Assenagon Asset Management S.A. Has $19.23 Million Stock Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Assenagon Asset Management S.A. decreased its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 37.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,374,522 shares of the company’s stock after selling 839,577 shares during the period. Assenagon Asset Management S.A. owned about 1.81% of Travere Therapeutics worth $19,230,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Travere Therapeutics by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock valued at $48,310,000 after acquiring an additional 750,686 shares during the period. Millennium Management LLC boosted its holdings in shares of Travere Therapeutics by 33.9% during the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after buying an additional 747,406 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Travere Therapeutics by 203.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock valued at $5,055,000 after buying an additional 412,000 shares during the last quarter. Affinity Asset Advisors LLC acquired a new stake in Travere Therapeutics during the first quarter worth approximately $964,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of Travere Therapeutics by 202.6% during 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 during the period.

Insider Activity at Travere Therapeutics

In related news, CFO Christopher R. Cline sold 2,490 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $28,684.80. Following the completion of the transaction, the chief financial officer now owns 74,595 shares of the company’s stock, valued at $859,334.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Christopher R. Cline sold 2,490 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $28,684.80. Following the sale, the chief financial officer now owns 74,595 shares in the company, valued at $859,334.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Eric M. Dube sold 21,125 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $243,360.00. Following the completion of the transaction, the chief executive officer now owns 361,975 shares of the company’s stock, valued at $4,169,952. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,707 shares of company stock valued at $1,504,312. 3.75% of the stock is owned by insiders.

Travere Therapeutics Stock Performance

Shares of NASDAQ:TVTX opened at $17.53 on Friday. The company’s 50 day simple moving average is $13.63 and its 200 day simple moving average is $9.72. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $19.25. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -8.35 and a beta of 0.73.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The business had revenue of $54.12 million for the quarter, compared to the consensus estimate of $49.50 million. As a group, research analysts predict that Travere Therapeutics, Inc. will post -3.95 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on TVTX. Barclays lifted their price target on Travere Therapeutics from $14.00 to $18.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Leerink Partners reissued an “outperform” rating and set a $20.00 target price on shares of Travere Therapeutics in a report on Tuesday, October 8th. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $9.00 to $27.00 in a research note on Monday, October 21st. Wedbush raised 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. Finally, Canaccord Genuity Group cut their price objective on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a report on Monday, September 30th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.38.

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.