State Street Corp Reduces Stock Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

State Street Corp cut its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 22.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,736,696 shares of the company's stock after selling 773,981 shares during the period. State Street Corp owned 3.51% of Travere Therapeutics worth $38,286,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Aigen Investment Management LP bought a new stake in Travere Therapeutics during the 3rd quarter worth about $170,000. Oppenheimer & Co. Inc. acquired a new stake in Travere Therapeutics during the 3rd quarter worth $673,000. Acadian Asset Management LLC raised its position in shares of Travere Therapeutics by 202.6% during the 2nd quarter. Acadian Asset Management LLC now owns 144,901 shares of the company's stock valued at $1,190,000 after acquiring an additional 97,020 shares during the last quarter. Millennium Management LLC increased its stake in shares of Travere Therapeutics by 33.9% in the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company's stock valued at $24,244,000 after acquiring an additional 747,406 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Travere Therapeutics by 27.5% in the 3rd quarter. FMR LLC now owns 147,416 shares of the company's stock valued at $2,062,000 after buying an additional 31,772 shares during the period.

Insider Buying and Selling

In related news, Director Gary A. Lyons sold 40,000 shares of the firm's stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $14.73, for a total value of $589,200.00. Following the sale, the director now directly owns 51,000 shares of the company's stock, valued at $751,230. This trade represents a 43.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sandra Calvin sold 12,090 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $18.30, for a total transaction of $221,247.00. Following the completion of the transaction, the chief accounting officer now directly owns 54,927 shares of the company's stock, valued at approximately $1,005,164.10. This represents a 18.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,090 shares of company stock valued at $1,372,847. 4.06% of the stock is owned by company insiders.

Travere Therapeutics Trading Down 1.3 %

NASDAQ TVTX traded down $0.22 on Friday, hitting $17.18. The company's stock had a trading volume of 3,699,463 shares, compared to its average volume of 1,396,496. The firm has a market cap of $1.34 billion, a PE ratio of -3.78 and a beta of 0.69. The company's 50-day moving average is $18.17 and its 200 day moving average is $13.01. The company has a quick ratio of 1.68, a current ratio of 1.71 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) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The company had revenue of $62.90 million during the quarter, compared to the consensus estimate of $60.87 million. During the same period in the previous year, the firm posted ($1.17) earnings per share. The firm's revenue for the quarter was up 69.6% on a year-over-year basis. As a group, analysts predict that Travere Therapeutics, Inc. will post -3.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Guggenheim increased their price objective on Travere Therapeutics from $23.00 to $41.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Scotiabank lifted their target price on Travere Therapeutics from $23.00 to $27.00 and gave the stock a "sector outperform" rating in a research note on Friday, November 1st. HC Wainwright dropped their price objective on shares of Travere Therapeutics from $23.00 to $18.00 and set a "buy" rating on the stock in a research report on Friday, September 27th. Canaccord Genuity Group reduced their price objective on Travere Therapeutics from $23.00 to $22.00 and set a "buy" rating for the company in a report on Monday, September 30th. Finally, Barclays lifted their target price on Travere Therapeutics from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $23.67.

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.