Revance Therapeutics, Inc. (NASDAQ:RVNC) Short Interest Update

Revance Therapeutics, Inc. (NASDAQ:RVNC) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 7,560,000 shares, a decline 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

A number of analysts have recently issued reports on RVNC shares. Piper Sandler cut shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Stifel Nicolaus reduced their price objective on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a report on Friday, August 9th. Barclays reaffirmed an “equal weight” rating and issued a $7.00 target price (down previously from $10.00) on shares of Revance Therapeutics in a research report on Friday. HC Wainwright cut Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Revance Therapeutics has a consensus rating of “Hold” and a consensus target price of $10.50.

Hedge Funds Weigh In On Revance Therapeutics

Large investors have recently modified their holdings of the business. Victory Capital Management Inc. bought a new stake in Revance Therapeutics during the fourth quarter valued at $93,000. Charles Schwab Investment Management Inc. lifted its position in shares of 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 valued at $5,954,000 after acquiring an additional 13,826 shares during the period. Great Lakes Advisors LLC boosted its stake in Revance Therapeutics by 5.3% during the fourth quarter. Great Lakes Advisors LLC now owns 233,958 shares of the biopharmaceutical company’s stock worth $2,056,000 after acquiring an additional 11,881 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Revance Therapeutics in the fourth quarter worth $240,000. Finally, Trexquant Investment LP bought a new stake in Revance Therapeutics in the fourth quarter valued at $578,000. Institutional investors own 97.70% of the company’s stock.

Revance Therapeutics Price Performance

RVNC traded up $0.28 on Tuesday, hitting $6.25. 1,375,220 shares of the stock were exchanged, compared to its average volume of 2,813,659. The firm has a market capitalization of $652.81 million, a price-to-earnings ratio of -1.64 and a beta of 1.00. Revance Therapeutics has a 12 month low of $2.30 and a 12 month high of $16.98. The business has a 50-day moving average of $5.12 and a two-hundred day moving average of $4.29.

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

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.