The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Revance Therapeutics Inc. shares valued at $2,223,360 were sold by Foley Mark J on Mar 09. At $31.59 per share, Foley Mark J sold 70,390 shares. The insider’s holdings dropped to 823,351 shares worth approximately $25.65 million following the completion of this transaction.
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Also, Sjuts Dustin S sold 21,508 shares, netting a total of over 679,358 in proceeds. Following the sale of shares at $31.59 each, the insider now holds 123,934 shares.
Before that, Schilke Tobin had sold 18,517 shares from its account. In a trade valued at $584,884, the CFO traded Revance Therapeutics Inc. shares for $31.59 each. Upon closing the transaction, the insider’s holdings decreased to 18,517 shares, worth approximately $2.28 million.
As published in their initiating research note from Morgan Stanley on October 11, 2022, Revance Therapeutics Inc. [RVNC] has been an Equal-weight and the price target has been revised to $27. This represents a -15.37% premium over Thursday’s closing price. Analysts at Goldman started covering the stock with ‘”a Buy”‘ outlook in a report released in late September. As of October 25, 2021, Wells Fargo has decreased its “an Overweight” rating to a “an Equal weight” for RVNC. Earlier on October 15, 2020, Needham resumed its rating. Their recommendation was “a Buy” for RVNC stock.
Analyzing RVNC Stock Performance
On Thursday, Revance Therapeutics Inc. [NASDAQ: RVNC] rose 1.63% to $31.15. The stock’s lowest price that day was $29.92, but it reached a high of $31.38 in the same session. During the last five days, there has been a surge of approximately 0.58%. Over the course of the year, Revance Therapeutics Inc. shares have jumped approximately 68.74%. Shares of the company reached a 52-week high of $36.61 on 02/28/23 and a 52-week low of $18.11 on 01/03/23. A 50-day SMA is recorded $31.26, while a 200-day SMA reached $23.08. Nevertheless, trading volume fell to 1.18 million shares from 1.75 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 30.25, which, if violated, would cause prices to drop to 29.36. In the upper region, resistance lies at 31.71. The next price resistance is at 32.28. RSI (Relative Strength Index) is 48.37 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.28, which suggests the price will decrease in the coming days. Percent R is at 61.63%, 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 Jan 12, 2023 jumping by 3.09 million shares to 13.18 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 10.09 million shares. A jump of 23.44% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.72 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.72.
Which companies own the most shares of Revance Therapeutics Inc. (RVNC)?
According to Capital Research & Management Co filings, the company currently owns 9,480,156 shares, which is about 11.52% of the total RVNC shares outstanding. The investor’s shares have appreciated by 1,431,318 from its previous 13-F filing of 8048838.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $204,481,375. GIC Pte Ltd. acquire a 31.53% interest valued at $190.61 million while Palo Alto Investors LP purchased a 878,570 stake. A total of 386,886 shares of Revance Therapeutics Inc. were bought by Polar Capital LLP during the quarter, and 161,159 were bought by The Vanguard Group, Inc. In its current portfolio, JPMorgan Investment Management, I holds 2,913,191 shares valued at $101.09 million.
In terms of Revance Therapeutics Inc. share price expectations, FactSet research, analysts set an average price target of $37.54 in the next 12 months, up nearly 27.24% from the previous closing price of $30.65. Analysts anticipate Revance Therapeutics Inc. stock to reach $65.00 by 2023, with the lowest price target being $20.00. In spite of this, 13 analysts ranked Revance Therapeutics Inc. stock as an Overweight at the end of 2023. On August 11, 2020, Mizuho assigned a price target of “a Buy” to the stock and resumed coverage with a $32.