Travere Therapeutics, Inc. $TVTX Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC cut its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 58.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 117,869 shares of the company’s stock after selling 164,631 shares during the quarter. GW&K Investment Management LLC owned 0.13% of Travere Therapeutics worth $2,817,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TVTX. Vanguard Group Inc. grew its stake in Travere Therapeutics by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,613,368 shares of the company’s stock valued at $158,059,000 after acquiring an additional 619,085 shares during the period. Adage Capital Partners GP L.L.C. raised its position in Travere Therapeutics by 27.4% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company’s stock worth $41,203,000 after acquiring an additional 599,102 shares during the period. Emerald Advisers LLC lifted its holdings in Travere Therapeutics by 2.6% during the third quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company’s stock valued at $51,308,000 after purchasing an additional 55,407 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Travere Therapeutics by 1.4% in the second quarter. Geode Capital Management LLC now owns 2,003,701 shares of the company’s stock valued at $29,658,000 after purchasing an additional 27,040 shares during the period. Finally, Stephens Investment Management Group LLC acquired a new stake in shares of Travere Therapeutics in the third quarter valued at about $38,232,000.

Travere Therapeutics Trading Down 0.3%

TVTX opened at $27.24 on Friday. Travere Therapeutics, Inc. has a one year low of $12.91 and a one year high of $42.13. The stock has a market capitalization of $2.51 billion, a PE ratio of -90.80 and a beta of 0.81. The business’s 50 day moving average price is $31.18 and its 200 day moving average price is $29.64. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.70 and a current ratio of 2.74.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Zacks Research downgraded shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. HC Wainwright reiterated a “buy” rating and issued a $47.00 target price on shares of Travere Therapeutics in a research report on Friday, November 28th. Guggenheim reissued a “buy” rating and issued a $49.00 price target on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, January 21st. Finally, Wall Street Zen cut shares of Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Travere Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $38.17.

Insider Buying and Selling

In other Travere Therapeutics news, CFO Christopher R. Cline sold 1,745 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $32.19, for a total value of $56,171.55. Following the transaction, the chief financial officer owned 111,226 shares of the company’s stock, valued at $3,580,364.94. This represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jula Inrig sold 1,779 shares of Travere Therapeutics stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $32.21, for a total transaction of $57,301.59. Following the sale, the insider owned 105,706 shares of the company’s stock, valued at approximately $3,404,790.26. This represents a 1.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 311,925 shares of company stock valued at $10,618,555. 4.19% of the stock is currently owned by company insiders.

Travere Therapeutics Profile

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.