Principal Financial Group Inc. Sells 8,317 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Principal Financial Group Inc. decreased its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 44.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,288 shares of the company’s stock after selling 8,317 shares during the period. Principal Financial Group Inc.’s holdings in Travere Therapeutics were worth $85,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. increased its position in shares of Travere Therapeutics by 5.6% during the fourth quarter. Russell Investments Group Ltd. now owns 103,012 shares of the company’s stock valued at $926,000 after acquiring an additional 5,499 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Travere Therapeutics during the 4th quarter valued at $137,000. Crestline Management LP increased its position in shares of Travere Therapeutics by 32.6% during the 4th quarter. Crestline Management LP now owns 81,423 shares of the company’s stock valued at $732,000 after purchasing an additional 20,002 shares during the last quarter. Finepoint Capital LP raised its stake in shares of Travere Therapeutics by 60.2% during the 4th quarter. Finepoint Capital LP now owns 1,435,321 shares of the company’s stock worth $12,904,000 after purchasing an additional 539,500 shares during the period. Finally, Rafferty Asset Management LLC boosted its holdings in shares of Travere Therapeutics by 18.6% in the 4th quarter. Rafferty Asset Management LLC now owns 429,161 shares of the company’s stock worth $3,858,000 after buying an additional 67,168 shares during the last quarter.

Insider Buying and Selling

In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the completion of the sale, the senior vice president now directly owns 84,455 shares in the company, valued at $972,921.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the completion of the sale, the senior vice president now directly owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jula Inrig sold 2,191 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $25,240.32. Following the completion of the transaction, the insider now owns 62,633 shares of the company’s stock, valued at $721,532.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,707 shares of company stock worth $352,712. Insiders own 3.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TVTX. Piper Sandler raised 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. Barclays raised their price target on shares of Travere Therapeutics from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Bank of America upped their price objective on Travere Therapeutics from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. raised their target price on Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Citigroup lifted their price objective on Travere Therapeutics from $14.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.58.

Travere Therapeutics Stock Performance

Travere Therapeutics stock opened at $14.27 on Tuesday. Travere Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $14.72. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96. The firm has a market capitalization of $1.09 billion, a PE ratio of -6.80 and a beta of 0.71. The firm’s 50 day simple moving average is $9.79 and its 200 day simple moving average is $8.04.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Thursday, August 1st. The company reported ($0.90) 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 business had revenue of $54.12 million for the quarter, compared to analysts’ expectations of $49.50 million. As a group, analysts expect that Travere Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

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.