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

Revance Therapeutics, Inc. (NASDAQ:RVNC) was the target of some unusual options trading on Monday. Stock traders bought 6,723 put options on the company. This represents an increase of approximately 962% compared to the average daily volume of 633 put options.

Institutional Investors Weigh In On Revance Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Capital World Investors raised its stake in Revance Therapeutics by 16.8% during the 1st quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock valued at $68,612,000 after buying an additional 2,006,459 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Revance Therapeutics by 342.1% during the 1st quarter. BNP Paribas Financial Markets now owns 211,695 shares of the biopharmaceutical company’s stock valued at $1,042,000 after buying an additional 163,809 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Revance Therapeutics in the fourth quarter worth $93,000. Vanguard Group Inc. raised its position in shares of Revance Therapeutics by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock valued at $26,560,000 after buying an additional 328,781 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Revance Therapeutics by 2.1% in 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 purchasing an additional 13,826 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. HC Wainwright cut shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research 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 note on Friday, August 9th. StockNews.com initiated coverage on Revance Therapeutics in a research report on Sunday. They set a “hold” rating on the stock. William Blair restated a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Finally, Needham & Company LLC cut Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.50.

Revance Therapeutics Stock Performance

Shares of Revance Therapeutics stock opened at $5.97 on Tuesday. Revance Therapeutics has a 52-week low of $2.30 and a 52-week high of $16.98. The stock has a market capitalization of $623.56 million, a P/E ratio of -1.64 and a beta of 1.00. The stock’s 50-day simple moving average is $5.12 and its 200 day simple moving average is $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 (EPS) for the quarter, beating 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. During the same period in the prior year, the business posted ($0.80) EPS. Revance Therapeutics’s quarterly revenue was up 20.2% on a year-over-year basis.

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.