Royce & Associates LP Lowers Holdings in Travere Therapeutics, Inc. $TVTX

Royce & Associates LP decreased its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 67.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,250 shares of the company’s stock after selling 257,747 shares during the period. Royce & Associates LP’s holdings in Travere Therapeutics were worth $2,946,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Arizona State Retirement System raised its holdings in Travere Therapeutics by 1.5% in the third quarter. Arizona State Retirement System now owns 24,964 shares of the company’s stock worth $597,000 after buying an additional 375 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Travere Therapeutics by 0.3% during the second quarter. Prudential Financial Inc. now owns 244,256 shares of the company’s stock valued at $3,615,000 after buying an additional 615 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Travere Therapeutics by 3.5% during the second quarter. Teacher Retirement System of Texas now owns 22,688 shares of the company’s stock valued at $336,000 after acquiring an additional 773 shares in the last quarter. Diversified Trust Co raised its holdings in Travere Therapeutics by 3.5% in the 3rd quarter. Diversified Trust Co now owns 23,695 shares of the company’s stock worth $566,000 after acquiring an additional 796 shares during the last quarter. Finally, Sio Capital Management LLC lifted its position in Travere Therapeutics by 1.0% in the 2nd quarter. Sio Capital Management LLC now owns 122,210 shares of the company’s stock valued at $1,809,000 after acquiring an additional 1,210 shares in the last quarter.

Travere Therapeutics Stock Down 3.1%

Travere Therapeutics stock opened at $27.31 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 fifty day moving average of $31.42 and a 200 day moving average of $29.58. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.70 and a current ratio of 2.74. The stock has a market cap of $2.52 billion, a PE ratio of -91.03 and a beta of 0.81.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Guggenheim reiterated a “buy” rating and set a $49.00 target price on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Piper Sandler increased their price objective on Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. HC Wainwright reiterated a “buy” rating and issued a $47.00 price objective on shares of Travere Therapeutics in a report on Friday, November 28th. Zacks Research cut shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. Ten equities 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.17.

Insider Activity

In related news, CEO Eric M. Dube sold 100,087 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $32.28, for a total transaction of $3,230,808.36. Following the completion of the sale, the chief executive officer directly owned 432,886 shares in the company, valued at approximately $13,973,560.08. The trade was a 18.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jula Inrig sold 1,779 shares of the company’s stock in a transaction that occurred on 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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 311,925 shares of company stock worth $10,618,555. Company insiders own 4.19% of the company’s stock.

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.