Travere Therapeutics, Inc. (NASDAQ:TVTX) Shares Sold by XTX Topco Ltd

XTX Topco Ltd lowered its position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 73.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,205 shares of the company's stock after selling 40,057 shares during the quarter. XTX Topco Ltd's holdings in Travere Therapeutics were worth $199,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC lifted its stake in 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 buying an additional 3,065 shares in the last quarter. DRW Securities LLC purchased a new stake in shares of Travere Therapeutics in the second quarter valued at $95,000. Quarry LP acquired a new stake in shares of Travere Therapeutics during the third quarter valued at $105,000. Forefront Analytics LLC increased its position in Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company's stock worth $109,000 after purchasing an additional 1,237 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in Travere Therapeutics during the 2nd quarter worth about $117,000.

Travere Therapeutics Trading Down 1.3 %

Shares of NASDAQ TVTX traded down $0.22 during midday trading on Friday, hitting $17.18. The stock had a trading volume of 3,699,463 shares, compared to its average volume of 1,396,496. 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. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -3.78 and a beta of 0.69. The company has a fifty day moving average price of $18.17 and a 200 day moving average price of $13.01.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $62.90 million for the quarter, compared to analysts' expectations of $60.87 million. During the same period in the previous year, the company posted ($1.17) earnings per share. Travere Therapeutics's revenue was up 69.6% compared to the same quarter last year. On average, analysts predict that Travere Therapeutics, Inc. will post -3.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TVTX. Piper Sandler raised their price target on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. HC Wainwright decreased their target price 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. Leerink Partners reiterated an "outperform" rating and issued a $20.00 price target on shares of Travere Therapeutics in a report on Tuesday, October 8th. Wedbush raised their price objective on Travere Therapeutics from $17.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company upgraded Travere Therapeutics from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $9.00 to $27.00 in a research note on Monday, October 21st. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Travere Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $23.67.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CAO Sandra Calvin sold 12,090 shares of the company'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 sale, the chief accounting officer now owns 54,927 shares in the company, valued at $1,005,164.10. This represents a 18.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gary A. Lyons sold 40,000 shares of the firm's stock in a transaction on Friday, October 4th. The stock was sold at an average price of $14.73, for a total value of $589,200.00. Following the transaction, the director now owns 51,000 shares in the company, valued at $751,230. This trade represents a 43.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,090 shares of company stock worth $1,372,847. 4.06% of the stock is currently owned by corporate insiders.

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.