Travere Therapeutics, Inc. $TVTX Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 98.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 7,927 shares of the company’s stock after selling 409,815 shares during the period. Assenagon Asset Management S.A.’s holdings in Travere Therapeutics were worth $236,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Travere Therapeutics by 47.8% during the 4th quarter. State Street Corp now owns 4,756,666 shares of the company’s stock valued at $181,752,000 after acquiring an additional 1,538,827 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Travere Therapeutics by 3,331.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock valued at $28,715,000 after purchasing an additional 1,166,460 shares during the last quarter. Fiera Capital Corp acquired a new position in shares of Travere Therapeutics in the 4th quarter valued at $33,398,000. Perceptive Advisors LLC purchased a new stake in shares of Travere Therapeutics during the 2nd quarter valued at $12,347,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Travere Therapeutics in the 2nd quarter worth $10,348,000.

Travere Therapeutics Stock Down 0.0%

Travere Therapeutics stock opened at $56.90 on Friday. Travere Therapeutics, Inc. has a twelve month low of $14.44 and a twelve month high of $60.10. The company has a debt-to-equity ratio of 3.16, a quick ratio of 3.08 and a current ratio of 3.13. The firm has a market cap of $5.29 billion, a PE ratio of -247.38 and a beta of 1.10. The firm’s 50 day moving average price is $47.98 and its two-hundred day moving average price is $37.47.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.24) by $0.29. The business had revenue of $127.20 million during the quarter, compared to analysts’ expectations of $136.23 million. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The firm’s quarterly revenue was up 55.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.47) EPS. On average, research analysts predict that Travere Therapeutics, Inc. will post -0.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Guggenheim lifted 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. Piper Sandler raised Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price objective for the company in a report on Tuesday, April 14th. JPMorgan Chase & Co. lowered their target price on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, March 25th. HC Wainwright upped their target price on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, Wedbush raised their price target on Travere Therapeutics from $55.00 to $61.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Travere Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $52.08.

Insiders Place Their Bets

In related news, CAO Sandra Calvin sold 21,977 shares of the company’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $41.07, for a total transaction of $902,595.39. Following the completion of the transaction, the chief accounting officer directly owned 42,353 shares in the company, valued at $1,739,437.71. This represents a 34.16% decrease in their position. 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. Also, CEO Eric M. Dube sold 64,000 shares of Travere Therapeutics stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $41.09, for a total value of $2,629,760.00. Following the sale, the chief executive officer directly owned 432,886 shares in the company, valued at approximately $17,787,285.74. This trade represents a 12.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 334,515 shares of company stock worth $14,184,428 in the last ninety days. 4.44% of the stock is owned by insiders.

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.