Travere Therapeutics, Inc. (NASDAQ:TVTX) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 22.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 413,514 shares of the company's stock after selling 116,999 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.47% of Travere Therapeutics worth $7,410,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new position in Travere Therapeutics during the fourth quarter worth $31,000. Sterling Capital Management LLC increased 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 acquiring an additional 2,115 shares during the last quarter. Gen Wealth Partners Inc purchased a new position in Travere Therapeutics during the fourth quarter worth about $73,000. Summit Investment Advisors Inc. increased its holdings in shares of Travere Therapeutics by 9.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company's stock worth $138,000 after buying an additional 667 shares during the last quarter. Finally, Twinbeech Capital LP acquired a new stake in Travere Therapeutics during the fourth quarter worth $177,000.

Insider Buying and Selling at Travere Therapeutics

In other 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 transaction of $398,350.20. Following the completion of the transaction, the chief executive officer now owns 419,173 shares of the company's stock, valued at $8,823,591.65. This represents a 4.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Christopher R. Cline sold 1,784 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $37,553.20. Following the transaction, the chief financial officer now directly owns 93,126 shares in the company, valued at approximately $1,960,302.30. This represents a 1.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,527 shares of company stock valued at $473,814 over the last quarter. Corporate insiders own 4.06% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TVTX shares. Bank of America boosted their target price on Travere Therapeutics from $29.00 to $31.00 and gave the company a "buy" rating in a research report on Tuesday, April 1st. Cantor Fitzgerald reiterated an "overweight" rating on shares of Travere Therapeutics in a research note on Wednesday, April 23rd. HC Wainwright raised Travere Therapeutics to a "buy" rating and set a $30.00 price objective for the company in a research report on Wednesday, June 11th. Citigroup dropped their target price on shares of Travere Therapeutics from $35.00 to $32.00 and set a "buy" rating on the stock in a research report on Wednesday, June 11th. Finally, JPMorgan Chase & Co. lifted their price target on Travere Therapeutics from $42.00 to $44.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $32.14.

Travere Therapeutics Price Performance

NASDAQ:TVTX traded up $0.16 during trading hours on Wednesday, hitting $14.25. The company's stock had a trading volume of 852,814 shares, compared to its average volume of 1,617,091. The company has a market capitalization of $1.27 billion, a PE ratio of -5.04 and a beta of 0.75. Travere Therapeutics, Inc. has a 52-week low of $6.80 and a 52-week high of $25.29. The business's 50-day moving average is $16.88 and its two-hundred day moving average is $18.47. The company has a debt-to-equity ratio of 9.46, a quick ratio of 2.03 and a current ratio of 2.05.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.08. The business had revenue of $81.73 million for the quarter, compared to analyst estimates of $77.44 million. Travere Therapeutics had a negative return on equity of 1,179.73% and a negative net margin of 82.88%. The company's quarterly revenue was up 83.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.76) EPS. As a group, research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

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.