Revance Therapeutics Sees Unusually High Options Volume (NASDAQ:RVNC)

Revance Therapeutics, Inc. (NASDAQ:RVNC) was the target of some unusual options trading on Monday. Investors purchased 2,392 put options on the company. This is an increase of approximately 144% compared to the average volume of 981 put options.

Institutional Trading of Revance Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Certuity LLC acquired a new stake in shares of Revance Therapeutics in the second quarter valued at approximately $26,000. Creative Planning bought a new position in Revance Therapeutics during the 3rd quarter worth $56,000. Clarity Capital Partners LLC acquired a new position in Revance Therapeutics in the 1st quarter valued at $59,000. Vanguard Personalized Indexing Management LLC acquired a new position in Revance Therapeutics in the 2nd quarter valued at $33,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Revance Therapeutics during the 2nd quarter valued at $38,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RVNC shares. Guggenheim reaffirmed a “neutral” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. HC Wainwright downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Piper Sandler lowered Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. William Blair restated a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Finally, Stifel Nicolaus reduced their price objective on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.29.

Revance Therapeutics Price Performance

NASDAQ:RVNC remained flat at $5.91 during mid-day trading on Wednesday. The company had a trading volume of 72,495 shares, compared to its average volume of 2,740,860. The stock’s fifty day moving average price is $5.82 and its 200-day moving average price is $4.32. The stock has a market cap of $619.49 million, a PE ratio of -1.85 and a beta of 0.98. Revance Therapeutics has a 1-year low of $2.30 and a 1-year high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.12. The firm had revenue of $65.39 million for the quarter, compared to analyst estimates of $66.30 million. During the same period in the prior year, the business posted ($0.80) EPS. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. As a group, equities analysts anticipate that Revance Therapeutics will post -1.53 EPS for the current fiscal year.

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.