Revance Therapeutics (NASDAQ:RVNC) Sees Unusually-High Trading Volume

Revance Therapeutics, Inc. (NASDAQ:RVNC) shares saw strong trading volume on Monday . 2,491,510 shares changed hands during trading, a decline of 8% from the previous session’s volume of 2,718,807 shares.The stock last traded at $6.39 and had previously closed at $6.55.

Analyst Ratings Changes

RVNC has been the topic of several research analyst reports. Needham & Company LLC cut shares of Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 13th. HC Wainwright lowered shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 13th. Guggenheim restated a “neutral” rating on shares of Revance Therapeutics in a report on Monday, August 12th. William Blair reiterated a “market perform” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Finally, Stifel Nicolaus dropped their price target on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.50.

Revance Therapeutics Stock Down 10.2 %

The stock has a 50 day simple moving average of $5.05 and a 200 day simple moving average of $4.29. The company has a market cap of $616.34 million, a price-to-earnings ratio of -1.68 and a beta of 1.00.

Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.12. The company had revenue of $65.39 million for the quarter, compared to analyst estimates of $66.30 million. During the same period last year, the firm posted ($0.80) earnings per share. The business’s revenue was up 20.2% on a year-over-year basis.

Institutional Investors Weigh In On Revance Therapeutics

A number of large investors have recently added to or reduced their stakes in RVNC. Capital World Investors boosted its position in Revance Therapeutics by 16.8% in the 1st quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock valued at $68,612,000 after buying an additional 2,006,459 shares during the last quarter. Vanguard Group Inc. grew its stake in Revance Therapeutics by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock valued at $26,560,000 after purchasing an additional 328,781 shares in the last quarter. Stonepine Capital Management LLC grew its stake in Revance Therapeutics by 41.7% during the 2nd quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock valued at $7,196,000 after purchasing an additional 823,658 shares in the last quarter. Federated Hermes Inc. increased its holdings in Revance Therapeutics by 43.0% during the 2nd quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock worth $5,750,000 after purchasing an additional 672,803 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Revance Therapeutics by 251.2% in 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 purchasing an additional 820,587 shares in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

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.