220,611 Shares in Travere Therapeutics, Inc. $TVTX Bought by Hsbc Holdings PLC

Hsbc Holdings PLC purchased a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 220,611 shares of the company’s stock, valued at approximately $12,595,000. Hsbc Holdings PLC owned approximately 0.23% of Travere Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Travere Therapeutics by 53.4% during the second quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock worth $34,000 after purchasing an additional 211 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of Travere Therapeutics in the second quarter worth approximately $47,000. State of Wyoming purchased a new position in shares of Travere Therapeutics in the fourth quarter worth about $37,000. Torren Management LLC acquired a new position in Travere Therapeutics during the fourth quarter worth about $38,000. Finally, Comerica Bank boosted its stake in Travere Therapeutics by 77.5% during the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after buying an additional 492 shares during the last quarter.

Insider Activity

In related news, Director Timothy Coughlin sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $50.07, for a total transaction of $500,700.00. Following the sale, the director directly owned 56,250 shares of the company’s stock, valued at $2,816,437.50. This represents a 15.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy D. Baynes sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $50.00, for a total transaction of $225,000.00. Following the sale, 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 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 currently owned by corporate insiders.

Travere Therapeutics Price Performance

TVTX stock opened at $65.67 on Friday. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58. The company has a market capitalization of $6.19 billion, a PE ratio of -142.76 and a beta of 1.12. Travere Therapeutics, Inc. has a 12-month low of $17.27 and a 12-month high of $67.85. The business’s fifty day moving average price is $59.34 and its 200 day moving average price is $44.84.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The company had revenue of $169.58 million during the quarter, compared to analysts’ expectations of $157.27 million. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.Travere Therapeutics’s revenue for the quarter was up 48.2% on a year-over-year basis. During the same period last year, the business posted $0.13 EPS. On average, sell-side analysts anticipate that Travere Therapeutics, Inc. will post -0.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Weiss Ratings lowered shares of Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Wall Street Zen lowered shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Evercore set a $78.00 price target on shares of Travere Therapeutics in a research note on Monday, August 10th. Wedbush raised their price target on shares of Travere Therapeutics from $61.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Finally, Wells Fargo & Company lifted their price target on shares of Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.67.

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.