Connor Clark & Lunn Investment Management Ltd. Increases Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 11.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 525,381 shares of the company's stock after acquiring an additional 52,985 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.67% of Travere Therapeutics worth $7,350,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Travere Therapeutics by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company's stock valued at $48,310,000 after purchasing an additional 750,686 shares during the last quarter. Millennium Management LLC increased its position in Travere Therapeutics by 33.9% during the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company's stock valued at $24,244,000 after acquiring an additional 747,406 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Travere Therapeutics by 912.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company's stock worth $18,200,000 after acquiring an additional 1,995,419 shares during the last quarter. Emerald Advisers LLC boosted its stake in shares of Travere Therapeutics by 19.8% during the 3rd quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company's stock worth $27,430,000 after purchasing an additional 323,513 shares during the period. Finally, Emerald Mutual Fund Advisers Trust grew its holdings in Travere Therapeutics by 26.0% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company's stock valued at $16,588,000 after purchasing an additional 244,444 shares during the last quarter.

Insider Activity at Travere Therapeutics

In related news, Director Gary A. Lyons sold 40,000 shares of the company's stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $14.73, for a total transaction of $589,200.00. Following the transaction, the director now directly owns 51,000 shares of the company's stock, valued at $751,230. This represents a 43.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Eric M. Dube sold 21,125 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $243,360.00. Following the completion of the sale, the chief executive officer now directly owns 361,975 shares of the company's stock, valued at approximately $4,169,952. This represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,707 shares of company stock valued at $1,504,312 over the last 90 days. Insiders own 3.75% of the company's stock.

Travere Therapeutics Stock Down 0.1 %

Shares of NASDAQ:TVTX traded down $0.01 on Friday, reaching $18.25. The company had a trading volume of 1,102,917 shares, compared to its average volume of 1,430,301. The firm has a market capitalization of $1.42 billion, a PE ratio of -4.01 and a beta of 0.70. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a 52-week low of $5.12 and a 52-week high of $20.33. The firm's 50 day simple moving average is $16.78 and its 200-day simple moving average is $11.41.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.01. The company had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The firm's quarterly revenue was up 69.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.17) earnings per share. As a group, analysts expect that Travere Therapeutics, Inc. will post -3.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TVTX has been the subject of several analyst reports. Citigroup decreased their price objective on shares of Travere Therapeutics from $23.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, September 27th. HC Wainwright dropped their price objective on Travere Therapeutics from $23.00 to $18.00 and set a "buy" rating for the company in a report on Friday, September 27th. Bank of America increased their target price on Travere Therapeutics from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Wells Fargo & Company upgraded shares of Travere Therapeutics from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $9.00 to $27.00 in a report on Monday, October 21st. Finally, Scotiabank lifted their price objective on shares of Travere Therapeutics from $23.00 to $27.00 and gave the company a "sector outperform" rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.62.

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.