ratio of -1.89 and a beta of 0.90.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RVNC shares. Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a research report on Friday, January 17th. StockNews.com assumed coverage on shares of Revance Therapeutics in a research report on Sunday, March 2nd. They issued a “hold” rating on the stock. Barclays dropped their price target on shares of 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. Finally, Mizuho dropped their price target on shares of 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 research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Revance Therapeutics currently has an average rating of “Hold” and a consensus target price of $8.39.

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.