Revance Therapeutics Target of Unusually Large Options Trading (RVNC)
Revance Therapeutics Inc (NASDAQ:RVNC) was the target of some unusual options trading on Tuesday. Traders acquired 2,190 put options on the stock. This is an increase of 3,742% compared to the typical volume of 57 put options.
Shares of Revance Therapeutics (NASDAQ RVNC) opened at $32.75 on Friday. Revance Therapeutics has a fifty-two week low of $15.85 and a fifty-two week high of $37.20.
Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.95) by ($0.06). Revance Therapeutics had a negative return on equity of 67.85% and a negative net margin of 37,161.00%. The company had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.05 million. During the same period in the prior year, the business earned ($0.64) earnings per share. Revance Therapeutics’s revenue for the quarter was up .0% compared to the same quarter last year. equities research analysts anticipate that Revance Therapeutics will post -3.73 EPS for the current year.
In other news, Director Mark J. Foley acquired 20,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was acquired at an average cost of $26.96 per share, with a total value of $539,200.00. Following the completion of the acquisition, the director now owns 6,000 shares of the company’s stock, valued at $161,760. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO L Daniel Browne sold 7,600 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $23.58, for a total value of $179,208.00. Following the completion of the sale, the chief executive officer now directly owns 148,450 shares of the company’s stock, valued at $3,500,451. The disclosure for this sale can be found here. Insiders sold 44,026 shares of company stock valued at $1,135,234 over the last three months. Corporate insiders own 18.86% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Revance Therapeutics by 4.8% during the second quarter. JPMorgan Chase & Co. now owns 3,626,603 shares of the biopharmaceutical company’s stock worth $95,743,000 after purchasing an additional 166,759 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Revance Therapeutics by 13.1% during the second quarter. Franklin Resources Inc. now owns 3,375,238 shares of the biopharmaceutical company’s stock worth $89,106,000 after purchasing an additional 391,638 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Revance Therapeutics by 14.4% during the second quarter. Bank of New York Mellon Corp now owns 2,079,562 shares of the biopharmaceutical company’s stock worth $54,901,000 after purchasing an additional 261,764 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Revance Therapeutics by 7.3% during the second quarter. Vanguard Group Inc. now owns 931,623 shares of the biopharmaceutical company’s stock worth $24,595,000 after purchasing an additional 63,505 shares during the period. Finally, State Street Corp lifted its holdings in shares of Revance Therapeutics by 0.6% during the second quarter. State Street Corp now owns 452,490 shares of the biopharmaceutical company’s stock worth $11,944,000 after purchasing an additional 2,637 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.
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About Revance Therapeutics
Revance Therapeutics, Inc is a clinical-stage biotechnology company. The Company is focused on the development, manufacturing and commercialization of botulinum toxin products for multiple aesthetic and therapeutic indications. Its peptide technology enables delivery of botulinum toxin type A through two investigational drug product candidates, DaxibotulinumtoxinA for Injection (RT002), or RT002 injectable, and DaxibotulinumtoxinA Topical Gel (RT001), or RT001 topical.
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