HighVista Strategies LLC Decreases Stake in Travere Therapeutics, Inc. (NASDAQ:TVTX)

HighVista Strategies LLC lowered its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 32.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 147,233 shares of the company's stock after selling 72,183 shares during the quarter. HighVista Strategies LLC owned 0.19% of Travere Therapeutics worth $2,060,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bellevue Group AG bought a new stake in shares of Travere Therapeutics in the 3rd quarter valued at approximately $434,000. PDT Partners LLC boosted its stake in Travere Therapeutics by 10.7% during the third quarter. PDT Partners LLC now owns 264,273 shares of the company's stock worth $3,697,000 after buying an additional 25,490 shares during the period. Walleye Capital LLC increased its position in Travere Therapeutics by 70.1% during the third quarter. Walleye Capital LLC now owns 488,453 shares of the company's stock valued at $6,833,000 after acquiring an additional 201,282 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Travere Therapeutics by 20.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,969 shares of the company's stock valued at $279,000 after acquiring an additional 3,458 shares during the last quarter. Finally, Acuta Capital Partners LLC purchased a new stake in shares of Travere Therapeutics in the third quarter valued at $266,000.

Insider Transactions at Travere Therapeutics

In related news, CFO Christopher R. Cline sold 2,490 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $28,684.80. Following the transaction, the chief financial officer now owns 74,595 shares in the company, valued at approximately $859,334.40. This trade represents a 3.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP William E. Rote sold 4,387 shares of the business's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $50,538.24. Following the completion of the sale, the senior vice president now directly owns 84,455 shares in the company, valued at approximately $972,921.60. The trade was a 4.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,797 shares of company stock valued at $1,725,559 over the last ninety days. Insiders own 4.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on Travere Therapeutics from $20.00 to $23.00 and gave the company an "overweight" rating in a research report on Friday, September 13th. Leerink Partners reaffirmed an "outperform" rating and issued a $20.00 price target on shares of Travere Therapeutics in a report on Tuesday, October 8th. Citigroup lowered their price objective on Travere Therapeutics from $23.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, September 27th. Wedbush increased their price target on Travere Therapeutics from $17.00 to $25.00 and gave the company an "outperform" rating in a research note on Wednesday, October 9th. Finally, Canaccord Genuity Group decreased their price objective on shares of Travere Therapeutics from $23.00 to $22.00 and set a "buy" rating for the company in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $22.62.

Travere Therapeutics Stock Performance

Shares of TVTX stock traded down $0.19 during trading hours on Tuesday, hitting $19.38. The company's stock had a trading volume of 1,637,995 shares, compared to its average volume of 1,396,557. Travere Therapeutics, Inc. has a 12-month low of $5.12 and a 12-month high of $20.33. The company has a 50 day moving average of $17.28 and a 200 day moving average of $11.96. 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 (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.71) by $0.01. The company had revenue of $62.90 million for the quarter, compared to the consensus estimate of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. Travere Therapeutics's revenue for the quarter was up 69.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.17) earnings per share. Equities analysts expect that Travere Therapeutics, Inc. will post -3.94 earnings per share for the current year.

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.