Pictet Asset Management Holding SA Sells 53,518 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Pictet Asset Management Holding SA lessened its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 709,390 shares of the company's stock after selling 53,518 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.91% of Travere Therapeutics worth $12,358,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TVTX. R Squared Ltd acquired a new position in shares of Travere Therapeutics in the fourth quarter valued at about $53,000. Quarry LP acquired a new stake in shares of Travere Therapeutics in the third quarter valued at approximately $105,000. Victory Capital Management Inc. acquired a new stake in Travere Therapeutics during the fourth quarter worth approximately $182,000. Baader Bank Aktiengesellschaft bought a new position in Travere Therapeutics during the 4th quarter worth $192,000. Finally, Entropy Technologies LP acquired a new position in Travere Therapeutics in the 4th quarter valued at $214,000.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. HC Wainwright raised their price target on Travere Therapeutics from $18.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. Canaccord Genuity Group lifted their price objective on shares of Travere Therapeutics from $22.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Evercore ISI lifted their price target on Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. boosted their target price on Travere Therapeutics from $42.00 to $44.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Travere Therapeutics in a report on Thursday. One 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, Travere Therapeutics has an average rating of "Moderate Buy" and an average target price of $31.46.

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Travere Therapeutics Trading Down 9.5 %

Shares of NASDAQ:TVTX traded down $1.57 during mid-day trading on Friday, hitting $14.99. The company had a trading volume of 2,863,838 shares, compared to its average volume of 1,499,930. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. Travere Therapeutics, Inc. has a one year low of $5.12 and a one year high of $25.29. The firm has a fifty day moving average price of $20.59 and a 200 day moving average price of $18.58. The company has a market capitalization of $1.33 billion, a PE ratio of -3.66 and a beta of 0.84.

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

Insiders Place Their Bets

In related news, CEO Eric M. Dube sold 10,736 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $208,922.56. Following the transaction, the chief executive officer now directly owns 351,239 shares in the company, valued at $6,835,110.94. This trade represents a 2.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP William E. Rote sold 2,437 shares of the business's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total transaction of $47,424.02. Following the sale, the senior vice president now owns 83,170 shares of the company's stock, valued at $1,618,488.20. This trade represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,269 shares of company stock worth $4,155,251. Corporate insiders own 3.75% of the company's stock.

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.