Revance Therapeutics, Inc. (NASDAQ:RVNC) Short Interest Up 24.7% in March

Revance Therapeutics, Inc. (NASDAQ:RVNC - Get Free Report) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 13,550,000 shares, a growth of 24.7% from the March 15th total of 10,870,000 shares. Based on an average daily volume of 1,810,000 shares, the days-to-cover ratio is currently 7.5 days.

Insider Transactions at Revance Therapeutics

In other news, President Dustin S. Sjuts sold 9,211 shares of the business's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $5.04, for a total transaction of $46,423.44. Following the completion of the sale, the president now owns 167,550 shares in the company, valued at approximately $844,452. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Dustin S. Sjuts sold 9,211 shares of the business's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $5.04, for a total transaction of $46,423.44. Following the transaction, the president now directly owns 167,550 shares of the company's stock, valued at approximately $844,452. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Tobin Schilke sold 9,361 shares of the business's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $5.04, for a total value of $47,179.44. Following the transaction, the chief financial officer now directly owns 192,666 shares in the company, valued at $971,036.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,697 shares of company stock worth $134,553. 5.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. grew its stake in Revance Therapeutics by 63.2% during the 3rd quarter. Assetmark Inc. now owns 3,257 shares of the biopharmaceutical company's stock worth $37,000 after buying an additional 1,261 shares during the last quarter. Money Concepts Capital Corp bought a new position in Revance Therapeutics during the 4th quarter worth $40,000. Comerica Bank bought a new position in Revance Therapeutics during the 3rd quarter worth $40,000. Advisor Group Holdings Inc. grew its stake in Revance Therapeutics by 60.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,838 shares of the biopharmaceutical company's stock worth $56,000 after buying an additional 1,071 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Revance Therapeutics by 626.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,823 shares of the biopharmaceutical company's stock worth $60,000 after buying an additional 5,884 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

Revance Therapeutics Stock Performance

Shares of NASDAQ RVNC traded down $0.31 during trading on Friday, reaching $4.13. The stock had a trading volume of 1,578,349 shares, compared to its average volume of 1,432,148. Revance Therapeutics has a one year low of $4.10 and a one year high of $37.98. The stock has a market cap of $430.43 million, a PE ratio of -1.09 and a beta of 1.05. The firm's 50 day moving average price is $5.36 and its two-hundred day moving average price is $7.02.

Revance Therapeutics (NASDAQ:RVNC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, beating analysts' consensus estimates of ($0.79) by $0.17. The firm had revenue of $69.80 million during the quarter, compared to the consensus estimate of $64.02 million. On average, research analysts expect that Revance Therapeutics will post -2.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RVNC shares. Needham & Company LLC reduced their price target on Revance Therapeutics from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, February 29th. The Goldman Sachs Group boosted their price target on Revance Therapeutics from $8.00 to $9.00 and gave the stock a "neutral" rating in a research report on Friday, March 1st. Barclays cut their target price on Revance Therapeutics from $35.00 to $10.00 and set an "overweight" rating on the stock in a research report on Monday, January 29th. Mizuho lowered Revance Therapeutics from a "buy" rating to a "neutral" rating and cut their target price for the company from $16.00 to $9.00 in a research report on Monday, January 29th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $12.00 target price on shares of Revance Therapeutics in a research report on Thursday, February 29th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $13.75.

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.

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