Stock Traders Purchase Large Volume of Revance Therapeutics Put Options (NASDAQ:RVNC)

Revance Therapeutics, Inc. (NASDAQ:RVNC) was the target of some unusual options trading on Monday. Investors acquired 3,748 put options on the stock. This is an increase of approximately 115% compared to the average daily volume of 1,742 put options.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Certuity LLC purchased a new stake in shares of Revance Therapeutics during the 2nd quarter worth about $26,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Revance Therapeutics in the second quarter valued at approximately $33,000. Hsbc Holdings PLC bought a new stake in Revance Therapeutics in the second quarter worth approximately $38,000. Nisa Investment Advisors LLC increased its stake in shares of Revance Therapeutics by 2,167.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 18,077 shares during the last quarter. Finally, FORA Capital LLC acquired a new position in shares of Revance Therapeutics during the 3rd quarter worth $54,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Revance Therapeutics Stock Down 20.7 %

Shares of Revance Therapeutics stock opened at $3.03 on Tuesday. Revance Therapeutics has a 12 month low of $2.30 and a 12 month high of $9.74. The stock has a market cap of $317.85 million, a PE ratio of -1.57 and a beta of 0.82. The business has a fifty day simple moving average of $4.73 and a 200-day simple moving average of $4.48.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The business had revenue of $59.88 million during the quarter, compared to analysts’ expectations of $67.73 million. Analysts expect that Revance Therapeutics will post -1.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RVNC. Needham & Company LLC reaffirmed a “hold” rating on shares of Revance Therapeutics in a research note on Friday, November 8th. Guggenheim restated a “neutral” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Piper Sandler downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. HC Wainwright reissued a “neutral” rating and set a $6.60 price objective on shares of Revance Therapeutics in a research note on Friday, November 8th. Finally, William Blair reaffirmed a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.66.

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.