Deutsche Bank AG Sells 173,054 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Deutsche Bank AG lowered its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 24.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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.

Other hedge funds and other institutional investors have also modified their holdings of the company. Summit Investment Advisors Inc. raised its position in Travere Therapeutics by 9.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company's stock valued at $138,000 after buying an additional 667 shares during the period. Sterling Capital Management LLC grew its stake in Travere Therapeutics by 859.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock valued at $41,000 after acquiring an additional 2,115 shares in the last quarter. Rhumbline Advisers grew its stake in Travere Therapeutics by 2.2% during the 4th quarter. Rhumbline Advisers now owns 121,248 shares of the company's stock valued at $2,112,000 after acquiring an additional 2,640 shares in the last quarter. Arizona State Retirement System increased its holdings 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 valued at $390,000 after purchasing an additional 2,666 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Travere Therapeutics in the fourth quarter worth approximately $53,000.

Travere Therapeutics Stock Performance

Shares of TVTX traded down $0.42 during mid-day trading on Thursday, hitting $16.18. The company's stock had a trading volume of 352,882 shares, compared to its average volume of 1,565,348. Travere Therapeutics, Inc. has a one year low of $6.14 and a one year high of $25.29. The stock's 50-day moving average is $18.11 and its two-hundred day moving average is $18.89. The firm has a market capitalization of $1.44 billion, a PE ratio of -3.95 and a beta of 0.88. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share for the quarter, beating analysts' consensus estimates of ($0.55) by $0.08. The firm 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 business's revenue was up 83.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.76) EPS. As a group, sell-side analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Insider Activity at Travere Therapeutics

In other news, CFO Christopher R. Cline sold 1,784 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $37,553.20. Following the sale, the chief financial officer now owns 93,126 shares in the company, valued at approximately $1,960,302.30. The trade was a 1.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction of $37,279.55. Following the completion of the sale, the insider now directly owns 128,215 shares in the company, valued at approximately $2,698,925.75. The trade was a 1.36% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,527 shares of company stock worth $473,814. Company insiders own 4.19% of the company's stock.

Analyst Upgrades and Downgrades

TVTX has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price objective on shares of Travere Therapeutics from $22.00 to $23.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. Wedbush restated an "outperform" rating and set a $30.00 price target on shares of Travere Therapeutics in a report on Friday, May 16th. JPMorgan Chase & Co. upped their price target on shares of Travere Therapeutics from $42.00 to $44.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Evercore ISI lifted their price objective on Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Finally, Bank of America upped their target price on Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.