Revance Therapeutics Inc (RVNC) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its holdings in Revance Therapeutics Inc (NASDAQ:RVNC) by 3.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,549,735 shares of the biopharmaceutical company’s stock after selling 104,701 shares during the period. Franklin Resources Inc. owned approximately 0.07% of Revance Therapeutics worth $63,361,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Nottingham Advisors Inc. lifted its stake in Revance Therapeutics by 17.7% in the 2nd quarter. Nottingham Advisors Inc. now owns 13,312 shares of the biopharmaceutical company’s stock worth $365,000 after acquiring an additional 2,000 shares in the last quarter. Voya Investment Management LLC lifted its stake in Revance Therapeutics by 19.6% in the 2nd quarter. Voya Investment Management LLC now owns 12,433 shares of the biopharmaceutical company’s stock worth $341,000 after acquiring an additional 2,041 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in Revance Therapeutics by 25.8% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 10,875 shares of the biopharmaceutical company’s stock worth $299,000 after acquiring an additional 2,232 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in Revance Therapeutics by 43.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,795 shares of the biopharmaceutical company’s stock worth $241,000 after acquiring an additional 2,654 shares in the last quarter. Finally, MetLife Investment Advisors LLC lifted its stake in Revance Therapeutics by 41.5% in the 2nd quarter. MetLife Investment Advisors LLC now owns 15,532 shares of the biopharmaceutical company’s stock worth $426,000 after acquiring an additional 4,557 shares in the last quarter. 92.86% of the stock is owned by hedge funds and other institutional investors.

Shares of RVNC stock opened at $24.20 on Friday. Revance Therapeutics Inc has a fifty-two week low of $19.62 and a fifty-two week high of $37.45. The stock has a market capitalization of $921.36 million, a price-to-earnings ratio of -6.03 and a beta of 1.33.

Revance Therapeutics (NASDAQ:RVNC) last issued its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($0.95) by $0.04. Revance Therapeutics had a negative return on equity of 61.45% and a negative net margin of 4,205.52%. The company had revenue of $2.36 million for the quarter, compared to analyst estimates of $0.49 million. Sell-side analysts anticipate that Revance Therapeutics Inc will post -3.81 earnings per share for the current year.

In other Revance Therapeutics news, insider Cyril Allouche sold 2,188 shares of the company’s stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $23.72, for a total value of $51,899.36. Following the transaction, the insider now directly owns 6,938 shares of the company’s stock, valued at approximately $164,569.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 18.86% of the company’s stock.

Several equities research analysts recently issued reports on the company. Zacks Investment Research raised Revance Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. BidaskClub raised Revance Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. Piper Jaffray Companies reissued a “buy” rating on shares of Revance Therapeutics in a research note on Monday, September 17th. Cantor Fitzgerald reissued a “buy” rating and issued a $50.00 price objective on shares of Revance Therapeutics in a research note on Thursday, November 1st. Finally, ValuEngine downgraded Revance Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. One analyst has rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Revance Therapeutics currently has an average rating of “Buy” and an average target price of $46.50.

ILLEGAL ACTIVITY NOTICE: This report was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2018/12/07/revance-therapeutics-inc-rvnc-shares-sold-by-franklin-resources-inc.html.

Revance Therapeutics Profile

Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacturing, and commercialization of novel botulinum toxin products for various aesthetic and therapeutic indications. The company's drug candidate is DaxibotulinumtoxinA for injection (RT002), which is in phase III clinical trials to treat glabellar (frown) lines, as well as in phase II clinical trials for the treatment of cervical dystonia and plantar fasciitis.

Recommended Story: What are the components of an earnings report?

Want to see what other hedge funds are holding RVNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Revance Therapeutics Inc (NASDAQ:RVNC).

Institutional Ownership by Quarter for Revance Therapeutics (NASDAQ:RVNC)

Receive News & Ratings for Revance Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Revance Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply