71,000 Shares in Travere Therapeutics, Inc. (NASDAQ:TVTX) Acquired by Norges Bank

Norges Bank purchased a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 71,000 shares of the company's stock, valued at approximately $1,237,000. Norges Bank owned about 0.09% of Travere Therapeutics as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of TVTX. The Manufacturers Life Insurance Company raised its stake in shares of Travere Therapeutics by 61.6% in the third quarter. The Manufacturers Life Insurance Company now owns 47,045 shares of the company's stock valued at $658,000 after buying an additional 17,931 shares during the period. FMR LLC increased its position in shares of Travere Therapeutics by 27.5% during the 3rd quarter. FMR LLC now owns 147,416 shares of the company's stock valued at $2,062,000 after purchasing an additional 31,772 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Travere Therapeutics by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company's stock worth $24,222,000 after acquiring an additional 64,744 shares in the last quarter. Virtu Financial LLC bought a new stake in Travere Therapeutics in the third quarter worth $301,000. Finally, Diversified Trust Co boosted its holdings in Travere Therapeutics by 27.5% during the 4th quarter. Diversified Trust Co now owns 14,701 shares of the company's stock valued at $256,000 after acquiring an additional 3,169 shares during the period.

Analysts Set New Price Targets

Several research analysts have commented on TVTX shares. HC Wainwright upped their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. Citigroup increased their price objective on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a "buy" rating in a research report on Monday, February 24th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Travere Therapeutics in a report on Thursday, April 3rd. Evercore ISI increased their price target on Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Finally, Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a research report on Friday, April 11th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Travere Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $32.08.

Travere Therapeutics Trading Up 0.9 %

NASDAQ:TVTX traded up $0.13 during trading hours on Thursday, hitting $14.70. The company had a trading volume of 135,450 shares, compared to its average volume of 1,513,785. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $25.29. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The company has a 50-day moving average of $19.19 and a 200 day moving average of $18.54. The company has a market cap of $1.30 billion, a P/E ratio of -3.58 and a beta of 0.84.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.15). The firm had revenue of $74.79 million during the quarter, compared to analysts' expectations of $72.38 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. Sell-side analysts expect that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Insider Buying and Selling at Travere Therapeutics

In other news, insider Peter Heerma sold 1,584 shares of the company's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total value of $30,000.96. Following the sale, the insider now directly owns 106,374 shares in the company, valued at $2,014,723.56. This represents a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric M. Dube sold 10,736 shares of the company's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total value of $208,922.56. Following the completion of the transaction, the chief executive officer now owns 351,239 shares of the company's stock, valued at $6,835,110.94. The trade was a 2.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,877 shares of company stock worth $4,147,627 over the last three months. Insiders own 3.75% of the company's stock.

About Travere Therapeutics

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.