Impax Asset Management Group plc Decreases Holdings in Travere Therapeutics, Inc. $TVTX

Key Points

• Impax cut its stake by 52.6% in Q4, selling 250,000 shares and retaining 225,000 shares of Travere Therapeutics worth about $8.60 million (roughly 0.25% of the company).
• Insider selling has been significant: CEO Eric M. Dube sold 100,087 shares and a director sold 32,750, with insiders offloading 505,034 shares (≈$17.93 million) in the past quarter; insiders now own 4.19% of the company.
• Other institutional moves have been mixed but sizable—Wellington boosted to 1,201,469 shares and Vanguard holds 6.61 million shares—while the stock trades near $40.56 and carries a consensus "Moderate Buy" with an average price target of $42.67.

Impax Asset Management Group plc decreased its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 52.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,000 shares of the company's stock after selling 250,000 shares during the quarter. Impax Asset Management Group plc owned 0.25% of Travere Therapeutics worth $8,597,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TVTX. Stephens Investment Management Group LLC purchased a new stake in shares of Travere Therapeutics during the 3rd quarter worth approximately $38,232,000. Wellington Management Group LLP boosted its stake in shares of Travere Therapeutics by 3,331.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company's stock worth $28,715,000 after acquiring an additional 1,166,460 shares in the last quarter. Perceptive Advisors LLC purchased a new stake in Travere Therapeutics in the 2nd quarter valued at approximately $12,347,000. Cubist Systematic Strategies LLC purchased a new stake in Travere Therapeutics in the 2nd quarter valued at approximately $10,348,000. Finally, Vanguard Group Inc. lifted its stake in Travere Therapeutics by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,613,368 shares of the company's stock valued at $158,059,000 after buying an additional 619,085 shares in the last quarter.

Travere Therapeutics Trading Down 0.6%

Shares of Travere Therapeutics stock opened at $40.56 on Friday. Travere Therapeutics, Inc. has a fifty-two week low of $13.88 and a fifty-two week high of $43.31. The firm has a market cap of $3.75 billion, a PE ratio of -135.19 and a beta of 0.86. The business's fifty day moving average is $31.02 and its two-hundred day moving average is $32.12. The company has a quick ratio of 2.70, a current ratio of 2.74 and a debt-to-equity ratio of 2.71.

Analyst Ratings Changes

TVTX has been the topic of a number of recent research reports. Guggenheim upped their target price on Travere Therapeutics from $54.00 to $56.00 and gave the company a "buy" rating in a research note on Friday. Piper Sandler raised Travere Therapeutics from a "neutral" rating to an "overweight" rating and set a $49.00 target price on the stock in a research note on Tuesday, April 14th. JPMorgan Chase & Co. reduced their target price on Travere Therapeutics from $44.00 to $41.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 25th. HC Wainwright reaffirmed a "buy" rating and issued a $47.00 target price on shares of Travere Therapeutics in a research note on Tuesday, April 14th. Finally, Wedbush lifted their price target on shares of Travere Therapeutics from $39.00 to $44.00 and gave the stock an "outperform" rating in a report on Tuesday, April 14th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $42.67.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 100,087 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $32.28, for a total transaction of $3,230,808.36. Following the transaction, the chief executive officer owned 432,886 shares of the company's stock, valued at $13,973,560.08. This represents a 18.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Roy D. Baynes sold 32,750 shares of the stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $41.29, for a total value of $1,352,247.50. Following the transaction, the director directly owned 37,500 shares in the company, valued at approximately $1,548,375. This represents a 46.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 505,034 shares of company stock worth $17,930,860. Company insiders own 4.19% of the company's stock.

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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