Revance Therapeutics (NASDAQ:RVNC) Trading Down 6.3%

Revance Therapeutics, Inc. (NASDAQ:RVNC)’s stock price fell 6.3% during mid-day trading on Thursday . The stock traded as low as $6.48 and last traded at $6.58. 101,136 shares were traded during trading, a decline of 94% from the average session volume of 1,631,000 shares. The stock had previously closed at $7.02.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RVNC. Morgan Stanley cut their target price on Revance Therapeutics from $25.00 to $12.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 11th. StockNews.com began coverage on Revance Therapeutics in a research report on Thursday, October 5th. They set a “hold” rating for the company. Piper Sandler cut their target price on Revance Therapeutics from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, November 9th. BNP Paribas upgraded Revance Therapeutics from an “underperform” rating to a “neutral” rating and set a $20.00 price target for the company in a report on Wednesday, August 16th. Finally, Barclays cut their price target on Revance Therapeutics from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, October 23rd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.44.

Revance Therapeutics Price Performance

The company has a current ratio of 4.73, a quick ratio of 4.17 and a debt-to-equity ratio of 14.20. The firm has a market capitalization of $638.38 million, a P/E ratio of -1.46 and a beta of 0.92. The firm has a 50 day moving average price of $10.25 and a 200-day moving average price of $20.21.

Insider Buying and Selling

In related news, SVP Dwight Moxie sold 23,853 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $17.81, for a total transaction of $424,821.93. Following the completion of the sale, the senior vice president now directly owns 55,066 shares of the company’s stock, valued at approximately $980,725.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Revance Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Revance Therapeutics by 3.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,327 shares of the biopharmaceutical company’s stock valued at $461,000 after purchasing an additional 456 shares in the last quarter. Baird Financial Group Inc. raised its position in Revance Therapeutics by 0.9% during the 4th quarter. Baird Financial Group Inc. now owns 59,560 shares of the biopharmaceutical company’s stock valued at $1,100,000 after purchasing an additional 516 shares in the last quarter. Metropolitan Life Insurance Co NY raised its position in Revance Therapeutics by 15.7% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 4,992 shares of the biopharmaceutical company’s stock valued at $92,000 after purchasing an additional 677 shares in the last quarter. Centaurus Financial Inc. raised its position in Revance Therapeutics by 4.5% during the 1st quarter. Centaurus Financial Inc. now owns 15,881 shares of the biopharmaceutical company’s stock valued at $512,000 after purchasing an additional 688 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Revance Therapeutics by 1.9% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,731 shares of the biopharmaceutical company’s stock valued at $955,000 after purchasing an additional 689 shares in the last quarter. 93.28% of the stock is owned by institutional investors.

Revance Therapeutics Company Profile

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 DaxibotulinumtoxinA for injection, which has completed phase III clinical trials for the treatment of glabellar (frown) lines and cervical dystonia; is in 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.