State Street Corp Sells 773,981 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

State Street Corp lessened its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 22.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,736,696 shares of the company’s stock after selling 773,981 shares during the period. State Street Corp’s holdings in Travere Therapeutics were worth $38,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of TVTX. CWM LLC increased its stake in shares of Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after purchasing an additional 3,065 shares during the period. DRW Securities LLC acquired a new stake in Travere Therapeutics in the 2nd quarter valued at approximately $95,000. Quarry LP bought a new position in Travere Therapeutics in the 3rd quarter worth approximately $105,000. Forefront Analytics LLC boosted its position in shares of Travere Therapeutics by 10.2% in 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 period. Finally, Sei Investments Co. bought a new stake in shares of Travere Therapeutics in the second quarter valued at approximately $117,000.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $17.18 on Friday. The business has a 50 day simple moving average of $18.17 and a 200 day simple moving average of $13.01. 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 has a market capitalization of $1.34 billion, a PE ratio of -3.78 and a beta of 0.69. Travere Therapeutics, Inc. has a one year low of $5.12 and a one year high of $20.33.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $62.90 million during the quarter, compared to analysts’ expectations of $60.87 million. During the same period last year, the business earned ($1.17) earnings per share. The business’s revenue was up 69.6% on a year-over-year basis. On average, sell-side analysts forecast that Travere Therapeutics, Inc. will post -3.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays upped their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company raised shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $9.00 to $27.00 in a research report on Monday, October 21st. Canaccord Genuity Group decreased their target price on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. JPMorgan Chase & Co. upped their price target on Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Finally, Guggenheim lifted their price objective on Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.67.

Insider Activity at Travere Therapeutics

In other news, CAO Sandra Calvin sold 12,090 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $18.30, for a total transaction of $221,247.00. Following the sale, the chief accounting officer now owns 54,927 shares in the company, valued at approximately $1,005,164.10. This represents a 18.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey A. Meckler sold 40,000 shares of Travere Therapeutics stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $14.06, for a total value of $562,400.00. Following the completion of the transaction, the director now directly owns 81,000 shares of the company’s stock, valued at $1,138,860. This represents a 33.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,090 shares of company stock valued at $1,372,847 in the last ninety days. Insiders own 4.06% 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.