Vanguard Group Inc. Raises Stock Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Vanguard Group Inc. grew its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 10.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,667,458 shares of the company's stock after purchasing an additional 460,176 shares during the quarter. Vanguard Group Inc. owned about 6.21% of Travere Therapeutics worth $41,727,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of Travere Therapeutics by 31.2% during the second quarter. State Street Corp now owns 5,732,636 shares of the company's stock worth $88,053,000 after buying an additional 1,364,759 shares in the last quarter. Avidity Partners Management LP acquired a new stake in shares of Travere Therapeutics in the 3rd quarter valued at approximately $11,828,000. Walleye Capital LLC increased its holdings in Travere Therapeutics by 1,679.9% during the second quarter. Walleye Capital LLC now owns 733,862 shares of the company's stock worth $11,272,000 after buying an additional 692,631 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in Travere Therapeutics by 171.9% during the second quarter. Nuveen Asset Management LLC now owns 890,777 shares of the company's stock worth $13,682,000 after purchasing an additional 563,124 shares during the period. Finally, Renaissance Technologies LLC increased its position in Travere Therapeutics by 34.6% during the first quarter. Renaissance Technologies LLC now owns 2,144,822 shares of the company's stock worth $48,237,000 after buying an additional 551,300 shares during the last quarter.

Travere Therapeutics Trading Down 2.8 %

NASDAQ TVTX traded down $0.19 on Wednesday, hitting $6.67. 3,591,107 shares of the company's stock were exchanged, compared to its average volume of 1,230,406. The stock has a 50-day moving average of $7.94 and a 200-day moving average of $7.85. Travere Therapeutics, Inc. has a 52 week low of $5.25 and a 52 week high of $22.75. The company has a quick ratio of 3.41, a current ratio of 3.47 and a debt-to-equity ratio of 1.88.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($1.16) earnings per share for the quarter, topping the consensus estimate of ($1.27) by $0.11. Travere Therapeutics had a negative return on equity of 177.97% and a negative net margin of 56.02%. The business had revenue of $45.06 million during the quarter, compared to the consensus estimate of $41.25 million. On average, analysts expect that Travere Therapeutics, Inc. will post -3.1 EPS for the current fiscal year.

Insider Activity

In other Travere Therapeutics news, SVP William E. Rote sold 4,764 shares of the firm's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $8.71, for a total value of $41,494.44. Following the sale, the senior vice president now owns 80,720 shares in the company, valued at $703,071.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Travere Therapeutics news, SVP William E. Rote sold 4,764 shares of the company's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $8.71, for a total value of $41,494.44. Following the completion of the transaction, the senior vice president now owns 80,720 shares of the company's stock, valued at approximately $703,071.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Eric M. Dube sold 19,122 shares of Travere Therapeutics stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $8.70, for a total value of $166,361.40. Following the sale, the chief executive officer now directly owns 350,600 shares in the company, valued at $3,050,220. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,976 shares of company stock worth $419,409. Corporate insiders own 4.06% of the company's stock.

Analyst Upgrades and Downgrades

TVTX has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their target price on Travere Therapeutics from $8.00 to $10.00 and gave the stock a "hold" rating in a report on Monday, December 18th. Guggenheim reaffirmed a "neutral" rating on shares of Travere Therapeutics in a report on Wednesday, March 27th. Wedbush restated an "outperform" rating and set a $13.00 price objective on shares of Travere Therapeutics in a report on Friday, February 16th. Wells Fargo & Company boosted their price target on Travere Therapeutics from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Friday, February 16th. Finally, HC Wainwright reiterated a "buy" rating and set a $17.00 price objective on shares of Travere Therapeutics in a research report on Wednesday, March 13th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.85.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.