Zurcher Kantonalbank Zurich Cantonalbank Acquires 3,458 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTXFree Report) by 20.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,969 shares of the company’s stock after purchasing an additional 3,458 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Travere Therapeutics were worth $279,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Aigen Investment Management LP acquired a new position in shares of Travere Therapeutics in the 3rd quarter worth approximately $170,000. Assenagon Asset Management S.A. raised its stake in Travere Therapeutics by 912.5% during 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 in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Travere Therapeutics during the third quarter valued at $673,000. Acadian Asset Management LLC grew its holdings in shares of Travere Therapeutics by 202.6% in the 2nd quarter. Acadian Asset Management LLC now owns 144,901 shares of the company’s stock worth $1,190,000 after purchasing an additional 97,020 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Travere Therapeutics by 33.9% during the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after purchasing an additional 747,406 shares in the last quarter.

Travere Therapeutics Trading Down 1.0 %

Shares of NASDAQ TVTX opened at $19.22 on Monday. Travere Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $20.33. The firm has a market capitalization of $1.50 billion, a P/E ratio of -4.22 and a beta of 0.69. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The company’s 50 day simple moving average is $17.66 and its 200 day simple moving average is $12.32.

Travere Therapeutics (NASDAQ:TVTXGet Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.01. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The business had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. During the same period last year, the company earned ($1.17) EPS. The firm’s revenue was up 69.6% on a year-over-year basis. On average, analysts predict that Travere Therapeutics, Inc. will post -3.94 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on TVTX. Wedbush boosted their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Scotiabank increased their price target on Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. Barclays lifted their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Bank of America raised their target price on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Guggenheim upped their price target 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 research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.62.

Check Out Our Latest Analysis on Travere Therapeutics

Insiders Place Their Bets

In related news, Director Jeffrey A. Meckler sold 40,000 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $14.06, for a total value of $562,400.00. Following the sale, the director now directly owns 81,000 shares in the company, valued at $1,138,860. This trade represents a 33.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Sandra Calvin sold 12,090 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $18.30, for a total transaction of $221,247.00. Following the transaction, the chief accounting officer now owns 54,927 shares of the company’s stock, valued at approximately $1,005,164.10. This represents a 18.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,090 shares of company stock worth $1,372,847. Insiders own 3.75% of the company’s stock.

Travere Therapeutics Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Travere Therapeutics (NASDAQ:TVTX)

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