Jacobs Levy Equity Management Inc. trimmed its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 15.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,590,377 shares of the company's stock after selling 299,467 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 2.04% of Travere Therapeutics worth $22,249,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Bellevue Group AG acquired a new stake in Travere Therapeutics in the third quarter valued at $434,000. PDT Partners LLC lifted its position in shares of Travere Therapeutics by 10.7% in the third quarter. PDT Partners LLC now owns 264,273 shares of the company's stock valued at $3,697,000 after acquiring an additional 25,490 shares in the last quarter. Walleye Capital LLC lifted its position in shares of Travere Therapeutics by 70.1% in 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Travere Therapeutics by 20.9% in 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 in 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 Activity
In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of the firm's 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 $50,538.24. Following the completion of the sale, the senior vice president now owns 84,455 shares in the company, valued at $972,921.60. This trade represents a 4.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sandra Calvin sold 12,090 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $18.30, for a total value of $221,247.00. Following the sale, the chief accounting officer now owns 54,927 shares of the company's stock, valued at approximately $1,005,164.10. This trade represents a 18.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 122,283 shares of company stock worth $1,720,670. 3.75% of the stock is currently owned by corporate insiders.
Travere Therapeutics Trading Up 0.2 %
Shares of Travere Therapeutics stock traded up $0.04 during trading hours on Thursday, reaching $19.41. The stock had a trading volume of 559,858 shares, compared to its average volume of 1,390,216. The firm has a 50 day simple moving average of $17.47 and a two-hundred day simple moving average of $12.10. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -4.27 and a beta of 0.69. 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 1 year low of $5.12 and a 1 year high of $20.33.
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 analysts' consensus estimates of ($0.71) by $0.01. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The business had revenue of $62.90 million during the quarter, compared to analyst estimates of $60.87 million. During the same quarter last year, the firm earned ($1.17) earnings per share. The company's revenue for the quarter was up 69.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Travere Therapeutics, Inc. will post -3.94 earnings per share for the current year.
Analyst Upgrades and Downgrades
TVTX has been the topic of several recent research reports. Canaccord Genuity Group reduced their price objective on Travere Therapeutics from $23.00 to $22.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. Scotiabank upped their price objective on Travere Therapeutics from $23.00 to $27.00 and gave the company a "sector outperform" rating in a research report on Friday, November 1st. Piper Sandler upped their price objective on Travere Therapeutics from $12.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Leerink Partners reiterated an "outperform" rating and set a $20.00 target price on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Finally, 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 report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Travere Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.62.
Check Out Our Latest Analysis on TVTX
Travere Therapeutics Profile
(
Free Report)
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.
Recommended Stories
![Institutional Ownership by Quarter for Travere Therapeutics (NASDAQ:TVTX)](https://www.marketbeat.com/scripts/SECFilingChart.ashx?Prefix=NASDAQ&Symbol=TVTX)
Before you consider Travere Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Travere Therapeutics wasn't on the list.
While Travere Therapeutics currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link below to learn more about using beta to protect yourself.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.