California State Teachers Retirement System Increases Stock Holdings in Travere Therapeutics, Inc. $TVTX

Key Points

• California State Teachers Retirement System increased its Travere Therapeutics stake by 32.3% in the first quarter, adding 25,660 shares to own 105,132 shares valued at approximately $3.12 million.
• Travere shares opened at $61.32, near their 12-month high of $66.24, while analysts maintained a broadly positive outlook with a consensus “Moderate Buy” rating and a $60.18 target price.
• Institutional buying was accompanied by insider selling: two directors sold a combined 14,500 shares under pre-arranged Rule 10b5-1 plans. Insiders retain 4.44% ownership of the company.

California State Teachers Retirement System increased its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 32.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,132 shares of the company's stock after buying an additional 25,660 shares during the quarter. California State Teachers Retirement System owned 0.11% of Travere Therapeutics worth $3,123,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of TVTX. State of Wyoming purchased a new position in Travere Therapeutics during the 4th quarter worth $37,000. Torren Management LLC purchased a new stake in shares of Travere Therapeutics in the fourth quarter valued at about $38,000. Comerica Bank raised its holdings in shares of Travere Therapeutics by 77.5% in the fourth quarter. Comerica Bank now owns 1,127 shares of the company's stock valued at $43,000 after purchasing an additional 492 shares during the last quarter. Fifth Third Bancorp bought a new position in shares of Travere Therapeutics during the first quarter valued at about $35,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of Travere Therapeutics by 69.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company's stock valued at $45,000 after purchasing an additional 487 shares in the last quarter.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $61.32 on Monday. Travere Therapeutics, Inc. has a 12 month low of $16.55 and a 12 month high of $66.24. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58. The firm's 50 day moving average is $54.88 and its 200 day moving average is $41.37. The stock has a market capitalization of $5.78 billion, a PE ratio of -133.30 and a beta of 1.12.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Evercore restated an "outperform" rating on shares of Travere Therapeutics in a report on Wednesday. Wells Fargo & Company lifted their target price on shares of Travere Therapeutics from $50.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, June 12th. Weiss Ratings downgraded Travere Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 23rd. Citigroup upped their target price on Travere Therapeutics from $70.00 to $85.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Guggenheim increased their price target on Travere Therapeutics from $65.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Travere Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $60.18.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, Director Timothy Coughlin sold 10,000 shares of the business's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $50.07, for a total value of $500,700.00. Following the sale, the director directly owned 56,250 shares in the company, valued at $2,816,437.50. The trade was a 15.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy D. Baynes sold 4,500 shares of the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $50.00, for a total value of $225,000.00. Following the transaction, the director directly owned 41,500 shares in the company, valued at $2,075,000. This represents a 9.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.44% of the company's stock.

Travere Therapeutics Company 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.

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