Travere Therapeutics, Inc. (NASDAQ:TVTX) Holdings Lowered by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 8.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,175 shares of the company’s stock after selling 15,574 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Travere Therapeutics were worth $2,283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of TVTX. Price T Rowe Associates Inc. MD raised its holdings in shares of Travere Therapeutics by 10.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,009 shares of the company’s stock valued at $240,000 after acquiring an additional 2,948 shares during the period. SG Americas Securities LLC acquired a new stake in Travere Therapeutics during the 2nd quarter valued at $139,000. Bank of New York Mellon Corp lifted its holdings in shares of Travere Therapeutics by 18.3% in the second quarter. Bank of New York Mellon Corp now owns 264,816 shares of the company’s stock valued at $2,177,000 after purchasing an additional 41,048 shares in the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of Travere Therapeutics in the second quarter worth $747,000. Finally, Rhumbline Advisers grew its holdings in shares of Travere Therapeutics by 17.4% during the second quarter. Rhumbline Advisers now owns 125,660 shares of the company’s stock valued at $1,033,000 after buying an additional 18,645 shares in the last quarter.

Travere Therapeutics Stock Performance

Shares of TVTX opened at $17.32 on Friday. The company has a market capitalization of $1.35 billion, a PE ratio of -3.81 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. Travere Therapeutics, Inc. has a one year low of $5.12 and a one year high of $20.33. The company’s fifty day moving average price is $18.08 and its 200 day moving average price is $12.70.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.01. The firm had revenue of $62.90 million during the quarter, compared to the consensus estimate of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The firm’s revenue for the quarter was up 69.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.17) EPS. As a group, analysts expect that Travere Therapeutics, Inc. will post -3.94 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jeffrey A. Meckler sold 40,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $14.06, for a total transaction of $562,400.00. Following the transaction, the director now directly owns 81,000 shares in the company, valued at $1,138,860. The trade was a 33.06 % decrease in their ownership of the stock. 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 firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $18.30, for a total value of $221,247.00. Following the completion of the sale, the chief accounting officer now owns 54,927 shares of the company’s stock, valued at $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 valued at $1,372,847. 3.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TVTX. Wells Fargo & Company upgraded Travere Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. Barclays boosted their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Leerink Partners reiterated an “outperform” rating and issued a $20.00 target price on shares of Travere Therapeutics in a research report on Tuesday, October 8th. 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 report on Wednesday, October 9th. Finally, Canaccord Genuity Group cut their price objective on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a report on Monday, September 30th. 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, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.62.

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.