UBS Group AG Has $16.15 Million Position in Travere Therapeutics, Inc. $TVTX

Key Points

• UBS Group AG reduced its stake in Travere Therapeutics by 29.1% in the fourth quarter, selling 173,554 shares and leaving it with 422,619 shares valued at about $16.15 million.
• Company insiders have been selling shares, including director Roy D. Baynes and CEO Eric M. Dube, with insider sales totaling 400,015 shares worth $15.9 million over the last three months.
• Travere reported stronger-than-expected earnings for the quarter, posting $0.05 EPS versus estimates for a loss, while revenue rose 55.6% year over year; analysts currently rate the stock a Moderate Buy with a consensus price target of $47.83.

UBS Group AG cut its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 29.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 422,619 shares of the company's stock after selling 173,554 shares during the quarter. UBS Group AG owned approximately 0.47% of Travere Therapeutics worth $16,148,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arizona State Retirement System raised its position in shares of Travere Therapeutics by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 24,964 shares of the company's stock worth $597,000 after acquiring an additional 375 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Travere Therapeutics by 26.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,348 shares of the company's stock worth $166,000 after acquiring an additional 902 shares in the last quarter. Diversified Trust Co. raised its position in shares of Travere Therapeutics by 5.7% in the 4th quarter. Diversified Trust Co. now owns 25,044 shares of the company's stock worth $957,000 after acquiring an additional 1,349 shares in the last quarter. CWM LLC raised its position in shares of Travere Therapeutics by 11.9% in the 4th quarter. CWM LLC now owns 12,819 shares of the company's stock worth $490,000 after acquiring an additional 1,360 shares in the last quarter. Finally, First Horizon Corp bought a new position in shares of Travere Therapeutics in the 3rd quarter worth about $36,000.

Insider Transactions at Travere Therapeutics

In other news, Director Roy D. Baynes sold 32,750 shares of the business's stock in a transaction that occurred 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 owned 37,500 shares in the company, valued at $1,548,375. The trade was a 46.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric M. Dube sold 64,000 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $41.09, for a total value of $2,629,760.00. Following the completion of the transaction, the chief executive officer owned 432,886 shares in the company, valued at approximately $17,787,285.74. The trade was a 12.88% decrease in their position. 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. Over the last three months, insiders have sold 400,015 shares of company stock worth $15,895,428. 4.44% of the stock is owned by insiders.

Travere Therapeutics Stock Performance

Shares of Travere Therapeutics stock opened at $42.84 on Wednesday. Travere Therapeutics, Inc. has a one year low of $13.88 and a one year high of $48.61. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of -186.25 and a beta of 1.13. The business has a 50-day simple moving average of $33.63 and a 200 day simple moving average of $33.26. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of ($0.24) by $0.29. The business had revenue of $127.20 million during the quarter, compared to analyst estimates of $136.23 million. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The firm's revenue was up 55.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.47) EPS. On average, research analysts anticipate that Travere Therapeutics, Inc. will post -0.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TVTX. TD Cowen lifted their price objective on Travere Therapeutics from $45.00 to $60.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. lowered their price objective on Travere Therapeutics from $44.00 to $41.00 and set an "overweight" rating for the company in a research report on Wednesday, March 25th. Guggenheim lifted their price objective on Travere Therapeutics from $54.00 to $56.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Wedbush lifted their price objective on Travere Therapeutics from $53.00 to $55.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Finally, HC Wainwright lifted their price objective on Travere Therapeutics from $47.00 to $57.00 and gave the stock a "buy" rating in a research report on Tuesday, May 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $47.83.

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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