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

Knott David M Jr reduced its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 24.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 140,633 shares of the company’s stock after selling 45,367 shares during the quarter. Travere Therapeutics accounts for 2.5% of Knott David M Jr’s investment portfolio, making the stock its 12th biggest holding. Knott David M Jr owned about 0.15% of Travere Therapeutics worth $4,178,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in shares of Travere Therapeutics during the second quarter worth $33,000. Fifth Third Bancorp purchased a new position in Travere Therapeutics in the 1st quarter valued at $35,000. State of Wyoming purchased a new position in Travere Therapeutics in the 4th quarter valued at $37,000. Torren Management LLC acquired a new position in Travere Therapeutics in the 4th quarter valued at $38,000. Finally, Comerica Bank increased its stake in Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after buying an additional 492 shares during the period.

Travere Therapeutics Trading Up 0.7%

Shares of TVTX stock opened at $56.68 on Friday. The business’s fifty day moving average price is $51.99 and its 200 day moving average price is $39.40. The firm has a market capitalization of $5.27 billion, a PE ratio of -246.42 and a beta of 1.10. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08. Travere Therapeutics, Inc. has a 1-year low of $15.03 and a 1-year high of $60.10.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Monday, May 4th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.29. The company had revenue of $127.20 million during the quarter, compared to the consensus estimate of $136.23 million. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.Travere Therapeutics’s quarterly revenue was up 55.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.47) earnings per share. As a group, sell-side analysts forecast that Travere Therapeutics, Inc. will post -0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on TVTX. Piper Sandler upgraded shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 target price for the company in a research note on Tuesday, April 14th. Weiss Ratings downgraded shares of Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Canaccord Genuity Group boosted their price target on shares of Travere Therapeutics from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Citigroup increased their price target on shares of Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Finally, HC Wainwright raised their price objective on shares of Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.08.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, Director Timothy Coughlin sold 10,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.07, for a total transaction of $500,700.00. Following the transaction, the director directly owned 56,250 shares in the company, valued at approximately $2,816,437.50. This represents a 15.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy D. Baynes sold 4,500 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.00, for a total transaction of $225,000.00. Following the completion of the transaction, the director directly owned 41,500 shares of the company’s stock, valued at approximately $2,075,000. This trade represents a 9.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 113,413 shares of company stock valued at $5,161,607. 4.44% of the stock is owned by company insiders.

Travere Therapeutics 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.