Candriam S.C.A. Sells 98,561 Shares of Travere Therapeutics, Inc. $TVTX

Candriam S.C.A. trimmed its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 21.0% in the first quarter, Holdings Channel reports. The institutional investor owned 369,995 shares of the company’s stock after selling 98,561 shares during the period. Candriam S.C.A.’s holdings in Travere Therapeutics were worth $10,993,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC grew its position in Travere Therapeutics by 69.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock worth $45,000 after buying an additional 487 shares in the last quarter. Comerica Bank increased its stake in Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after acquiring an additional 492 shares during the period. ProShare Advisors LLC raised its holdings in Travere Therapeutics by 4.1% in the 4th quarter. ProShare Advisors LLC now owns 19,007 shares of the company’s stock valued at $726,000 after acquiring an additional 756 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Travere Therapeutics by 26.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,348 shares of the company’s stock valued at $166,000 after acquiring an additional 902 shares in the last quarter. Finally, State of Wyoming acquired a new position in Travere Therapeutics in the 4th quarter valued at $37,000.

Analyst Ratings Changes

Several analysts have recently issued reports on TVTX shares. JPMorgan Chase & Co. reduced their target price on Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. Piper Sandler raised Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price target for the company in a research note on Tuesday, April 14th. Wedbush upped their price objective on shares of Travere Therapeutics from $55.00 to $61.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Citigroup upped their price objective on shares of Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Finally, Canaccord Genuity Group increased their price objective on shares of Travere Therapeutics from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $52.08.

Travere Therapeutics Price Performance

Shares of TVTX opened at $56.59 on Monday. The firm has a 50 day simple moving average of $49.69 and a two-hundred day simple moving average of $38.29. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08. Travere Therapeutics, Inc. has a one year low of $15.03 and a one year high of $60.10. The company has a market cap of $5.26 billion, a P/E ratio of -246.03 and a beta of 1.10.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.29. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The firm had revenue of $127.20 million for the quarter, compared to the consensus estimate of $136.23 million. During the same quarter last year, the business posted ($0.47) EPS. The company’s revenue was up 55.6% compared to the same quarter last year. Research analysts forecast that Travere Therapeutics, Inc. will post -0.25 EPS for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, insider Elizabeth E. Reed sold 2,076 shares of Travere Therapeutics stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $43.95, for a total value of $91,240.20. Following the transaction, the insider owned 105,211 shares in the company, valued at $4,624,023.45. The trade was a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Roy D. Baynes sold 4,500 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $50.00, for a total value of $225,000.00. Following the transaction, the director directly owned 41,500 shares of the company’s stock, valued at approximately $2,075,000. The trade was a 9.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 324,450 shares of company stock worth $13,852,553 over the last quarter. 4.44% of the stock is currently owned by company insiders.

Travere Therapeutics Company 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.