Los Angeles Capital Management LLC Sells 56,866 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Los Angeles Capital Management LLC cut its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 67.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,951 shares of the company's stock after selling 56,866 shares during the quarter. Los Angeles Capital Management LLC's holdings in Travere Therapeutics were worth $391,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Assenagon Asset Management S.A. grew its stake in shares of Travere Therapeutics by 912.5% in the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company's stock valued at $18,200,000 after buying an additional 1,995,419 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Travere Therapeutics by 79.2% in the first quarter. Russell Investments Group Ltd. now owns 184,623 shares of the company's stock valued at $1,423,000 after buying an additional 81,611 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Travere Therapeutics by 202.6% in the second quarter. Acadian Asset Management LLC now owns 144,901 shares of the company's stock valued at $1,190,000 after buying an additional 97,020 shares in the last quarter. Millennium Management LLC grew its stake in shares of Travere Therapeutics by 33.9% in the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company's stock valued at $24,244,000 after buying an additional 747,406 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in Travere Therapeutics during the 2nd quarter valued at approximately $747,000.

Travere Therapeutics Stock Performance

Shares of NASDAQ TVTX traded down $0.13 during mid-day trading on Monday, hitting $17.59. The company had a trading volume of 257,538 shares, compared to its average volume of 1,400,203. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of -3.89 and a beta of 0.70. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $20.33. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The firm's 50 day simple moving average is $16.27 and its two-hundred day simple moving average is $11.04.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.01. The firm 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%. The firm's revenue for the quarter was up 69.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.17) EPS. As a group, equities research analysts forecast that Travere Therapeutics, Inc. will post -3.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barclays raised their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. HC Wainwright lowered their price objective on Travere Therapeutics from $23.00 to $18.00 and set a "buy" rating for the company in a research note on Friday, September 27th. Wells Fargo & Company upgraded Travere Therapeutics from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $9.00 to $27.00 in a research note on Monday, October 21st. Guggenheim raised their price objective on Travere Therapeutics from $23.00 to $41.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Finally, Canaccord Genuity Group lowered their price objective on Travere Therapeutics from $23.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $22.62.

Insider Buying and Selling at Travere Therapeutics

In related news, SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $50,538.24. Following the transaction, the senior vice president now directly owns 84,455 shares in the company, valued at $972,921.60. The trade was a 4.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric M. Dube sold 21,125 shares of the firm's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $243,360.00. Following the completion of the sale, the chief executive officer now directly owns 361,975 shares of the company's stock, valued at approximately $4,169,952. This trade represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,707 shares of company stock valued at $1,504,312 in the last quarter. Corporate insiders own 3.75% of the company's stock.

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.