Hsbc Holdings PLC Sells 176,242 Shares of Travere Therapeutics, Inc. $TVTX

Hsbc Holdings PLC cut its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 44.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 220,611 shares of the company's stock after selling 176,242 shares during the period. Hsbc Holdings PLC owned 0.23% of Travere Therapeutics worth $12,595,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Jupiter Topco LLC acquired a new position in Travere Therapeutics in the 2nd quarter valued at $643,299,000. Bank of America Corp DE bought a new stake in shares of Travere Therapeutics in the second quarter valued at about $259,527,000. State Street Corp boosted its position in shares of Travere Therapeutics by 47.8% in the fourth quarter. State Street Corp now owns 4,756,666 shares of the company's stock valued at $181,752,000 after acquiring an additional 1,538,827 shares during the period. Wellington Management Group LLP grew its stake in shares of Travere Therapeutics by 3,331.9% in the third quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company's stock valued at $28,715,000 after acquiring an additional 1,166,460 shares in the last quarter. Finally, Fiera Capital Corp acquired a new position in shares of Travere Therapeutics in the fourth quarter valued at about $33,398,000.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, Director Timothy Coughlin sold 10,000 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $50.07, for a total transaction of $500,700.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy Baynes sold 4,500 shares of the company's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $50.00, for a total value of $225,000.00. Following the sale, the director owned 41,500 shares of the company's stock, valued at $2,075,000. The trade was a 9.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.44% of the stock is owned by insiders.

Travere Therapeutics Trading Up 1.2%

TVTX opened at $66.07 on Wednesday. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of -143.63 and a beta of 1.05. The company has a quick ratio of 3.99, a current ratio of 4.05 and a debt-to-equity ratio of 24.58. Travere Therapeutics, Inc. has a twelve month low of $20.84 and a twelve month high of $68.03. The company has a 50-day simple moving average of $60.55 and a 200 day simple moving average of $46.77.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.03. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The firm had revenue of $169.58 million for the quarter, compared to analyst estimates of $157.27 million. During the same period last year, the firm earned $0.13 EPS. The business's quarterly revenue was up 48.2% compared to the same quarter last year. Analysts predict that Travere Therapeutics, Inc. will post -0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Citigroup lifted their price objective on shares of Travere Therapeutics from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Canaccord Genuity Group increased their target price on shares of Travere Therapeutics from $62.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. HC Wainwright raised their target price on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Evercore set a $78.00 price target on shares of Travere Therapeutics in a research report on Monday, August 10th. Finally, TD Cowen boosted their price target on Travere Therapeutics from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.67.

Travere Therapeutics 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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