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

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

Revance Therapeutics Trading Down 15.3 %

RVNC traded down $1.00 on Monday, reaching $5.55. The stock had a trading volume of 11,104,958 shares, compared to its average volume of 2,762,609. The business’s 50-day moving average price is $5.05 and its two-hundred day moving average price is $4.29. The company has a market cap of $581.75 million, a P/E ratio of -1.68 and a beta of 1.00. Revance Therapeutics has a 12-month low of $2.30 and a 12-month high of $16.98.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.12. The firm had revenue of $65.39 million during the quarter, compared to analyst estimates of $66.30 million. The business’s revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.80) earnings per share.

Analyst Ratings Changes

Several analysts recently weighed in on the company. William Blair restated a “market perform” rating on shares of Revance Therapeutics in a report on Monday, August 12th. StockNews.com started coverage on shares of Revance Therapeutics in a report on Sunday. They set a “hold” rating on the stock. Barclays reaffirmed an “equal weight” rating and issued a $7.00 price target (down previously from $10.00) on shares of Revance Therapeutics in a research report on Friday. Guggenheim reiterated a “neutral” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Finally, HC Wainwright downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Revance Therapeutics presently has an average rating of “Hold” and a consensus target price of $10.50.

Hedge Funds Weigh In On Revance Therapeutics

A number of hedge funds have recently made changes to their positions in RVNC. Arizona State Retirement System increased its stake in Revance Therapeutics by 27.6% during the second quarter. Arizona State Retirement System now owns 27,716 shares of the biopharmaceutical company’s stock worth $71,000 after purchasing an additional 5,996 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in Revance Therapeutics by 67.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 16,981 shares of the biopharmaceutical company’s stock valued at $84,000 after buying an additional 6,826 shares in the last quarter. Sei Investments Co. lifted its holdings in Revance Therapeutics by 52.5% during the 2nd 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. California State Teachers Retirement System boosted its position in shares of Revance Therapeutics by 9.8% during the 1st quarter. California State Teachers Retirement System now owns 97,493 shares of the biopharmaceutical company’s stock worth $480,000 after acquiring an additional 8,668 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Revance Therapeutics in the 4th quarter valued at about $84,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.