Hsbc Holdings PLC Sells 4,482 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Hsbc Holdings PLC reduced its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 8.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 48,994 shares of the company’s stock after selling 4,482 shares during the quarter. Hsbc Holdings PLC’s holdings in Travere Therapeutics were worth $397,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its holdings in Travere Therapeutics by 912.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock valued at $18,200,000 after purchasing an additional 1,995,419 shares in the last quarter. Kynam Capital Management LP increased its holdings in Travere Therapeutics by 105.6% during the 4th quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock valued at $17,980,000 after purchasing an additional 1,027,398 shares in the last quarter. Vanguard Group Inc. increased its holdings in Travere Therapeutics by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock valued at $48,310,000 after purchasing an additional 750,686 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Travere Therapeutics during the 4th quarter valued at $5,711,000. Finally, Parkman Healthcare Partners LLC increased its holdings in Travere Therapeutics by 76.4% during the 4th quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock valued at $9,159,000 after purchasing an additional 441,318 shares in the last quarter.

Travere Therapeutics Price Performance

NASDAQ TVTX opened at $13.99 on Wednesday. Travere Therapeutics, Inc. has a 52 week low of $5.12 and a 52 week high of $15.36. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. The stock has a fifty day moving average of $10.83 and a 200-day moving average of $8.54.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The company had revenue of $54.12 million during the quarter, compared to the consensus estimate of $49.50 million. Analysts forecast that Travere Therapeutics, Inc. will post -3.95 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TVTX. Wedbush raised their price target on Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Citigroup dropped their price target on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 27th. Guggenheim dropped their price target on Travere Therapeutics from $25.00 to $23.00 and set a “buy” rating for the company in a report on Friday, September 27th. Finally, Barclays lifted their target price on Travere Therapeutics from $14.00 to $18.00 and gave the company an “overweight” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.09.

Insider Transactions at Travere Therapeutics

In other news, Director Jeffrey A. Meckler sold 40,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $14.06, for a total value of $562,400.00. Following the transaction, the director now directly owns 81,000 shares in the company, valued at approximately $1,138,860. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Travere Therapeutics news, CFO Christopher R. Cline sold 2,490 shares of Travere Therapeutics stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $28,684.80. Following the transaction, the chief financial officer now directly owns 74,595 shares in the company, valued at $859,334.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey A. Meckler sold 40,000 shares of Travere Therapeutics stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $14.06, for a total value of $562,400.00. Following the transaction, the director now owns 81,000 shares in the company, valued at $1,138,860. The disclosure for this sale can be found here. Insiders have sold 70,707 shares of company stock worth $915,112 in the last three months. Insiders own 3.75% of the company’s stock.

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.