Travere Therapeutics, Inc. $TVTX Shares Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management boosted its stake in Travere by 347.5% in Q4 and now owns 417,742 shares (about 0.47% of the company) valued at roughly $15.96 million.
• Company insiders have been net sellers, offloading a total of 234,543 shares worth about $7.37 million in the last three months, including notable Feb. 3 sales by Peter Heerma and William E. Rote.
• Travere trades with a market cap of about $2.58 billion, a 52‑week range of $12.91–$42.13, and holds a consensus rating of "Moderate Buy" with a consensus price target near $38.38.

Assenagon Asset Management S.A. boosted its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 347.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 417,742 shares of the company's stock after acquiring an additional 324,387 shares during the quarter. Assenagon Asset Management S.A. owned about 0.47% of Travere Therapeutics worth $15,962,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Diversified Trust Co. increased its holdings in shares of Travere Therapeutics by 5.7% in the fourth quarter. Diversified Trust Co. now owns 25,044 shares of the company's stock valued at $957,000 after purchasing an additional 1,349 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Travere Therapeutics during the fourth quarter worth approximately $224,000. Penn Capital Management Company LLC lifted its holdings in shares of Travere Therapeutics by 39.7% during the third quarter. Penn Capital Management Company LLC now owns 27,004 shares of the company's stock worth $645,000 after purchasing an additional 7,680 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of Travere Therapeutics during the third quarter worth $225,000. Finally, PharVision Advisers LLC purchased a new position in Travere Therapeutics in the 3rd quarter valued at $210,000.

Insider Activity

In other Travere Therapeutics news, insider Peter Heerma sold 7,310 shares of the firm's stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $32.12, for a total transaction of $234,797.20. Following the completion of the transaction, the insider directly owned 131,823 shares in the company, valued at approximately $4,234,154.76. This trade represents a 5.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider William E. Rote sold 12,446 shares of Travere Therapeutics stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $32.87, for a total transaction of $409,100.02. Following the transaction, the insider owned 109,087 shares of the company's stock, valued at approximately $3,585,689.69. The trade was a 10.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 234,543 shares of company stock worth $7,368,175 in the last three months. Company insiders own 4.19% of the company's stock.

Travere Therapeutics Trading Up 1.3%

NASDAQ:TVTX opened at $27.92 on Friday. The company has a market capitalization of $2.58 billion, a PE ratio of -93.06 and a beta of 0.81. The company has a quick ratio of 2.70, a current ratio of 2.74 and a debt-to-equity ratio of 2.71. Travere Therapeutics, Inc. has a 52-week low of $12.91 and a 52-week high of $42.13. The stock has a fifty day simple moving average of $29.08 and a 200-day simple moving average of $30.56.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TVTX shares. Guggenheim reissued a "buy" rating and issued a $49.00 price objective on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. Piper Sandler boosted their price target on shares of Travere Therapeutics from $35.00 to $38.00 and gave the stock a "neutral" rating in a research note on Friday, February 6th. Wall Street Zen cut shares of Travere Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 21st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Travere Therapeutics from $44.00 to $41.00 and set an "overweight" rating for the company in a research report on Wednesday. Eleven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.38.

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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