Connor Clark & Lunn Investment Management Ltd. Sells 98,655 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 18.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 426,726 shares of the company's stock after selling 98,655 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.55% of Travere Therapeutics worth $7,434,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of TVTX. Finepoint Capital LP lifted its position in Travere Therapeutics by 0.3% during the third quarter. Finepoint Capital LP now owns 1,782,267 shares of the company's stock worth $24,934,000 after acquiring an additional 5,539 shares during the last quarter. Geode Capital Management LLC grew its position in 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 buying an additional 64,744 shares in the last quarter. Parkman Healthcare Partners LLC increased its stake in Travere Therapeutics by 12.0% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,086,067 shares of the company's stock worth $15,194,000 after acquiring an additional 116,175 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Travere Therapeutics by 37.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 843,300 shares of the company's stock valued at $11,798,000 after purchasing an additional 228,300 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in shares of Travere Therapeutics during the 4th quarter worth approximately $14,222,000.

Remove Ads

Analyst Ratings Changes

Several equities research analysts have weighed in on TVTX shares. Scotiabank upped their target price on Travere Therapeutics from $27.00 to $32.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, February 12th. HC Wainwright lifted their target price on Travere Therapeutics from $18.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. Cantor Fitzgerald reissued an "overweight" rating on shares of Travere Therapeutics in a research note on Friday, February 21st. Evercore ISI raised their price target on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Travere Therapeutics from $42.00 to $44.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $30.62.

Travere Therapeutics Trading Up 6.0 %

Shares of TVTX stock traded up $1.18 on Monday, hitting $20.91. The company had a trading volume of 598,827 shares, compared to its average volume of 1,404,581. The stock's 50-day moving average is $20.33 and its two-hundred day moving average is $17.83. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The firm has a market cap of $1.86 billion, a P/E ratio of -5.11 and a beta of 0.75. Travere Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $25.29.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.15). 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 $74.79 million for the quarter, compared to the consensus estimate of $72.38 million. On average, equities research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Activity at Travere Therapeutics

In related news, insider Jula Inrig sold 2,066 shares of the business's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $19.10, for a total transaction of $39,460.60. Following the transaction, the insider now owns 59,883 shares in the company, valued at $1,143,765.30. The trade was a 3.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sandra Calvin sold 54,244 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the transaction, the chief accounting officer now directly owns 54,410 shares in the company, valued at approximately $1,360,250. This represents a 49.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,335 shares of company stock worth $4,453,012 over the last quarter. Company insiders own 3.75% of the company's stock.

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.