Charles Schwab Investment Management Inc. Buys 94,194 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Charles Schwab Investment Management Inc. boosted its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 16.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 661,603 shares of the company's stock after buying an additional 94,194 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.85% of Travere Therapeutics worth $11,525,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TVTX. Jennison Associates LLC bought a new stake in shares of Travere Therapeutics in the fourth quarter valued at about $14,222,000. abrdn plc purchased a new stake in shares of Travere Therapeutics during the 4th quarter valued at approximately $6,829,000. Impax Asset Management Group plc acquired a new stake in Travere Therapeutics during the fourth quarter worth approximately $5,226,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Travere Therapeutics by 37.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 843,300 shares of the company's stock worth $11,798,000 after buying an additional 228,300 shares during the last quarter. Finally, Walleye Capital LLC raised its stake in shares of Travere Therapeutics by 70.1% in the 3rd 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 period.

Analysts Set New Price Targets

A number of research analysts have weighed in on TVTX shares. Canaccord Genuity Group boosted their target price on shares of Travere Therapeutics from $22.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Citigroup increased their price objective on Travere Therapeutics from $31.00 to $35.00 and gave the company a "buy" rating in a report on Monday, February 24th. HC Wainwright upped their price target on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. JPMorgan Chase & Co. lifted their price target on shares of Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Finally, Evercore ISI raised their target price on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a research note 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 company's stock. Based on data from MarketBeat, Travere Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $30.62.

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Insider Activity

In related news, insider Peter Heerma sold 1,584 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total transaction of $30,000.96. Following the completion of the transaction, the insider now directly owns 106,374 shares in the company, valued at approximately $2,014,723.56. This trade represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP William E. Rote sold 2,437 shares of Travere Therapeutics stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total value of $47,424.02. Following the completion of the sale, the senior vice president now directly owns 83,170 shares in the company, valued at approximately $1,618,488.20. This represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,335 shares of company stock worth $4,453,012 in the last 90 days. Corporate insiders own 3.75% of the company's stock.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock traded down $0.28 during trading on Tuesday, reaching $21.01. The company's stock had a trading volume of 975,519 shares, compared to its average volume of 1,419,300. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The stock has a market capitalization of $1.86 billion, a P/E ratio of -5.12 and a beta of 0.75. The stock has a 50-day moving average price of $20.56 and a two-hundred day moving average price of $18.30. Travere Therapeutics, Inc. has a one year low of $5.12 and a one year high of $25.29.

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

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.