Sio Capital Management LLC Has $4.08 Million Stake in Revance Therapeutics Inc (RVNC)
Sio Capital Management LLC raised its holdings in shares of Revance Therapeutics Inc (NASDAQ:RVNC) by 62.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 164,353 shares of the biopharmaceutical company’s stock after acquiring an additional 63,061 shares during the quarter. Revance Therapeutics makes up 1.4% of Sio Capital Management LLC’s portfolio, making the stock its 23rd largest holding. Sio Capital Management LLC’s holdings in Revance Therapeutics were worth $4,084,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of RVNC. BlackRock Inc. boosted its stake in shares of Revance Therapeutics by 21.6% during the 2nd quarter. BlackRock Inc. now owns 2,931,980 shares of the biopharmaceutical company’s stock worth $80,482,000 after acquiring an additional 521,536 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Revance Therapeutics by 26.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,464,617 shares of the biopharmaceutical company’s stock worth $61,245,000 after acquiring an additional 519,938 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Revance Therapeutics by 26.1% during the 3rd quarter. Alliancebernstein L.P. now owns 1,651,949 shares of the biopharmaceutical company’s stock worth $41,051,000 after acquiring an additional 341,896 shares during the last quarter. Capital International Investors purchased a new position in shares of Revance Therapeutics during the 3rd quarter worth $8,076,000. Finally, FMR LLC boosted its stake in shares of Revance Therapeutics by 223.5% during the 3rd quarter. FMR LLC now owns 350,030 shares of the biopharmaceutical company’s stock worth $8,699,000 after acquiring an additional 241,830 shares during the last quarter. Institutional investors and hedge funds own 92.86% of the company’s stock.
RVNC opened at $21.93 on Thursday. Revance Therapeutics Inc has a fifty-two week low of $19.62 and a fifty-two week high of $37.45. The firm has a market cap of $803.74 million, a P/E ratio of -5.47 and a beta of 1.33.
In related news, insider Cyril Allouche sold 2,188 shares of Revance Therapeutics stock in a transaction on Friday, November 9th. The shares were sold at an average price of $23.72, for a total transaction of $51,899.36. Following the transaction, the insider now owns 6,938 shares in the company, valued at approximately $164,569.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.05% of the stock is currently owned by insiders.
Several brokerages have recently weighed in on RVNC. BidaskClub upgraded shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, September 26th. JMP Securities cut shares of Revance Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, September 17th. Cantor Fitzgerald reiterated a “buy” rating and set a $50.00 price target on shares of Revance Therapeutics in a research note on Friday, September 14th. ValuEngine upgraded shares of Revance Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 5th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of Revance Therapeutics in a research note on Monday, September 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Revance Therapeutics has an average rating of “Buy” and a consensus target price of $45.78.
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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.
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