Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Revance Therapeutics Inc. shares valued at $297,798 were sold by Moxie Dwight on Sep 14. At $27.07 per share, Moxie Dwight sold 11,000 shares. The insider’s holdings dropped to 31,694 shares worth approximately $0.82 million following the completion of this transaction.
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Also, Russell Angus C. purchased 6,400 shares, netting a total of over 100,741 in proceeds. Following the buying of shares at $15.74 each, the insider now holds 26,913 shares.
Before that, Rankin Aubrey had added 30,000 shares to its account. In a trade valued at $432,876, the President, Innovation & Tech bought Revance Therapeutics Inc. shares for $14.43 each. Upon closing the transaction, the insider’s holdings increased to 30,000 shares, worth approximately $2.46 million.
As published in a research note from Wells Fargo on October 25, 2021, Revance Therapeutics Inc. [RVNC] has been rated down from an Overweight to an Equal weight and the price target has been revised to $17 from $35. This represents a -51.76% premium over Wednesday’s closing price. Analysts at Needham resumed the stock at ‘”a Buy”‘ outlook in a report released in mid October. Earlier on March 23, 2020, Goldman downgraded its rating. Their new recommendation was “a Neutral” for RVNC stock which previously was a “a Buy”.
Analyzing RVNC’s Price Performance
On Wednesday, Revance Therapeutics Inc. [NASDAQ: RVNC] plunged -0.81% to $25.80. The stock’s lowest price that day was $25.71, but it reached a high of $26.82 in the same session. During the last five days, there has been a drop of approximately -6.28%. Over the course of the year, Revance Therapeutics Inc. shares have jumped approximately 58.09%. Shares of the company reached a 52-week high of $29.51 on 09/09/22 and a 52-week low of $11.27 on 06/14/22. A 50-day SMA is recorded $20.35, while a 200-day SMA reached $16.63. Nevertheless, trading volume fell to 1.53 million shares from 1.05 million shares the previous day.
Support And Resistance Levels for Revance Therapeutics Inc. (RVNC)
According to the 24-hour chart, there is a support level at 25.40, which, if violated, would cause prices to drop to 25.00. In the upper region, resistance lies at 26.51. The next price resistance is at 27.22. RSI (Relative Strength Index) is 60.38 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.08, which suggests the price will increase in the coming days. Percent R is at 37.55%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Revance Therapeutics Inc. subject to short interest?
Stocks of Revance Therapeutics Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.12 million shares to 7.26 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 7.14 million shares. A jump of 1.65% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 11.14 of the overall float, the days-to-cover ratio (short ratio) jumped to 11.14.
Which companies own the most shares of Revance Therapeutics Inc. (RVNC)?
According to BlackRock Fund Advisors filings, the company currently owns 4,805,899 shares, which is about 6.57% of the total RVNC shares outstanding. The investor’s shares have appreciated by 190,534 from its previous 13-F filing of 4615365.0 shares. With the completion of the buy transaction, Capital Research & Management Co’s stake is now worth $91,341,000. Palo Alto Investors LP reduced a -0.24% interest valued at $87.66 million while JPMorgan Investment Management, I sold a -23,799 stake. A total of 345,129 shares of Revance Therapeutics Inc. were sold by GIC Pte Ltd. during the quarter, and 60,678 were bought by The Vanguard Group, Inc. In its current portfolio, Polar Capital LLP holds 3,117,052 shares valued at $62.03 million.
In terms of Revance Therapeutics Inc. share price expectations, FactSet research, analysts set an average price target of $33.80 in the next 12 months, up nearly 17.26% from the previous closing price of $26.01. Analysts anticipate Revance Therapeutics Inc. stock to reach $65.00 by 2022, with the lowest price target being $24.00. In spite of this, 11 analysts ranked Revance Therapeutics Inc. stock as a Buy at the end of 2022.