Profund Advisors LLC Cuts Stake in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Profund Advisors LLC cut its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 63.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,836 shares of the company’s stock after selling 57,898 shares during the period. Profund Advisors LLC’s holdings in Travere Therapeutics were worth $278,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TVTX. Assenagon Asset Management S.A. lifted its holdings in shares of Travere Therapeutics by 912.5% in the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock worth $18,200,000 after buying an additional 1,995,419 shares in the last quarter. Parkman Healthcare Partners LLC lifted its stake in Travere Therapeutics by 76.4% in the 4th quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock worth $9,159,000 after purchasing an additional 441,318 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Travere Therapeutics by 79.2% during the 1st quarter. Russell Investments Group Ltd. now owns 184,623 shares of the company’s stock valued at $1,423,000 after purchasing an additional 81,611 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Travere Therapeutics during the first quarter valued at about $452,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Travere Therapeutics in the fourth quarter worth about $5,711,000.

Travere Therapeutics Stock Down 6.8 %

Shares of NASDAQ:TVTX opened at $14.01 on Friday. 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 12 month low of $5.12 and a 12 month high of $15.36. The firm’s 50-day moving average is $10.66 and its 200 day moving average is $8.44.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $54.12 million for the quarter, compared to the consensus estimate of $49.50 million. As a group, sell-side analysts expect that Travere Therapeutics, Inc. will post -3.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Barclays raised their price target on Travere Therapeutics from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. HC Wainwright reduced their price target 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. 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. Piper Sandler boosted their target price on shares of Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Travere Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $16.82.

Insider Activity at Travere Therapeutics

In other news, SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $50,538.24. Following the completion of the sale, the senior vice president now directly owns 84,455 shares in the company, valued at $972,921.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Travere Therapeutics news, insider Jula Inrig sold 2,191 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $25,240.32. Following the completion of the sale, the insider now directly owns 62,633 shares of the company’s stock, valued at approximately $721,532.16. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP William E. Rote sold 4,387 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $50,538.24. Following the completion of the transaction, the senior vice president now owns 84,455 shares in the company, valued at $972,921.60. The disclosure for this sale can be found here. Insiders sold a total of 30,707 shares of company stock worth $352,712 in the last quarter. 3.75% of the stock is owned by company insiders.

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.