Investors Purchase Large Volume of Put Options on Revance Therapeutics (NASDAQ:RVNC)

Revance Therapeutics, Inc. (NASDAQ:RVNC) was the target of some unusual options trading activity on Tuesday. Stock traders acquired 6,905 put options on the company. This represents an increase of approximately 136% compared to the average volume of 2,926 put options.

Institutional Trading of Revance Therapeutics

Hedge funds have recently modified their holdings of the stock. FORA Capital LLC bought a new position in Revance Therapeutics in the 3rd quarter valued at about $54,000. Creative Planning bought a new stake in shares of Revance Therapeutics during the 3rd quarter valued at approximately $56,000. Vanguard Personalized Indexing Management LLC bought a new stake in Revance Therapeutics during the 2nd quarter worth approximately $33,000. Accredited Investors Inc. bought a new stake in Revance Therapeutics during the 3rd quarter worth approximately $67,000. Finally, Hsbc Holdings PLC bought a new stake in Revance Therapeutics during the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

RVNC has been the topic of several recent analyst reports. StockNews.com began coverage on shares of Revance Therapeutics in a report on Tuesday. They issued a “hold” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a research report on Friday, January 17th. Barclays reduced their price target on shares of Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Monday, December 23rd. HC Wainwright reaffirmed a “neutral” rating and issued a $6.60 target price on shares of Revance Therapeutics in a research note on Friday, November 8th. Finally, Mizuho dropped their target price on shares of Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating for the company in a research note on Tuesday, December 10th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $8.39.

Revance Therapeutics Stock Down 0.3 %

Revance Therapeutics stock opened at $3.67 on Wednesday. The stock has a market capitalization of $383.11 million, a PE ratio of -1.90 and a beta of 0.86. Revance Therapeutics has a twelve month low of $2.30 and a twelve month high of $7.56. The company has a 50 day moving average of $3.47 and a 200-day moving average of $4.57.

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