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Jennison Associates LLC sells 683,468 Revance Therapeutics, Inc. shares (NASDAQ:RVNC)

Jennison Associates LLC sells 683,468 Revance Therapeutics, Inc. shares (NASDAQ:RVNC)

The most recent 13F filing that Jennison Associates LLC had with the Securities and Exchange Commission revealed that during the third quarter of 2018, the company’s holdings in Revance Therapeutics, Inc. (NASDAQ: RVNC) were reduced by 38.9%. (SEC). The corporation finished the period with 1,072,235 shares of the biopharmaceutical company’s stock after selling 683,468 shares of the company’s stock earlier in the period. Jennison Associates LLC held a stake in Revance Therapeutics at the end of the most recent reporting period, equivalent to 1.47% of the company’s total value, which was $28,950,000.

Hedge funds and other types of institutional investors have been increasing the percentage of their holdings invested in the company over the past few months. The amount of Revance Therapeutics stock that Advisor Group Holdings Inc. owned as of the end of the first quarter of 2018 increased by 60.6% from the beginning of the year. Advisor Group Holdings Inc. now has 2,838 shares of the biopharmaceutical company’s stock, valued at $56,000, after purchasing an additional 1,071 shares throughout the most recent period. Point72 Hong Kong Ltd. made a new investment in Revance Therapeutics for $92,000 during the year’s second quarter. In the third quarter, Handelsbanken Fonder AB started a new holding of Revance Therapeutics worth 256,000 Swedish kronor. Carnegie Capital Asset Management LLC started a new position in Revance Therapeutics during the second quarter, investing $290,000. Last but not least, during the second quarter, the value of the investment that Revance Therapeutics had made in Scientist Management LP went from being worth nothing to be worth the same as $165,000. Financial institutions currently own a total of 82.68% of the company’s shares.

In other news about this topic, Chief Financial Officer Tobin Schilke of Revance Therapeutics sold 3,701 shares of the company’s stock on January 9. It was determined that each share was sold at an average price of $27.16, which brought the total amount of the sale to $100,519,16. Following the conclusion of the transaction, the chief financial officer now has a direct ownership stake in 58,877 shares of the company’s common stock. The CFO has an approximate value of $1,599,099.32 as a result of this, taking into account the stock’s current price. The transaction was disclosed to the public through a filing that was made with the SEC, which can be located on the website of the SEC. 5.10 corporate insiders hold a percent of the total number of shares in the corporation.

NASDAQ: RVNC was first available for trading on Tuesday, with an opening price of $27.92. Revance Therapeutics, Inc. hit a low point over the past year of operations of $11.27, while the company reached a high point over the past year of operations of $30.95. The quick ratio for the company is 5.33; the current ratio for the company is 5.56; and the debt-to-equity ratio is 2.60. The company’s 50-day simple moving average is $21.89, and its 200-day simple moving average is also $21.69. The company’s debt-to-equity ratio is 2.60. Both of these ratios are considered to be on the high side.

Tuesday, November 8, was the day that Revance Therapeutics (NASDAQ: RVNC) disclosed the outcomes of its most recent quarterly financial report to the public. The biopharmaceutical company’s profits per share for the quarter came in at $1.17, which was lower than the consensus forecast of $0.85 that was made by analysts, which was $0.32 lower than what was achieved. Revance Therapeutics reported a negative return on equity of 461.54% and a negative net margin of 251.92% in its financial statements. The sales for the company came in at $29.02 million for the quarter, which is a significant


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