Magnetar Financial LLC Grows Stock Position in Revance Therapeutics, Inc. (NASDAQ:RVNC)

Magnetar Financial LLC boosted its position in Revance Therapeutics, Inc. (NASDAQ:RVNC) by 2.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,556,345 shares of the biopharmaceutical company’s stock after purchasing an additional 56,174 shares during the period. Magnetar Financial LLC’s holdings in Revance Therapeutics were worth $7,771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 worth $2,424,000 after acquiring an additional 6,462 shares during the period. Rhumbline Advisers boosted its stake in Revance Therapeutics by 5.1% during the fourth quarter. Rhumbline Advisers now owns 142,603 shares of the biopharmaceutical company’s stock valued at $434,000 after buying an additional 6,885 shares during the period. FORA Capital LLC bought a new stake in Revance Therapeutics during the third quarter valued at $54,000. Dynamic Technology Lab Private Ltd bought a new stake in Revance Therapeutics during the third quarter valued at $88,000. Finally, GSA Capital Partners LLP bought a new stake in Revance Therapeutics during the third quarter valued at $108,000. 97.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RVNC has been the subject of several research analyst reports. Mizuho dropped their price objective on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating for the company in a research note on Tuesday, December 10th. Barclays dropped their price target on Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating for the company in a research note on Monday, December 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Revance Therapeutics in a research note on Friday, January 17th. Finally, StockNews.com began coverage on Revance Therapeutics in a research note on Tuesday. They set a “hold” rating for the company. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $8.39.

Revance Therapeutics Stock Performance

RVNC opened at $3.65 on Thursday. The company has a market cap of $381.02 million, a P/E ratio of -1.89 and a beta of 0.90. The business’s 50-day moving average price is $3.61 and its 200-day moving average price is $4.29. Revance Therapeutics, Inc. has a 12 month low of $2.30 and a 12 month high of $6.65.

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.