Travere Therapeutics, Inc. (NASDAQ:TVTX) Holdings Decreased by State Street Corp

State Street Corp lowered its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 22.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,736,696 shares of the company’s stock after selling 773,981 shares during the quarter. State Street Corp owned about 3.51% of Travere Therapeutics worth $38,286,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TVTX. Aigen Investment Management LP acquired a new position in shares of Travere Therapeutics during the 3rd quarter valued at $170,000. Oppenheimer & Co. Inc. acquired a new position in Travere Therapeutics during the third quarter worth about $673,000. Acadian Asset Management LLC raised its position in Travere Therapeutics by 202.6% in the second quarter. Acadian Asset Management LLC now owns 144,901 shares of the company’s stock worth $1,190,000 after acquiring an additional 97,020 shares in the last quarter. Millennium Management LLC lifted its holdings in 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 acquiring an additional 747,406 shares during the last quarter. Finally, FMR LLC lifted its holdings in Travere Therapeutics by 27.5% in the 3rd quarter. FMR LLC now owns 147,416 shares of the company’s stock valued at $2,062,000 after acquiring an additional 31,772 shares during the last quarter.

Insiders Place Their Bets

In related news, Director Jeffrey A. Meckler sold 40,000 shares of Travere Therapeutics stock in a transaction 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 completion of the sale, the director now owns 81,000 shares of the company’s stock, valued at approximately $1,138,860. The trade was a 33.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sandra Calvin sold 12,090 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $18.30, for a total transaction of $221,247.00. Following the transaction, the chief accounting officer now directly owns 54,927 shares in the company, valued at $1,005,164.10. The trade was a 18.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,090 shares of company stock valued at $1,372,847 in the last three months. Insiders own 4.06% of the company’s stock.

Travere Therapeutics Stock Down 1.3 %

Travere Therapeutics stock opened at $17.18 on Friday. Travere Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $20.33. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The firm has a market cap of $1.34 billion, a PE ratio of -3.78 and a beta of 0.69. The firm’s 50 day moving average price is $18.17 and its two-hundred day moving average price is $13.01.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01. The business had revenue of $62.90 million for the quarter, compared to the consensus estimate of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. Travere Therapeutics’s revenue for the quarter was up 69.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.17) earnings per share. On average, research analysts predict that Travere Therapeutics, Inc. will post -3.94 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on TVTX shares. HC Wainwright dropped their price target on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. Guggenheim increased their price target on Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Bank of America boosted their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their target price 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. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $23.67.

Travere Therapeutics 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.