Revance Therapeutics, Inc. (NASDAQ:RVNC) Sees Significant Decline in Short Interest

Revance Therapeutics, Inc. (NASDAQ:RVNC) was the target of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 11,630,000 shares, a decline of 14.2% from the March 31st total of 13,550,000 shares. Based on an average trading volume of 1,780,000 shares, the short-interest ratio is presently 6.5 days.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price on shares of Revance Therapeutics in a research report on Thursday, February 29th. Barclays decreased their target price on Revance Therapeutics from $35.00 to $10.00 and set an “overweight” rating for the company in a research report on Monday, January 29th. The Goldman Sachs Group increased their price target on Revance Therapeutics from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Needham & Company LLC decreased their price objective on Revance Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Finally, Piper Sandler dropped their target price on shares of Revance Therapeutics from $42.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Revance Therapeutics presently has a consensus rating of “Hold” and an average target price of $13.75.

Revance Therapeutics Price Performance

Shares of RVNC stock opened at $3.69 on Tuesday. The stock’s 50-day moving average is $4.95 and its 200 day moving average is $6.42. Revance Therapeutics has a 1-year low of $3.21 and a 1-year high of $37.98. The company has a market cap of $384.57 million, a P/E ratio of -0.97 and a beta of 1.06.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.17. The firm had revenue of $69.80 million during the quarter, compared to analysts’ expectations of $64.02 million. On average, analysts anticipate that Revance Therapeutics will post -2.17 EPS for the current year.

Insider Buying and Selling at Revance Therapeutics

In related news, President Dustin S. Sjuts sold 9,211 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $5.04, for a total value of $46,423.44. Following the sale, the president now directly owns 167,550 shares of the company’s stock, valued at approximately $844,452. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Dwight Moxie sold 8,125 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $5.04, for a total transaction of $40,950.00. Following the completion of the sale, the insider now directly owns 137,815 shares of the company’s stock, valued at $694,587.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Dustin S. Sjuts sold 9,211 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $5.04, for a total transaction of $46,423.44. Following the completion of the transaction, the president now owns 167,550 shares in the company, valued at $844,452. The disclosure for this sale can be found here. Insiders have sold 29,089 shares of company stock worth $143,642 over the last quarter. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Revance Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Legato Capital Management LLC lifted its holdings in shares of Revance Therapeutics by 48.8% during the 4th quarter. Legato Capital Management LLC now owns 57,652 shares of the biopharmaceutical company’s stock valued at $507,000 after purchasing an additional 18,903 shares during the last quarter. Vanguard Group Inc. raised its stake in Revance Therapeutics by 3.0% in the third quarter. Vanguard Group Inc. now owns 4,791,459 shares of the biopharmaceutical company’s stock valued at $54,958,000 after buying an additional 138,683 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Revance Therapeutics by 55.2% in the third quarter. Principal Financial Group Inc. now owns 963,029 shares of the biopharmaceutical company’s stock worth $11,046,000 after acquiring an additional 342,540 shares in the last quarter. DNB Asset Management AS grew its stake in shares of Revance Therapeutics by 44.7% during the fourth quarter. DNB Asset Management AS now owns 34,652 shares of the biopharmaceutical company’s stock worth $305,000 after acquiring an additional 10,706 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Revance Therapeutics during the third quarter valued at about $4,749,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

About Revance Therapeutics

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 DAXXIFY (DaxibotulinumtoxinA-lanm) for injection for the treatment of glabellar lines and cervical dystonia; has completed 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.