Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock Position Lessened by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 41.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,338 shares of the company's stock after selling 19,707 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Travere Therapeutics were worth $476,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tudor Investment Corp ET AL lifted its stake in Travere Therapeutics by 13.3% in the fourth quarter. Tudor Investment Corp ET AL now owns 43,213 shares of the company's stock worth $753,000 after acquiring an additional 5,069 shares during the period. Quarry LP raised its position in Travere Therapeutics by 60.0% during the fourth quarter. Quarry LP now owns 12,000 shares of the company's stock valued at $209,000 after acquiring an additional 4,500 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in Travere Therapeutics in the fourth quarter valued at approximately $557,000. Syon Capital LLC purchased a new stake in Travere Therapeutics in the 4th quarter worth approximately $269,000. Finally, Silverarc Capital Management LLC acquired a new stake in shares of Travere Therapeutics during the 4th quarter worth approximately $4,832,000.

Travere Therapeutics Price Performance

Travere Therapeutics stock traded down $1.17 during mid-day trading on Wednesday, reaching $16.39. The company had a trading volume of 848,611 shares, compared to its average volume of 1,738,481. The stock's 50-day simple moving average is $18.17 and its 200-day simple moving average is $18.90. Travere Therapeutics, Inc. has a 1 year low of $6.14 and a 1 year high of $25.29. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The company has a market capitalization of $1.46 billion, a P/E ratio of -4.01 and a beta of 0.88.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.47) EPS for the quarter, beating analysts' consensus estimates of ($0.55) by $0.08. The business had revenue of $81.73 million for the quarter, compared to analyst estimates of $77.44 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The business's revenue for the quarter was up 83.3% compared to the same quarter last year. During the same quarter last year, the company earned ($1.76) earnings per share. On average, equities analysts predict that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a research report on Friday, April 11th. Canaccord Genuity Group increased their price objective on shares of Travere Therapeutics from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Thursday, April 10th. Citigroup restated a "buy" rating on shares of Travere Therapeutics in a research note on Friday, May 16th. Bank of America increased their target price on shares of Travere Therapeutics from $29.00 to $31.00 and gave the company a "buy" rating in a research report on Tuesday, April 1st. Finally, Guggenheim reiterated a "buy" rating and issued a $47.00 price target on shares of Travere Therapeutics in a research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $31.79.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, insider Peter Heerma sold 1,771 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $37,279.55. Following the sale, the insider now directly owns 128,215 shares in the company, valued at approximately $2,698,925.75. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Christopher R. Cline sold 1,784 shares of Travere Therapeutics stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $37,553.20. Following the completion of the sale, the chief financial officer now owns 93,126 shares in the company, valued at approximately $1,960,302.30. This represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,527 shares of company stock worth $473,814. Corporate insiders own 4.19% 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.