Los Angeles Capital Management LLC Sells 56,866 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Los Angeles Capital Management LLC lowered its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 67.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 27,951 shares of the company’s stock after selling 56,866 shares during the period. Los Angeles Capital Management LLC’s holdings in Travere Therapeutics were worth $391,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. EntryPoint Capital LLC bought a new position in shares of Travere Therapeutics during the first quarter valued at $32,000. CWM LLC raised its stake in shares of Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after acquiring an additional 3,065 shares during the last quarter. Diversified Trust Co bought a new position in shares of Travere Therapeutics during the third quarter valued at $161,000. DRW Securities LLC bought a new position in shares of Travere Therapeutics during the second quarter valued at $95,000. Finally, Forefront Analytics LLC raised its stake in shares of Travere Therapeutics by 10.2% during the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after acquiring an additional 1,237 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TVTX shares. Piper Sandler increased their price objective on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday. Barclays increased their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Scotiabank increased their price objective on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. Leerink Partners reiterated an “outperform” rating and set a $20.00 price objective on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Finally, Guggenheim increased their price objective on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.62.

Travere Therapeutics Stock Down 4.1 %

Shares of NASDAQ TVTX opened at $17.72 on Monday. The stock has a market capitalization of $1.38 billion, a P/E ratio of -3.89 and a beta of 0.70. The company has a 50-day moving average price of $16.27 and a 200-day moving average price of $11.04. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $20.33. 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 (NASDAQ:TVTX) last released 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 company had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. During the same period last year, the firm earned ($1.17) earnings per share. The firm’s revenue was up 69.6% on a year-over-year basis. On average, equities research analysts forecast that Travere Therapeutics, Inc. will post -3.93 EPS for the current fiscal year.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $243,360.00. Following the sale, the chief executive officer now owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. The trade was a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gary A. Lyons sold 40,000 shares of Travere Therapeutics stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $14.73, for a total transaction of $589,200.00. Following the completion of the sale, the director now directly owns 51,000 shares in the company, valued at approximately $751,230. This represents a 43.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,707 shares of company stock valued at $1,504,312 over the last ninety days. Corporate insiders own 3.75% of the company’s stock.

Travere Therapeutics Company 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.