Fmr LLC Acquires 31,772 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

FMR LLC raised its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 27.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 147,416 shares of the company's stock after buying an additional 31,772 shares during the quarter. FMR LLC owned 0.19% of Travere Therapeutics worth $2,062,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TVTX. The Manufacturers Life Insurance Company raised its holdings in shares of Travere Therapeutics by 61.6% during the third quarter. The Manufacturers Life Insurance Company now owns 47,045 shares of the company's stock valued at $658,000 after acquiring an additional 17,931 shares during the period. Intech Investment Management LLC purchased a new stake in Travere Therapeutics in the 3rd quarter worth about $283,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Travere Therapeutics by 11.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 525,381 shares of the company's stock worth $7,350,000 after acquiring an additional 52,985 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Travere Therapeutics during the 3rd quarter worth about $673,000. Finally, Aigen Investment Management LP purchased a new position in Travere Therapeutics during the 3rd quarter valued at about $170,000.

Insiders Place Their Bets

In other Travere Therapeutics news, Director Gary A. Lyons sold 40,000 shares of the business's stock in a transaction on Friday, October 4th. The stock was sold at an average price of $14.73, for a total value of $589,200.00. Following the transaction, the director now owns 51,000 shares of the company's stock, valued at approximately $751,230. The trade was a 43.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sandra Calvin sold 12,090 shares of Travere Therapeutics stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $18.30, for a total value of $221,247.00. Following the completion of the transaction, the chief accounting officer now directly owns 54,927 shares of the company's stock, valued at $1,005,164.10. This represents a 18.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,090 shares of company stock worth $1,372,847 over the last three months. 3.75% of the stock is currently owned by corporate insiders.

Travere Therapeutics Stock Performance

Shares of TVTX stock traded down $0.59 during mid-day trading on Friday, reaching $17.32. The stock had a trading volume of 1,117,852 shares, compared to its average volume of 1,092,766. The firm has a market cap of $1.35 billion, a PE ratio of -3.81 and a beta of 0.69. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a one year low of $5.12 and a one year high of $20.33. The firm's 50 day simple moving average is $18.08 and its 200 day simple moving average is $12.74.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping analysts' consensus estimates of ($0.71) by $0.01. The company had revenue of $62.90 million during the quarter, compared to the consensus estimate of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The firm's revenue for the quarter was up 69.6% compared to the same quarter last year. During the same period last year, the firm earned ($1.17) EPS. On average, analysts forecast that Travere Therapeutics, Inc. will post -3.94 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TVTX shares. Wells Fargo & Company raised shares of 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. Citigroup decreased their target price 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. Guggenheim upped their price target on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Bank of America lifted their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Finally, Piper Sandler lifted their target price on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Travere Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.62.

About Travere Therapeutics

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.