Assenagon Asset Management S.A. Sells 839,577 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Assenagon Asset Management S.A. decreased its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 37.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,374,522 shares of the company’s stock after selling 839,577 shares during the period. Assenagon Asset Management S.A.’s holdings in Travere Therapeutics were worth $19,230,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TVTX. Vanguard Group Inc. lifted its position in shares of Travere Therapeutics by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock worth $48,310,000 after purchasing an additional 750,686 shares during the period. Millennium Management LLC lifted its stake in shares of Travere Therapeutics by 33.9% in the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after purchasing an additional 747,406 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Travere Therapeutics by 203.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock valued at $5,055,000 after purchasing an additional 412,000 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Travere Therapeutics by 18.3% in the second quarter. Bank of New York Mellon Corp now owns 264,816 shares of the company’s stock worth $2,177,000 after purchasing an additional 41,048 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Travere Therapeutics by 79.2% during the 1st quarter. Russell Investments Group Ltd. now owns 184,623 shares of the company’s stock worth $1,423,000 after buying an additional 81,611 shares in the last quarter.

Insider Buying and Selling at Travere Therapeutics

In other news, Director Jeffrey A. Meckler sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $14.06, for a total value of $562,400.00. Following the sale, the director now owns 81,000 shares of the company’s stock, valued at $1,138,860. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Jeffrey A. Meckler sold 40,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $14.06, for a total transaction of $562,400.00. Following the sale, the director now directly owns 81,000 shares in the company, valued at approximately $1,138,860. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $243,360.00. Following the transaction, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,707 shares of company stock valued at $1,504,312 over the last three months. 3.75% of the stock is currently owned by insiders.

Travere Therapeutics Trading Down 3.1 %

Shares of TVTX stock opened at $17.53 on Friday. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96. The firm has a market cap of $1.33 billion, a P/E ratio of -8.35 and a beta of 0.73. The company has a 50 day moving average of $13.63 and a 200-day moving average of $9.72. Travere Therapeutics, Inc. has a 12-month low of $5.12 and a 12-month high of $19.25.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The firm had revenue of $54.12 million during the quarter, compared to analysts’ expectations of $49.50 million. Sell-side analysts anticipate that Travere Therapeutics, Inc. will post -3.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

TVTX has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price target on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Guggenheim boosted their target price on Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Scotiabank started coverage on Travere Therapeutics in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $23.00 price target on the stock. Canaccord Genuity Group decreased their price objective on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Barclays increased their target price on Travere Therapeutics from $14.00 to $18.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.38.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.