Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock Position Reduced by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lessened its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 85.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,604 shares of the company's stock after selling 241,745 shares during the period. Price T Rowe Associates Inc. MD owned about 0.05% of Travere Therapeutics worth $690,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Entropy Technologies LP bought a new position in Travere Therapeutics during the 4th quarter worth approximately $214,000. US Bancorp DE lifted its holdings in Travere Therapeutics by 323.4% during the 4th quarter. US Bancorp DE now owns 31,795 shares of the company's stock worth $554,000 after buying an additional 24,286 shares during the last quarter. Swiss National Bank lifted its holdings in Travere Therapeutics by 12.8% during the 4th quarter. Swiss National Bank now owns 151,900 shares of the company's stock worth $2,646,000 after buying an additional 17,200 shares during the last quarter. Jennison Associates LLC bought a new position in Travere Therapeutics during the 4th quarter worth approximately $14,222,000. Finally, Wellington Management Group LLP bought a new position in Travere Therapeutics during the 4th quarter worth approximately $583,000.

Insider Activity at Travere Therapeutics

In other news, insider Peter Heerma sold 1,771 shares of Travere Therapeutics stock in a transaction on Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $37,279.55. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher R. Cline sold 1,784 shares of the business'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 $37,553.20. Following the completion of the sale, the chief financial officer now directly owns 93,126 shares in the company, valued at $1,960,302.30. This represents a 1.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,727 shares of company stock worth $596,170 in the last three months. 4.19% of the stock is owned by company insiders.

Travere Therapeutics Stock Up 7.6%

TVTX opened at $21.54 on Tuesday. Travere Therapeutics, Inc. has a 12 month low of $6.01 and a 12 month 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 stock has a market cap of $1.91 billion, a P/E ratio of -5.25 and a beta of 0.88. The stock's 50 day moving average price is $18.11 and its 200 day moving average price is $18.86.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TVTX. Bank of America raised their price target on Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Evercore ISI raised their price target on Travere Therapeutics from $33.00 to $45.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. raised their price target on Travere Therapeutics from $42.00 to $44.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Citigroup raised their price target on Travere Therapeutics from $31.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Finally, HC Wainwright raised their price target on Travere Therapeutics from $18.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $31.79.

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.

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