New York Life Investment Management LLC Increases Holdings in Revance Therapeutics, Inc. (NASDAQ:RVNC)

New York Life Investment Management LLC lifted its holdings in Revance Therapeutics, Inc. (NASDAQ:RVNC) by 114.9% in the 4th quarter, Holdings Channel reports. The firm owned 295,670 shares of the biopharmaceutical company’s stock after acquiring an additional 158,076 shares during the period. New York Life Investment Management LLC’s holdings in Revance Therapeutics were worth $899,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of RVNC. FORA Capital LLC purchased a new position in shares of Revance Therapeutics in the third quarter worth $54,000. Creative Planning purchased a new position in shares of Revance Therapeutics in the third quarter worth $56,000. Accredited Investors Inc. purchased a new position in shares of Revance Therapeutics in the third quarter worth $67,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Revance Therapeutics in the third quarter worth $88,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Revance Therapeutics in the third quarter worth $108,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Revance Therapeutics Stock Performance

NASDAQ:RVNC opened at $3.65 on Tuesday. The stock has a 50-day simple moving average of $3.49 and a two-hundred day simple moving average of $4.52. Revance Therapeutics, Inc. has a 52-week low of $2.30 and a 52-week high of $7.56. The firm 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 research firms have recently weighed in on RVNC. StockNews.com began coverage on Revance Therapeutics in a research note on Sunday. They issued a “hold” rating for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Revance Therapeutics in a report on Friday, January 17th. Mizuho cut their price objective on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Barclays cut their price objective on Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating for the company in a report on Monday, December 23rd. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $6.60 price objective on shares of Revance Therapeutics in a report on Friday, November 8th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Revance Therapeutics presently has a consensus rating of “Hold” and an average 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.