Travere Therapeutics, Inc. $TVTX Shares Sold by Knott David M Jr

Knott David M Jr reduced its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 24.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,633 shares of the company’s stock after selling 45,367 shares during the quarter. Travere Therapeutics makes up 2.5% of Knott David M Jr’s investment portfolio, making the stock its 12th largest position. Knott David M Jr’s holdings in Travere Therapeutics were worth $4,178,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sei Investments Co. lifted its holdings in shares of Travere Therapeutics by 24.6% in the first quarter. Sei Investments Co. now owns 166,477 shares of the company’s stock valued at $4,946,000 after purchasing an additional 32,882 shares in the last quarter. Militia Capital Management LLC purchased a new position in shares of Travere Therapeutics during the 1st quarter worth approximately $882,000. Swiss National Bank increased its stake in shares of Travere Therapeutics by 0.6% during the 1st quarter. Swiss National Bank now owns 168,100 shares of the company’s stock worth $4,994,000 after purchasing an additional 1,000 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in shares of Travere Therapeutics by 2.9% during the 1st quarter. Hillsdale Investment Management Inc. now owns 182,320 shares of the company’s stock worth $5,417,000 after purchasing an additional 5,100 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in shares of Travere Therapeutics during the 1st quarter worth approximately $35,000.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $56.68 on Friday. The firm has a 50 day simple moving average of $51.99 and a 200-day simple moving average of $39.40. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08. The firm has a market cap of $5.27 billion, a PE ratio of -246.42 and a beta of 1.10. Travere Therapeutics, Inc. has a 1-year low of $15.03 and a 1-year high of $60.10.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.29. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The business had revenue of $127.20 million for the quarter, compared to the consensus estimate of $136.23 million. During the same quarter in the prior year, the firm posted ($0.47) earnings per share. The company’s quarterly revenue was up 55.6% compared to the same quarter last year. On average, equities analysts expect that Travere Therapeutics, Inc. will post -0.31 EPS for the current year.

Insider Buying and Selling

In other news, insider Elizabeth E. Reed sold 20,000 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $45.00, for a total transaction of $900,000.00. Following the sale, the insider owned 105,211 shares in the company, valued at $4,734,495. This trade represents a 15.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jula Inrig sold 20,000 shares of Travere Therapeutics stock in a transaction on Monday, May 4th. The shares were sold at an average price of $45.00, for a total value of $900,000.00. Following the completion of the sale, the insider directly owned 111,473 shares of the company’s stock, valued at approximately $5,016,285. This represents a 15.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 113,413 shares of company stock worth $5,161,607 in the last three months. 4.44% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on TVTX. Wells Fargo & Company upped their target price on Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Weiss Ratings downgraded Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 23rd. Citigroup boosted their price target on Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, June 15th. HC Wainwright upped their price objective on Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Finally, Guggenheim increased their price objective on Travere Therapeutics from $56.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.08.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.