Revance Therapeutics, Inc. (NASDAQ:RVNC) Short Interest Down 14.2% in April

Revance Therapeutics, Inc. (NASDAQ:RVNC) was the recipient of a large decline in short interest in 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 daily volume of 1,780,000 shares, the days-to-cover ratio is currently 6.5 days.

Insider Transactions at Revance Therapeutics

In other Revance Therapeutics news, insider Dwight Moxie sold 8,125 shares of Revance Therapeutics stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $5.04, for a total value of $40,950.00. Following the transaction, the insider now owns 137,815 shares in the company, valued at $694,587.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Dwight Moxie sold 8,125 shares of Revance Therapeutics stock in a transaction on Monday, March 18th. The shares were sold at an average price of $5.04, for a total value of $40,950.00. Following the sale, the insider now owns 137,815 shares in the company, valued at $694,587.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Tobin Schilke sold 9,361 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $5.04, for a total value of $47,179.44. Following the transaction, the chief financial officer now owns 192,666 shares in the company, valued at approximately $971,036.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,089 shares of company stock worth $143,642. 5.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Revance Therapeutics by 3.0% during the third quarter. Vanguard Group Inc. now owns 4,791,459 shares of the biopharmaceutical company’s stock worth $54,958,000 after acquiring an additional 138,683 shares during the last quarter. Invesco Ltd. increased its stake in shares of Revance Therapeutics by 66.0% in the third quarter. Invesco Ltd. now owns 2,902,440 shares of the biopharmaceutical company’s stock valued at $33,291,000 after buying an additional 1,153,615 shares in the last quarter. Rubric Capital Management LP bought a new stake in Revance Therapeutics in the 3rd quarter valued at approximately $18,352,000. CIBC Asset Management Inc lifted its position in shares of Revance Therapeutics by 251.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,147,294 shares of the biopharmaceutical company’s stock valued at $10,085,000 after acquiring an additional 820,587 shares during the period. Finally, Wellington Management Group LLP grew its stake in Revance Therapeutics by 3.6% during the third quarter. Wellington Management Group LLP now owns 1,082,420 shares of the biopharmaceutical company’s stock worth $12,415,000 after purchasing an additional 37,131 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

Revance Therapeutics Trading Up 3.3 %

Shares of RVNC stock opened at $3.40 on Monday. Revance Therapeutics has a 12 month low of $3.21 and a 12 month high of $37.98. The firm has a fifty day simple moving average of $4.99 and a two-hundred day simple moving average of $6.45. The firm has a market capitalization of $354.33 million, a PE ratio of -0.90 and a beta of 1.05.

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

Wall Street Analysts Forecast Growth

RVNC has been the topic of a number of recent analyst reports. Barclays cut their price target on shares of Revance Therapeutics from $35.00 to $10.00 and set an “overweight” rating on the stock in a report on Monday, January 29th. Needham & Company LLC reduced 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. HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price on shares of Revance Therapeutics in a report on Thursday, February 29th. Piper Sandler cut their target price on Revance Therapeutics from $42.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. Finally, Mizuho downgraded shares of Revance Therapeutics from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $16.00 to $9.00 in a research note on Monday, January 29th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Revance Therapeutics presently has an average rating of “Hold” and an average target price of $13.75.

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 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.