Revance Therapeutics Inc (NASDAQ:RVNC) Short Interest Update

Revance Therapeutics Inc (NASDAQ:RVNC) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 5,830,000 shares, a growth of 6.0% from the October 31st total of 5,500,000 shares. Based on an average daily trading volume, of 373,800 shares, the days-to-cover ratio is presently 15.6 days. Approximately 15.0% of the shares of the company are sold short.

Shares of RVNC stock opened at $17.90 on Friday. The business’s 50 day moving average is $15.45 and its two-hundred day moving average is $12.87. Revance Therapeutics has a twelve month low of $9.88 and a twelve month high of $24.99. The company has a market capitalization of $783.98 million, a P/E ratio of -4.54 and a beta of 1.17. The company has a current ratio of 6.46, a quick ratio of 6.46 and a debt-to-equity ratio of 0.18.

Revance Therapeutics (NASDAQ:RVNC) last announced its earnings results on Monday, November 4th. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, meeting the consensus estimate of ($0.96). Revance Therapeutics had a negative return on equity of 87.59% and a negative net margin of 3,745.97%. The company had revenue of $0.05 million for the quarter, compared to the consensus estimate of $0.40 million. As a group, equities analysts predict that Revance Therapeutics will post -3.64 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Revance Therapeutics by 7.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,249,144 shares of the biopharmaceutical company’s stock valued at $29,172,000 after purchasing an additional 146,444 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Revance Therapeutics by 47.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,330,973 shares of the biopharmaceutical company’s stock valued at $17,263,000 after buying an additional 428,900 shares during the period. Rice Hall James & Associates LLC lifted its holdings in shares of Revance Therapeutics by 22.2% in the 3rd quarter. Rice Hall James & Associates LLC now owns 1,078,697 shares of the biopharmaceutical company’s stock valued at $14,023,000 after buying an additional 195,928 shares during the period. State Street Corp lifted its holdings in shares of Revance Therapeutics by 8.8% in the 3rd quarter. State Street Corp now owns 1,022,121 shares of the biopharmaceutical company’s stock valued at $13,288,000 after buying an additional 83,049 shares during the period. Finally, Bamco Inc. NY lifted its holdings in shares of Revance Therapeutics by 24.7% in the 2nd quarter. Bamco Inc. NY now owns 635,200 shares of the biopharmaceutical company’s stock valued at $8,239,000 after buying an additional 126,000 shares during the period. Institutional investors own 94.52% of the company’s stock.

A number of research firms recently issued reports on RVNC. William Blair restated an “outperform” rating on shares of Revance Therapeutics in a research note on Tuesday, August 6th. Zacks Investment Research downgraded Revance Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Mizuho reiterated a “buy” rating and issued a $34.00 target price on shares of Revance Therapeutics in a research note on Tuesday, November 5th. BidaskClub upgraded Revance Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, HC Wainwright set a $23.00 target price on Revance Therapeutics and gave the company a “buy” rating in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $28.29.

Revance Therapeutics Company Profile

Revance Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development, manufacture, and commercialization of novel neuromodulators for various aesthetic and therapeutic indications. The company's lead drug candidate is DaxibotulinumtoxinA for injection (DAXI), which is in phase III clinical trials to treat glabellar (frown) lines and cervical dystonia; and in phase II clinical trials for the treatment of plantar fasciitis, adult upper limb spasticity, and chronic migraine.

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