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

Revance Therapeutics, Inc. (NASDAQ:RVNC) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 9,770,000 shares, a decline 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 short-interest ratio is presently 3.9 days.

Revance Therapeutics Stock Down 0.6 %

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

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Revance Therapeutics

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

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.