S&CO Inc. Makes New Investment in Travere Therapeutics, Inc. $TVTX

Key Points

• S&CO Inc. acquired 56,000 shares of Travere Therapeutics during the second quarter, valued at approximately $3.18 million and representing 0.06% of the company. Several other institutional investors also increased or initiated positions.
• Travere shares opened at $62.14, up 1.2%, with a market capitalization of $5.86 billion and a 52-week range of $17.05 to $66.24.
• Analyst sentiment remains favorable, with 10 Buy, two Hold, and one Sell rating; the average price target is $61.67, while several firms recently raised their targets to between $65 and $75.

S&CO Inc. acquired a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 56,000 shares of the company's stock, valued at approximately $3,181,000. S&CO Inc. owned 0.06% of Travere Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp grew its stake in Travere Therapeutics by 47.8% during the fourth quarter. State Street Corp now owns 4,756,666 shares of the company's stock worth $181,752,000 after purchasing an additional 1,538,827 shares during the period. Wellington Management Group LLP boosted its holdings 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 buying an additional 1,166,460 shares in the last quarter. Fiera Capital Corp bought a new position in shares of Travere Therapeutics during the 4th quarter worth approximately $33,398,000. Perceptive Advisors LLC acquired a new stake in shares of Travere Therapeutics during the 2nd quarter worth approximately $12,347,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Travere Therapeutics during the second quarter valued at approximately $10,348,000.

Insider Activity

In other Travere Therapeutics news, Director Timothy Coughlin sold 10,000 shares of the business's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.07, for a total value of $500,700.00. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $50.00, for a total transaction of $225,000.00. Following the transaction, the director directly owned 41,500 shares of the company's stock, valued at $2,075,000. This represents a 9.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.44% of the stock is currently owned by corporate insiders.

Travere Therapeutics Trading Up 1.2%

Shares of Travere Therapeutics stock opened at $62.14 on Friday. Travere Therapeutics, Inc. has a 1 year low of $17.05 and a 1 year high of $66.24. The firm has a market cap of $5.86 billion, a PE ratio of -135.08 and a beta of 1.12. The stock has a fifty day moving average price of $56.51 and a 200-day moving average price of $42.42. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.99.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Weiss Ratings lowered Travere Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, June 23rd. Guggenheim upped their target price on shares of Travere Therapeutics from $65.00 to $75.00 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 company a "buy" rating in a report on Thursday, August 6th. HC Wainwright raised their price target on shares of Travere Therapeutics from $57.00 to $67.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Travere Therapeutics from $50.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $61.67.

About Travere Therapeutics

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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