Deutsche Bank AG Reduces Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Deutsche Bank AG decreased its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 24.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 532,031 shares of the company's stock after selling 173,054 shares during the period. Deutsche Bank AG owned approximately 0.68% of Travere Therapeutics worth $9,268,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. lifted its stake in Travere Therapeutics by 9.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company's stock worth $138,000 after purchasing an additional 667 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Travere Therapeutics by 859.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock worth $41,000 after buying an additional 2,115 shares during the last quarter. Rhumbline Advisers boosted its stake in Travere Therapeutics by 2.2% in the 4th quarter. Rhumbline Advisers now owns 121,248 shares of the company's stock worth $2,112,000 after purchasing an additional 2,640 shares in the last quarter. Arizona State Retirement System boosted its stake in 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 in the last quarter. Finally, R Squared Ltd bought a new position in Travere Therapeutics in the 4th quarter valued at approximately $53,000.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 18,924 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $398,350.20. Following the completion of the transaction, the chief executive officer now owns 419,173 shares in the company, valued at approximately $8,823,591.65. This represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Peter Heerma sold 1,771 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $37,279.55. Following the completion of the transaction, the insider now directly owns 128,215 shares of the company's stock, valued at $2,698,925.75. The trade was a 1.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,527 shares of company stock worth $473,814 over the last three months. Company insiders own 4.19% of the company's stock.

Travere Therapeutics Stock Performance

Shares of TVTX traded up $0.55 during trading hours on Tuesday, reaching $17.56. 1,844,606 shares of the company traded hands, compared to its average volume of 1,566,714. The stock has a market capitalization of $1.56 billion, a P/E ratio of -4.28 and a beta of 0.88. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a 12-month low of $6.01 and a 12-month high of $25.29. The business has a fifty day moving average price of $18.21 and a 200-day moving average price of $18.91.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TVTX shares. Stifel Nicolaus increased their price target on Travere Therapeutics from $22.00 to $23.00 and gave the company a "hold" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. increased their price target on Travere Therapeutics from $42.00 to $44.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Citigroup restated a "buy" rating on shares of Travere Therapeutics in a research report on Friday. Bank of America lifted their price target on Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Finally, Wedbush reiterated an "outperform" rating and issued a $30.00 price target on shares of Travere Therapeutics in a research report on Friday. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $31.79.

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.