Rhenman Partners Asset Management Ab buys $3,082,200 stake in Revance Therapeutics Inc (RVNC)

Revance Therapeutics Inc (RVNC) : Rhenman Partners Asset Management Ab scooped up 50,000 additional shares in Revance Therapeutics Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 220,000 shares of Revance Therapeutics Inc which is valued at $3,082,200.Revance Therapeutics Inc makes up approximately 0.49% of Rhenman Partners Asset Management Ab’s portfolio.

Other Hedge Funds, Including , Alps Advisors Inc boosted its stake in RVNC in the latest quarter, The investment management firm added 8,431 additional shares and now holds a total of 39,990 shares of Revance Therapeutics Inc which is valued at $567,458. Revance Therapeutics Inc makes up approx 0.01% of Alps Advisors Inc’s portfolio.Cutler Group Lp reduced its stake in RVNC by selling 1,208 shares or 15.99% in the most recent quarter. The Hedge Fund company now holds 6,346 shares of RVNC which is valued at $86,686. Revance Therapeutics Inc makes up approx 0.01% of Cutler Group Lp’s portfolio. Bnp Paribas Arbitrage Sa added RVNC to its portfolio by purchasing 980 company shares during the most recent quarter which is valued at $13,024.

Revance Therapeutics Inc closed down -0.31 points or -2.21% at $13.7 with 1,68,277 shares getting traded on Thursday. Post opening the session at $14.01, the shares hit an intraday low of $13.66 and an intraday high of $14.146 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Revance Therapeutics Inc reported $-0.88 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.86. The company had revenue of $.80 million for the quarter, compared to analysts expectations of $.06 million.

Many Wall Street Analysts have commented on Revance Therapeutics Inc. Revance Therapeutics Inc was Downgraded by Brean Capital to ” Hold” on Jun 14, 2016. Shares were Reiterated by Piper Jaffray on Jun 14, 2016 to “Overweight” and Lowered the Price Target to $ 35 from a previous price target of $54 .Shares were Reiterated by SunTrust on Jun 14, 2016 to “Buy” and Lowered the Price Target to $ 22 from a previous price target of $46 .

Revance Therapeutics Inc. is a clinical-stage specialty biopharmaceutical company. The Company is focused on the development manufacturing and commercialization of botulinum toxin products for multiple aesthetic and therapeutic indications. Its TransMTS technology enables delivery of botulinum toxin type A through two dose formulations topical product candidate RT001 and injectable product candidate RT002. RT001 is a non-injectable dose form. RT001 is being studied for aesthetic indications such as crow’s feet lines (wrinkles around the eyes) and therapeutic indications such as hyperhidrosis (excessive sweating). It is in a Phase III development program of RT001 in North America for the treatment of crow’s feet lines. RT002 is an injectable formulation of botulinum toxin designed to be targeted and longer lasting. RT002 is being studied for aesthetic indications such as glabellar (frown) lines and therapeutic uses such as muscle movement disorders.

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