Fintel reports that Jpmorgan Chase & Co has filed a 13G/A form with the SEC disclosing ownership of 4.98MM shares of Revance Therapeutics Inc (RVNC). This represents 6.0% of the company.
In their previous filing dated January 18, 2022 they reported 6.79MM shares and 9.40% of the company, a decrease in shares of 26.66% and a decrease in total ownership of 3.40% (calculated as current – previous percent ownership).
Analyst Price Forecast Suggests -0.65% Downside
As of January 27, 2023, the average one-year price target for Revance Therapeutics is $33.66. The forecasts range from a low of $19.19 to a high of $68.25. The average price target represents a decrease of -0.65% from its latest reported closing price of $33.88.
The projected annual revenue for Revance Therapeutics is $220MM, an increase of 102.92%. The projected annual EPS is $-3.53.
Fund Sentiment
There are 389 funds or institutions reporting positions in Revance Therapeutics Inc. This is an increase of 41 owner(s) or 11.78%.
Average portfolio weight of all funds dedicated to US:RVNC is 0.1974%, an increase of 69.3365%. Total shares owned by institutions increased in the last three months by 21.60% to 85,872K shares.
What are large shareholders doing?
Capital World Investors holds 8,048,838 shares representing 9.78% ownership of the company. In it’s prior filing, the firm reported owning 4,590,000 shares, representing an increase of 42.97%. The firm increased its portfolio allocation in RVNC by 262.06% over the last quarter.
SMCWX – SMALLCAP WORLD FUND INC Class A holds 6,313,932 shares representing 7.67% ownership of the company. In it’s prior filing, the firm reported owning 4,590,000 shares, representing an increase of 27.30%. The firm increased its portfolio allocation in RVNC by 181.03% over the last quarter.
Polar Capital Holdings Plc holds 4,461,747 shares representing 5.42% ownership of the company. In it’s prior filing, the firm reported owning 3,117,052 shares, representing an increase of 30.14%. The firm increased its portfolio allocation in RVNC by 203.40% over the last quarter.
Palo Alto Investors LP holds 4,405,039 shares representing 5.35% ownership of the company. No change in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,420,467 shares representing 2.94% ownership of the company. In it’s prior filing, the firm reported owning 2,020,705 shares, representing an increase of 16.52%. The firm increased its portfolio allocation in RVNC by 143.94% over the last quarter.
Revance Therapeutics Inc Background Information
(This description is provided by the company.)
Revance Therapeutics, Inc. is a biotechnology company focused on innovative aesthetic and therapeutic offerings, including its next-generation neuromodulator product, DaxibotulinumtoxinA for Injection. DaxibotulinumtoxinA for Injection combines a proprietary stabilizing peptide excipient with a highly purified botulinum toxin that does not contain human or animal-based components. Revance has successfully completed a Phase 3 program for DaxibotulinumtoxinA for Injection in glabellar (frown) lines and is pursuing U.S. regulatory approval. Revance is also evaluating DaxibotulinumtoxinA for Injection in the full upper face, including glabellar lines, forehead lines and crow’s feet, as well as in two therapeutic indications – cervical dystonia and adult upper limb spasticity. To accompany DaxibotulinumtoxinA for Injection, Revance owns a unique portfolio of premium products and services for U.S. aesthetics practices, including the exclusive U.S. distribution rights to the RHA® Collection of dermal fillers, the first and only range of FDA-approved fillers for correction of dynamic facial wrinkles and folds, and the HintMD fintech platform, which provides an integrated smart payment solution that supports aesthetic practice management, practice economics and practice loyalty. Revance has also partnered with Viatris (formerly Mylan N.V.) to develop a biosimilar to BOTOX®, which would compete in the existing short-acting neuromodulator marketplace. Revance is dedicated to making a difference by transforming patient experiences.
This article originally appeared on Fintel
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