On September 19, 2023, Harbor Capital Advisors Inc. announced its acquisition of a new stake in the shares of Revance Therapeutics, Inc. During the second quarter, the firm purchased 31,692 shares of this biopharmaceutical company’s stock. The estimated value of this investment is approximately $802,000.
Revance Therapeutics, Inc., listed on NASDAQ under the ticker symbol RVNC, opened at a price of $16.70 on Tuesday. The company’s stock performance has been observed over specific periods such as the fifty-day simple moving average of $19.88 and the two-hundred-day simple moving average of $26.96. In the past year, Revance Therapeutics has experienced fluctuations in its stock value with a low point of $15.13 and a high point of $37.98.
When assessing a company’s financial standing and stability, it is important to examine its debt-to-equity ratio and liquidity ratios. As per available information from filing reports, Revance Therapeutics has a debt-to-equity ratio of 14.20, indicating relatively higher levels of debt compared to equity. Additionally, their current ratio stands at 5.12 and the quick ratio is at 4.65.
Harbor Capital Advisors Inc.’s decision to invest in Revance Therapeutics reflects their confidence in the company’s potential for growth and success within the biopharmaceutical industry. By acquiring a stake in this emerging player, Harbor Capital Advisors aims to benefit from any positive developments or advancements made by Revance Therapeutics in the future.
Investors interested in tracking Revance Therapeutics can access real-time updates regarding their stock performance on various financial platforms or through brokerage accounts that offer market data services for individual investors.
It is essential for investors to conduct thorough research and analyze all available information before making any investment decisions regarding individual stocks or companies like Revance Therapeutics, Inc. Financial markets are subject to fluctuations and uncertainties, and past performance does not guarantee future results.
Hamilton Lane Incorporated
HLNE
Strong Buy
Updated on: 19/09/2023
Financial Health
Very Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Hedge Funds and Insiders Show Confidence in Revance Therapeutics as Share Ownership and Insider Trading Activity Increase
Revance Therapeutics, a biopharmaceutical company listed on the NASDAQ under the ticker symbol RVNC, has seen several hedge funds add to or reduce their stakes in the business recently. This influx of interest from hedge funds showcases the intrigue and potential value that Revance Therapeutics holds.
In early 2023, Washington Trust Co purchased a new stake in the shares of Revance Therapeutics worth $36,000. Similarly, Money Concepts Capital Corp acquired a new stake during the previous year valued at $40,000. Signaturefd LLC also increased its holdings in Revance Therapeutics by an astounding 792.9% during the first quarter of 2023. Signaturefd LLC now owns 1,393 shares worth $45,000. Advisor Group Holdings Inc., another institutional investor, grew its holdings by 60.6% and now possesses 2,838 shares valued at $56,000. Lastly, IFP Advisors Inc demonstrated significant growth after acquiring an additional 2,000 shares of Revance Therapeutics stock during the first quarter.
These investments made by hedge funds and other institutional investors demonstrate their confidence in Revance Therapeutics and its potential for growth. As of now, these entities collectively own approximately 93.28% of the company’s stock.
Apart from these developments surrounding share ownership, there have also been notable insider trading activities within Revance Therapeutics. SVP Dwight Moxie sold 23,853 shares on September 5th for a total value of $424,821.93 at an average price of $17.81 per share. Following this transaction, Moxie’s overall ownership in the company stands at 55,066 shares with an estimated value close to $1 million.
Furthermore, CFO Tobin Schilke sold 1,701 shares on July 3rd for a total value of $42,593.04 at an average price of $25.04 per share. After this sale, Schilke now owns approximately 79,896 shares worth around $2 million.
These insider trades have been disclosed in legal filings with the Securities and Exchange Commission (SEC) and can be accessed publicly.
In terms of financial performance, Revance Therapeutics recently released its earnings results for the quarter ending August 8th, 2023. The company reported an EPS (earnings per share) of ($0.80), missing analysts’ consensus estimates of ($0.72) by a difference of ($0.08). Their negative return on equity stands at a staggering 903.28%, while their negative net margin is at 191.93%. Despite these figures, Revance Therapeutics saw its revenue increase to $58.13 million for the second quarter, up by 104.9% compared to the same period last year.
Looking ahead, research analysts anticipate that Revance Therapeutics will post an EPS of -$2.8 for the current year.
Several brokerages have provided their take on RVNC stock recently as well. For instance, BNP Paribas upgraded Revance Therapeutics from an “underperform” rating to a “neutral” rating and set a price target of $20.00 for the company’s stock back in mid-August.
Similarly, Needham & Company LLC lowered their price target to $40.00 from $44.00 while maintaining a “buy” rating on Revance Therapeutics shares in early August.
Other noteworthy ratings include StockNews.com’s initiation coverage with a “hold” rating and Mizuho boosting their target price to $35.00 from $33.
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