Travere Therapeutics, Inc. (NASDAQ:TVTX) Position Cut by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 61.4% during the 4th quarter, Holdings Channel reports. The fund owned 530,513 shares of the company’s stock after selling 844,009 shares during the period. Assenagon Asset Management S.A.’s holdings in Travere Therapeutics were worth $9,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Creative Planning increased its holdings in shares of Travere Therapeutics by 4.3% during the third quarter. Creative Planning now owns 23,938 shares of the company’s stock valued at $335,000 after purchasing an additional 995 shares during the period. Forefront Analytics LLC grew its position in Travere Therapeutics by 10.2% in the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after buying an additional 1,237 shares in the last quarter. CWM LLC grew its position in Travere Therapeutics by 158.5% in the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after buying an additional 3,065 shares in the last quarter. Diversified Trust Co increased its stake in Travere Therapeutics by 27.5% during the 4th quarter. Diversified Trust Co now owns 14,701 shares of the company’s stock valued at $256,000 after buying an additional 3,169 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Travere Therapeutics by 20.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,969 shares of the company’s stock worth $279,000 after buying an additional 3,458 shares in the last quarter.

Analyst Upgrades and Downgrades

TVTX has been the subject of several recent analyst reports. Cantor Fitzgerald started coverage on shares of Travere Therapeutics in a report on Friday, January 10th. They issued an “overweight” rating for the company. Leerink Partners reaffirmed an “outperform” rating and set a $20.00 price target on shares of Travere Therapeutics in a research note on Tuesday, October 8th. Piper Sandler boosted their price objective on Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Bank of America raised their target price on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Wedbush boosted their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Travere Therapeutics Price Performance

NASDAQ TVTX opened at $18.37 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $20.33. The company has a market cap of $1.43 billion, a PE ratio of -4.04 and a beta of 0.70. The stock’s 50-day moving average price is $18.21 and its two-hundred day moving average price is $14.51.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The business had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. During the same quarter in the previous year, the business earned ($1.17) earnings per share. The firm’s revenue was up 69.6% compared to the same quarter last year. On average, analysts predict that Travere Therapeutics, Inc. will post -3.92 EPS for the current year.

Insider Activity

In other Travere Therapeutics news, CAO Sandra Calvin sold 15,000 shares of Travere Therapeutics stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $17.22, for a total transaction of $258,300.00. Following the transaction, the chief accounting officer now owns 54,927 shares of the company’s stock, valued at $945,842.94. The trade was a 21.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jula Inrig sold 2,066 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $19.10, for a total transaction of $39,460.60. Following the completion of the sale, the insider now directly owns 59,883 shares of the company’s stock, valued at $1,143,765.30. This trade represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,596 shares of company stock worth $527,262 over the last quarter. Corporate insiders own 4.06% of the company’s stock.

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.