Travere Therapeutics, Inc. (NASDAQ:TVTX) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lessened its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 346,068 shares of the company’s stock after selling 2,062 shares during the period. Cubist Systematic Strategies LLC owned 0.45% of Travere Therapeutics worth $2,845,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TVTX. Assenagon Asset Management S.A. grew its position in 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 acquiring an additional 1,995,419 shares during the period. Russell Investments Group Ltd. increased its position 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 worth $1,423,000 after purchasing an additional 81,611 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Travere Therapeutics in the 1st quarter valued at about $452,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Travere Therapeutics in the fourth quarter valued at about $5,711,000. Finally, Acadian Asset Management LLC lifted its position in Travere Therapeutics by 202.6% in the second quarter. Acadian Asset Management LLC now owns 144,901 shares of the company’s stock valued at $1,190,000 after buying an additional 97,020 shares during the last quarter.

Travere Therapeutics Stock Performance

Shares of TVTX opened at $16.41 on Friday. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -8.73 and a beta of 0.73. Travere Therapeutics, Inc. has a 52-week low of $5.12 and a 52-week high of $18.60. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96. The stock has a 50 day moving average price of $11.78 and a 200 day moving average price of $8.96.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share 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 for the quarter, compared to analysts’ expectations of $49.50 million. Research analysts predict that Travere Therapeutics, Inc. will post -3.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TVTX shares. Piper Sandler upped their price objective 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. Bank of America increased their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday. Wedbush boosted their target price on Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday. HC Wainwright reduced their price target on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Finally, Canaccord Genuity Group cut their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Travere Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $19.75.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CFO Christopher R. Cline sold 2,490 shares of the firm’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 $28,684.80. Following the transaction, the chief financial officer now owns 74,595 shares of the company’s stock, valued at approximately $859,334.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Travere Therapeutics news, CFO Christopher R. Cline sold 2,490 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $28,684.80. Following the completion of the sale, the chief financial officer now owns 74,595 shares in the company, valued at approximately $859,334.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP William E. Rote sold 4,387 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 84,455 shares in the company, valued at approximately $972,921.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,707 shares of company stock valued at $1,504,312 over the last ninety days. 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.