Handelsbanken Fonder AB Buys New Shares in Travere Therapeutics, Inc. $TVTX

Handelsbanken Fonder AB bought a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 37,000 shares of the company’s stock, valued at approximately $2,102,000.

A number of other large investors have also bought and sold shares of TVTX. GAMMA Investing LLC raised its holdings in shares of Travere Therapeutics by 53.4% during the second quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after purchasing an additional 211 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Travere Therapeutics by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock valued at $45,000 after buying an additional 487 shares during the period. Comerica Bank increased its position in Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after buying an additional 492 shares in the last quarter. ProShare Advisors LLC increased its position 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 buying an additional 756 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position 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 buying an additional 902 shares in the last quarter.

Insider Transactions at Travere Therapeutics

In related news, Director Roy D. Baynes sold 4,500 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.00, for a total transaction of $225,000.00. Following the transaction, the director directly owned 41,500 shares in the company, valued at approximately $2,075,000. The trade was a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $50.07, for a total transaction of $500,700.00. Following the transaction, the director owned 56,250 shares in the company, valued at approximately $2,816,437.50. This trade represents a 15.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.44% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on TVTX shares. HC Wainwright increased their price target on Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Wedbush upped their target price on Travere Therapeutics from $61.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Citigroup lifted their price target on shares of Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. TD Cowen upped their price objective on shares of Travere Therapeutics from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Wells Fargo & Company raised their price objective on shares of Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.67.

Travere Therapeutics Price Performance

TVTX opened at $62.14 on Monday. Travere Therapeutics, Inc. has a 1 year low of $17.05 and a 1 year high of $66.24. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.99. The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of -135.08 and a beta of 1.12. The firm’s fifty day moving average price is $56.51 and its two-hundred day moving average price is $42.51.

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.