Revance Therapeutics Target of Unusually High Options Trading (NASDAQ:RVNC)

Revance Therapeutics, Inc. (NASDAQ:RVNC) was the target of unusually large options trading activity on Monday. Investors acquired 6,723 put options on the stock. This represents an increase of approximately 962% compared to the typical volume of 633 put options.

Institutional Trading of Revance Therapeutics

Several institutional investors have recently added to or reduced their stakes in RVNC. Certuity LLC bought a new stake in shares of Revance Therapeutics during the second quarter valued at about $26,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Revance Therapeutics during the second quarter valued at approximately $33,000. Hsbc Holdings PLC acquired a new stake in Revance Therapeutics during the 2nd quarter valued at $38,000. Nisa Investment Advisors LLC raised its position in shares of Revance Therapeutics by 2,167.5% in the second quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 18,077 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Revance Therapeutics by 52.5% in the second quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 7,628 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

Revance Therapeutics Trading Down 15.3 %

Shares of RVNC traded down $1.00 during midday trading on Monday, reaching $5.55. 11,104,958 shares of the company were exchanged, compared to its average volume of 2,762,609. The company has a market cap of $581.75 million, a price-to-earnings ratio of -1.68 and a beta of 1.00. Revance Therapeutics has a 1-year low of $2.30 and a 1-year high of $16.98. The stock has a 50-day moving average price of $5.05 and a 200-day moving average price of $4.29.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates 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. During the same period in the previous year, the company earned ($0.80) earnings per share. The business’s quarterly revenue was up 20.2% on a year-over-year basis.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Guggenheim reiterated a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Piper Sandler cut shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. StockNews.com began coverage on Revance Therapeutics in a report on Sunday. They issued a “hold” rating for the company. Needham & Company LLC downgraded Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, HC Wainwright cut shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.50.

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.