392,000 Shares in Travere Therapeutics, Inc. (NASDAQ:TVTX) Purchased by abrdn plc

abrdn plc acquired a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 392,000 shares of the company's stock, valued at approximately $6,829,000. abrdn plc owned about 0.50% of Travere Therapeutics as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Aigen Investment Management LP bought a new position in Travere Therapeutics in the 3rd quarter valued at $170,000. Oppenheimer & Co. Inc. bought a new position in Travere Therapeutics in the 3rd quarter valued at $673,000. FMR LLC grew its position in Travere Therapeutics by 27.5% in the 3rd quarter. FMR LLC now owns 147,416 shares of the company's stock valued at $2,062,000 after acquiring an additional 31,772 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of Travere Therapeutics by 30.2% during the 3rd quarter. Two Sigma Advisers LP now owns 720,400 shares of the company's stock worth $10,078,000 after buying an additional 167,100 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Travere Therapeutics by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company's stock worth $24,222,000 after buying an additional 64,744 shares in the last quarter.

Insider Buying and Selling at Travere Therapeutics

In other news, Director Roy D. Baynes sold 10,000 shares of the firm's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $22.00, for a total value of $220,000.00. Following the completion of the transaction, the director now directly owns 31,000 shares in the company, valued at $682,000. This trade represents a 24.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP William E. Rote sold 2,437 shares of the firm's stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $47,424.02. Following the completion of the transaction, the senior vice president now owns 83,170 shares of the company's stock, valued at approximately $1,618,488.20. The trade was a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 144,532 shares of company stock worth $2,845,498. 3.75% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. HC Wainwright increased their price target on Travere Therapeutics from $18.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. Cantor Fitzgerald assumed coverage on Travere Therapeutics in a research report on Friday, January 10th. They set an "overweight" rating on the stock. Wells Fargo & Company raised Travere Therapeutics from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. Piper Sandler increased their price target on Travere Therapeutics from $12.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. Finally, Scotiabank increased their price target on Travere Therapeutics from $23.00 to $27.00 and gave the stock a "sector outperform" rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Travere Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $24.00.

Travere Therapeutics Stock Up 13.0 %

Travere Therapeutics stock traded up $2.74 during midday trading on Tuesday, reaching $23.84. The company's stock had a trading volume of 4,954,475 shares, compared to its average volume of 1,501,653. The stock's 50-day simple moving average is $18.89 and its 200-day simple moving average is $15.81. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. Travere Therapeutics, Inc. has a 52-week low of $5.12 and a 52-week high of $25.29. The stock has a market capitalization of $1.86 billion, a P/E ratio of -5.25 and a beta of 0.72.

Travere Therapeutics 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.