Travere Therapeutics, Inc. (NASDAQ:TVTX) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 37.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,374,522 shares of the company's stock after selling 839,577 shares during the quarter. Assenagon Asset Management S.A. owned 1.81% of Travere Therapeutics worth $19,230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning lifted its position in Travere Therapeutics by 4.3% during the third quarter. Creative Planning now owns 23,938 shares of the company's stock valued at $335,000 after buying an additional 995 shares in the last quarter. CWM LLC raised its stake in shares of Travere Therapeutics by 158.5% in the 3rd quarter. CWM LLC now owns 4,999 shares of the company's stock valued at $70,000 after acquiring an additional 3,065 shares during the period. Diversified Trust Co purchased a new position in shares of Travere Therapeutics in the 3rd quarter valued at $161,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Travere Therapeutics by 203.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company's stock valued at $5,055,000 after acquiring an additional 412,000 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Travere Therapeutics during the 2nd quarter worth $291,000.

Insider Activity

In related news, CFO Christopher R. Cline sold 2,490 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 transaction of $28,684.80. Following the transaction, the chief financial officer now directly owns 74,595 shares in the company, valued at $859,334.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Travere Therapeutics news, Director Jeffrey A. Meckler sold 40,000 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $14.06, for a total value of $562,400.00. Following the completion of the transaction, the director now directly owns 81,000 shares in the company, valued at $1,138,860. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Christopher R. Cline sold 2,490 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 value of $28,684.80. Following the completion of the sale, the chief financial officer now directly owns 74,595 shares in the company, valued at approximately $859,334.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,707 shares of company stock worth $1,504,312. 3.75% of the stock is currently owned by insiders.

Travere Therapeutics Stock Down 3.1 %

TVTX stock traded down $0.56 during mid-day trading on Friday, hitting $17.53. 929,999 shares of the company were exchanged, compared to its average volume of 1,395,160. The company has a market capitalization of $1.33 billion, a PE ratio of -8.35 and a beta of 0.73. The firm has a fifty day simple moving average of $13.63 and a 200 day simple moving average of $9.74. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $19.25.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.03). Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. The firm had revenue of $54.12 million during the quarter, compared to the consensus estimate of $49.50 million. On average, research analysts forecast that Travere Therapeutics, Inc. will post -3.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on TVTX. Scotiabank initiated coverage on Travere Therapeutics in a research report on Wednesday, October 16th. They issued a "sector outperform" rating and a $23.00 price objective on the stock. Guggenheim raised their target price on Travere Therapeutics from $23.00 to $41.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price target on Travere Therapeutics from $20.00 to $23.00 and gave the stock an "overweight" rating in a research report on Friday, September 13th. Citigroup lowered their price objective on shares of Travere Therapeutics from $23.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, September 27th. Finally, Barclays boosted their target price on shares of Travere Therapeutics from $14.00 to $18.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $21.38.

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.