816,399 Shares in Travere Therapeutics, Inc. (NASDAQ:TVTX) Purchased by Jennison Associates LLC

Jennison Associates LLC bought a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 816,399 shares of the company's stock, valued at approximately $14,222,000. Jennison Associates LLC owned about 1.05% of Travere Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Emerald Advisers LLC increased its holdings in Travere Therapeutics by 19.8% in the 3rd quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company's stock worth $27,430,000 after buying an additional 323,513 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its stake 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 buying an additional 244,444 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Travere Therapeutics by 37.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 843,300 shares of the company's stock worth $11,798,000 after acquiring an additional 228,300 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. Finally, Two Sigma Advisers LP boosted its position in Travere Therapeutics by 30.2% in the third quarter. Two Sigma Advisers LP now owns 720,400 shares of the company's stock worth $10,078,000 after purchasing an additional 167,100 shares during the last quarter.

Analyst Upgrades and Downgrades

TVTX has been the subject of several recent research reports. Cantor Fitzgerald initiated coverage on Travere Therapeutics in a report on Friday, January 10th. They set an "overweight" rating for the company. HC Wainwright raised their price target on Travere Therapeutics from $18.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Barclays upped their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Wells Fargo & Company raised Travere Therapeutics from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $9.00 to $27.00 in a research note on Monday, October 21st. Finally, Scotiabank increased 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. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $24.00.

Insider Activity

In other Travere Therapeutics news, CFO Christopher R. Cline sold 5,192 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $20.12, for a total transaction of $104,463.04. Following the completion of the transaction, the chief financial officer now owns 90,038 shares in the company, valued at $1,811,564.56. The trade was a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric M. Dube sold 50,691 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $20.21, for a total transaction of $1,024,465.11. Following the completion of the sale, the chief executive officer now directly owns 430,548 shares of the company's stock, valued at approximately $8,701,375.08. This trade represents a 10.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,532 shares of company stock valued at $2,625,498 in the last ninety days. Insiders own 3.75% of the company's stock.

Travere Therapeutics Stock Down 0.5 %

Shares of NASDAQ:TVTX traded down $0.11 during trading on Friday, reaching $21.75. The company's stock had a trading volume of 2,442,302 shares, compared to its average volume of 1,303,585. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $22.25. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The firm's 50 day simple moving average is $18.86 and its two-hundred day simple moving average is $15.68.

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.