CANADA LIFE ASSURANCE Co Buys 16,416 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

CANADA LIFE ASSURANCE Co lifted its position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 237.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,318 shares of the company's stock after acquiring an additional 16,416 shares during the period. CANADA LIFE ASSURANCE Co's holdings in Travere Therapeutics were worth $406,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. grew its stake in shares of Travere Therapeutics by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company's stock valued at $138,000 after purchasing an additional 667 shares during the period. Sterling Capital Management LLC increased its position in Travere Therapeutics by 859.8% in the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock worth $41,000 after purchasing an additional 2,115 shares during the period. Rhumbline Advisers grew its holdings in Travere Therapeutics by 2.2% during the 4th quarter. Rhumbline Advisers now owns 121,248 shares of the company's stock worth $2,112,000 after acquiring an additional 2,640 shares during the period. Arizona State Retirement System boosted its position in shares of Travere Therapeutics by 13.5% in the 4th quarter. Arizona State Retirement System now owns 22,396 shares of the company's stock worth $390,000 after purchasing an additional 2,666 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth $53,000.

Insider Activity

In other Travere Therapeutics news, insider Peter Heerma sold 1,771 shares of Travere Therapeutics stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $37,279.55. Following the completion of the sale, the insider now owns 128,215 shares of the company's stock, valued at approximately $2,698,925.75. The trade was a 1.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sandra Calvin sold 54,244 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total value of $1,356,100.00. Following the transaction, the chief accounting officer now directly owns 54,410 shares in the company, valued at $1,360,250. The trade was a 49.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,420 shares of company stock worth $2,522,575 in the last quarter. 4.19% of the stock is owned by company insiders.

Travere Therapeutics Trading Down 0.5 %

NASDAQ:TVTX traded down $0.12 during trading hours on Tuesday, reaching $21.29. The company's stock had a trading volume of 87,809 shares, compared to its average volume of 1,685,619. Travere Therapeutics, Inc. has a 1 year low of $6.01 and a 1 year high of $25.29. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The firm has a 50-day simple moving average of $18.09 and a 200-day simple moving average of $18.77. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -5.19 and a beta of 0.88.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share for the quarter, topping analysts' consensus estimates of ($0.55) by $0.08. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The company had revenue of $81.73 million during the quarter, compared to analyst estimates of $77.44 million. During the same period in the prior year, the business posted ($1.76) earnings per share. Travere Therapeutics's revenue for the quarter was up 83.3% on a year-over-year basis. Research analysts expect that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on TVTX. Scotiabank reissued an "outperform" rating on shares of Travere Therapeutics in a report on Friday, April 11th. Stifel Nicolaus increased their target price on Travere Therapeutics from $22.00 to $23.00 and gave the stock a "hold" rating in a report on Friday. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Travere Therapeutics in a research note on Wednesday, April 23rd. Guggenheim reiterated a "buy" rating and issued a $47.00 target price on shares of Travere Therapeutics in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Travere Therapeutics from $42.00 to $44.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Travere Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $31.79.

Travere Therapeutics 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.