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

Revance Therapeutics, Inc. (NASDAQ:RVNC) saw a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 9,770,000 shares, a decrease of 23.1% from the November 30th total of 12,700,000 shares. Based on an average daily volume of 2,500,000 shares, the days-to-cover ratio is currently 3.9 days.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Mizuho dropped their price target on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating for the company in a report on Tuesday, December 10th. StockNews.com began coverage on Revance Therapeutics in a research report on Saturday. They set a “hold” rating on the stock. HC Wainwright reissued a “neutral” rating and issued a $6.60 target price on shares of Revance Therapeutics in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Revance Therapeutics in a research report on Friday, November 8th. Finally, Barclays dropped their price objective on shares of Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating for the company in a research note on Monday, December 23rd. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $8.39.

Revance Therapeutics Stock Down 0.6 %

Shares of NASDAQ:RVNC traded down $0.02 during midday trading on Friday, hitting $3.06. The stock had a trading volume of 1,162,265 shares, compared to its average volume of 2,788,818. The company’s 50-day moving average price is $4.12 and its 200-day moving average price is $4.50. Revance Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $9.74. The company has a market capitalization of $319.43 million, a P/E ratio of -1.59 and a beta of 0.81.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The business had revenue of $59.88 million for the quarter, compared to analyst estimates of $67.73 million. Research analysts expect that Revance Therapeutics will post -1.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Revance Therapeutics

Institutional investors have recently modified their holdings of the business. Arizona State Retirement System grew its position in Revance Therapeutics by 27.6% in the second quarter. Arizona State Retirement System now owns 27,716 shares of the biopharmaceutical company’s stock valued at $71,000 after acquiring an additional 5,996 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Revance Therapeutics by 52.5% during the 2nd quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 7,628 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Revance Therapeutics by 64.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,161 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 7,890 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Revance Therapeutics by 29.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,296 shares of the biopharmaceutical company’s stock valued at $109,000 after purchasing an additional 9,601 shares during the last quarter. Finally, Certuity LLC acquired a new stake in Revance Therapeutics in the second quarter valued at approximately $26,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.