Rafferty Asset Management LLC Reduces Stake in Travere Therapeutics, Inc. $TVTX

Rafferty Asset Management LLC lessened its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 27.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 90,250 shares of the company’s stock after selling 33,604 shares during the period. Rafferty Asset Management LLC’s holdings in Travere Therapeutics were worth $2,157,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Corp purchased a new position in Travere Therapeutics in the third quarter valued at approximately $36,000. Raymond James Financial Inc. acquired a new position in shares of Travere Therapeutics in the 2nd quarter valued at $33,000. Headlands Technologies LLC purchased a new position in shares of Travere Therapeutics in the 2nd quarter valued at $73,000. Atria Investments Inc acquired a new stake in Travere Therapeutics during the 2nd quarter worth $154,000. Finally, Gallagher Fiduciary Advisors LLC acquired a new stake in Travere Therapeutics during the 2nd quarter worth $155,000.

Insiders Place Their Bets

In other Travere Therapeutics news, insider William E. Rote sold 12,446 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $32.87, for a total transaction of $409,100.02. Following the transaction, the insider owned 109,087 shares in the company, valued at approximately $3,585,689.69. The trade was a 10.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jula Inrig sold 1,779 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $32.21, for a total value of $57,301.59. Following the transaction, the insider directly owned 105,706 shares of the company’s stock, valued at approximately $3,404,790.26. This trade 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 quarter, insiders have sold 311,925 shares of company stock valued at $10,618,555. Corporate insiders own 4.19% of the company’s stock.

Travere Therapeutics Stock Performance

Shares of TVTX opened at $28.18 on Thursday. The stock has a market capitalization of $2.60 billion, a P/E ratio of -93.93 and a beta of 0.81. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.70 and a current ratio of 2.74. Travere Therapeutics, Inc. has a 1 year low of $12.91 and a 1 year high of $42.13. The company’s fifty day moving average is $31.69 and its two-hundred day moving average is $29.60.

Analyst Upgrades and Downgrades

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

About Travere Therapeutics

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.