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

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 18.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 426,726 shares of the company's stock after selling 98,655 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.55% of Travere Therapeutics worth $7,434,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. E Fund Management Co. Ltd. bought a new stake in Travere Therapeutics during the fourth quarter valued at $217,000. Arizona State Retirement System increased its stake in Travere Therapeutics by 13.5% during the fourth quarter. Arizona State Retirement System now owns 22,396 shares of the company's stock valued at $390,000 after purchasing an additional 2,666 shares during the last quarter. Aigen Investment Management LP increased its stake in Travere Therapeutics by 56.6% during the fourth quarter. Aigen Investment Management LP now owns 19,072 shares of the company's stock valued at $332,000 after purchasing an additional 6,892 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Travere Therapeutics during the fourth quarter valued at $182,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Travere Therapeutics by 16.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 661,603 shares of the company's stock valued at $11,525,000 after purchasing an additional 94,194 shares during the last quarter.

Remove Ads

Analysts Set New Price Targets

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

Travere Therapeutics Trading Down 3.8 %

NASDAQ TVTX traded down $0.79 on Tuesday, hitting $20.08. 224,162 shares of the company were exchanged, compared to its average volume of 1,403,206. The company's 50 day moving average price is $20.37 and its 200-day moving average price is $17.91. 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 firm has a market capitalization of $1.78 billion, a P/E ratio of -4.90 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 posted its quarterly earnings data 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). The company had revenue of $74.79 million for the quarter, compared to analyst estimates of $72.38 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. Analysts predict that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Sandra Calvin sold 15,000 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $17.22, for a total value of $258,300.00. Following the transaction, the chief accounting officer now owns 54,927 shares in the company, valued at approximately $945,842.94. This represents a 21.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Eric M. Dube sold 50,691 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $20.21, for a total value of $1,024,465.11. Following the completion of the transaction, the chief executive officer now owns 430,548 shares in the company, valued at $8,701,375.08. This represents a 10.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,335 shares of company stock worth $4,453,012 in the last 90 days. 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.