396,853 Shares in Travere Therapeutics, Inc. $TVTX Bought by Hsbc Holdings PLC

Hsbc Holdings PLC bought a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 396,853 shares of the company’s stock, valued at approximately $11,788,000.

Several other institutional investors also recently bought and sold shares of TVTX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Travere Therapeutics by 13.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,777 shares of the company’s stock worth $1,029,000 after acquiring an additional 6,831 shares in the last quarter. Norges Bank acquired a new stake in Travere Therapeutics in the 2nd quarter worth approximately $1,051,000. First Trust Advisors LP bought a new stake in Travere Therapeutics during the second quarter worth approximately $3,538,000. Cresset Asset Management LLC grew its holdings in Travere Therapeutics by 26.5% during the second quarter. Cresset Asset Management LLC now owns 28,875 shares of the company’s stock valued at $427,000 after purchasing an additional 6,047 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in Travere Therapeutics by 106.2% during the second quarter. Qube Research & Technologies Ltd now owns 604,128 shares of the company’s stock valued at $8,941,000 after purchasing an additional 311,137 shares during the last quarter.

Insider Activity

In other news, insider Jula Inrig sold 20,000 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $45.00, for a total transaction of $900,000.00. Following the transaction, the insider owned 111,473 shares in the company, valued at approximately $5,016,285. The trade was a 15.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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, CEO Eric M. Dube sold 22,500 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $43.95, for a total transaction of $988,875.00. Following the transaction, the chief executive officer directly owned 432,886 shares of the company’s stock, valued at $19,025,339.70. This represents a 4.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 113,413 shares of company stock worth $5,161,607. Corporate insiders own 4.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TVTX. HC Wainwright boosted their price objective on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Citigroup lifted their target price on shares of Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, June 15th. TD Cowen boosted their target price on shares of Travere Therapeutics from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Guggenheim upped their price target on shares of Travere Therapeutics from $56.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, March 25th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $52.08.

Travere Therapeutics Stock Down 0.6%

Shares of TVTX stock opened at $56.26 on Thursday. Travere Therapeutics, Inc. has a 12 month low of $15.03 and a 12 month high of $60.10. The firm has a market cap of $5.23 billion, a PE ratio of -244.60 and a beta of 1.10. The stock has a 50 day moving average of $51.74 and a 200-day moving average of $39.28. The company has a quick ratio of 3.08, a current ratio of 3.13 and a debt-to-equity ratio of 3.16.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.29. The company had revenue of $127.20 million during the quarter, compared to analysts’ expectations of $136.23 million. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.Travere Therapeutics’s revenue for the quarter was up 55.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.47) earnings per share. On average, equities analysts predict that Travere Therapeutics, Inc. will post -0.25 EPS for the current year.

Travere Therapeutics 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.