Knott David M Jr Sells 30,231 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Knott David M Jr reduced its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 11.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 228,000 shares of the company's stock after selling 30,231 shares during the period. Travere Therapeutics makes up about 1.4% of Knott David M Jr's investment portfolio, making the stock its 11th largest position. Knott David M Jr owned about 0.29% of Travere Therapeutics worth $3,972,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in TVTX. Jennison Associates LLC acquired a new stake in Travere Therapeutics during the fourth quarter worth about $14,222,000. abrdn plc acquired a new stake in shares of Travere Therapeutics during the 4th quarter worth approximately $6,829,000. Prudential Financial Inc. increased its position in shares of Travere Therapeutics by 60.5% during the fourth quarter. Prudential Financial Inc. now owns 969,141 shares of the company's stock valued at $16,882,000 after purchasing an additional 365,200 shares during the period. Impax Asset Management Group plc bought a new stake in shares of Travere Therapeutics during the fourth quarter valued at approximately $5,226,000. Finally, Two Sigma Advisers LP raised its stake in shares of Travere Therapeutics by 30.2% in the third quarter. Two Sigma Advisers LP now owns 720,400 shares of the company's stock valued at $10,078,000 after purchasing an additional 167,100 shares in the last quarter.

Insider Activity at Travere Therapeutics

In other news, SVP William E. Rote sold 5,200 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $23.53, for a total value of $122,356.00. Following the transaction, the senior vice president now owns 98,519 shares of the company's stock, valued at approximately $2,318,152.07. This trade represents a 5.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric M. Dube sold 10,736 shares of Travere Therapeutics stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total transaction of $208,922.56. Following the sale, the chief executive officer now owns 351,239 shares of the company's stock, valued at approximately $6,835,110.94. This represents a 2.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,269 shares of company stock worth $4,155,251 over the last 90 days. Insiders own 3.75% of the company's stock.

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Travere Therapeutics Price Performance

TVTX traded down $1.57 during trading on Friday, hitting $14.99. The company's stock had a trading volume of 2,863,428 shares, compared to its average volume of 1,499,929. The firm's 50 day moving average price is $20.59 and its two-hundred day moving average price is $18.58. 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 stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -3.66 and a beta of 0.84. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $25.29.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.15). The company had revenue of $74.79 million during the quarter, compared to the consensus estimate of $72.38 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. Sell-side analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TVTX has been the topic of several analyst reports. Cantor Fitzgerald reissued an "overweight" rating on shares of Travere Therapeutics in a report on Thursday. JPMorgan Chase & Co. upped their target price on shares of Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Canaccord Genuity Group raised their price target on shares of Travere Therapeutics from $22.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Bank of America lifted their price objective on Travere Therapeutics from $29.00 to $31.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Scotiabank increased their target price on Travere Therapeutics from $27.00 to $32.00 and gave the stock a "sector outperform" rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $31.46.

Travere Therapeutics 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.