Travere Therapeutics (NASDAQ:TVTX) Trading Down 8% – Here’s What Happened

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s stock price fell 8% during mid-day trading on Monday . The stock traded as low as $17.60 and last traded at $18.10. 284,601 shares were traded during trading, a decline of 81% from the average session volume of 1,473,363 shares. The stock had previously closed at $19.68.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TVTX shares. JPMorgan Chase & Co. upped their price target on Travere Therapeutics from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. HC Wainwright upped their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Canaccord Genuity Group lifted their price target on shares of Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Travere Therapeutics in a report on Friday, February 21st. Finally, Citigroup raised their price objective on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, February 24th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Travere Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $31.46.

Travere Therapeutics Stock Down 2.7 %

The company has a market capitalization of $1.55 billion, a P/E ratio of -4.25 and a beta of 0.75. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The firm has a fifty day simple moving average of $20.71 and a 200-day simple moving average of $18.60.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, February 20th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.15). Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The company had revenue of $74.79 million for the quarter, compared to analyst estimates of $72.38 million. On average, equities research analysts expect that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Peter Heerma sold 1,584 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total transaction of $30,000.96. Following the completion of the transaction, the insider now directly owns 106,374 shares of the company’s stock, valued at $2,014,723.56. This represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William E. Rote sold 2,437 shares of Travere Therapeutics stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total value of $47,424.02. Following the completion of the sale, the senior vice president now directly owns 83,170 shares in the company, valued at approximately $1,618,488.20. This represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,335 shares of company stock valued at $4,194,712. Company insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Entropy Technologies LP acquired a new position in shares of Travere Therapeutics during the 4th quarter worth about $214,000. US Bancorp DE boosted its position in Travere Therapeutics by 323.4% during the fourth quarter. US Bancorp DE now owns 31,795 shares of the company’s stock valued at $554,000 after purchasing an additional 24,286 shares during the last quarter. FMR LLC boosted its position in Travere Therapeutics by 27.5% during the third quarter. FMR LLC now owns 147,416 shares of the company’s stock valued at $2,062,000 after purchasing an additional 31,772 shares during the last quarter. Two Sigma Advisers LP grew its stake in Travere Therapeutics by 30.2% in the third quarter. Two Sigma Advisers LP now owns 720,400 shares of the company’s stock valued at $10,078,000 after purchasing an additional 167,100 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Travere Therapeutics by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock worth $24,222,000 after purchasing an additional 64,744 shares during the last quarter.

About Travere Therapeutics

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.