Revance Therapeutics, Inc. (NASDAQ:RVNC) Short Interest Down 18.4% in August

Revance Therapeutics, Inc. (NASDAQ:RVNC) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 7,560,000 shares, a drop of 18.4% from the August 15th total of 9,260,000 shares. Based on an average daily volume of 3,890,000 shares, the days-to-cover ratio is presently 1.9 days.

Wall Street Analysts Forecast Growth

RVNC has been the subject of a number of recent research reports. Needham & Company LLC downgraded shares of Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 13th. Stifel Nicolaus decreased their target price 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. HC Wainwright lowered shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 13th. Guggenheim reaffirmed a “neutral” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Finally, StockNews.com initiated coverage on Revance Therapeutics in a research report on Sunday. They issued a “hold” rating for the company. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.50.

Revance Therapeutics Stock Performance

Shares of RVNC opened at $6.55 on Monday. The stock has a 50-day moving average of $5.05 and a two-hundred day moving average of $4.29. The stock has a market cap of $686.57 million, a P/E ratio of -1.80 and a beta of 1.00. Revance Therapeutics has a one year low of $2.30 and a one year high of $17.59.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.12. The firm had revenue of $65.39 million during the quarter, compared to analysts’ expectations of $66.30 million. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.80) earnings per share.

Institutional Trading of Revance Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. acquired a new stake in shares of Revance Therapeutics in the fourth quarter worth $93,000. Charles Schwab Investment Management Inc. grew its position in Revance Therapeutics by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 677,364 shares of the biopharmaceutical company’s stock worth $5,954,000 after purchasing an additional 13,826 shares during the period. Great Lakes Advisors LLC grew its position in Revance Therapeutics by 5.3% during the 4th quarter. Great Lakes Advisors LLC now owns 233,958 shares of the biopharmaceutical company’s stock worth $2,056,000 after purchasing an additional 11,881 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Revance Therapeutics during the 4th quarter valued at about $240,000. Finally, Trexquant Investment LP acquired a new position in shares of Revance Therapeutics in the 4th quarter valued at about $578,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.