Rafferty Asset Management LLC Trims Stock Holdings in Travere Therapeutics, Inc. $TVTX

Rafferty Asset Management LLC trimmed its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 27.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,250 shares of the company’s stock after selling 33,604 shares during the quarter. Rafferty Asset Management LLC owned about 0.10% of Travere Therapeutics worth $2,157,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TVTX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Travere Therapeutics by 13.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,777 shares of the company’s stock valued at $1,029,000 after buying an additional 6,831 shares during the period. Teacher Retirement System of Texas raised its position in 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. Atria Investments Inc acquired a new position in Travere Therapeutics in the second quarter valued at approximately $154,000. Corton Capital Inc. purchased a new stake in Travere Therapeutics in the 2nd quarter worth approximately $159,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Travere Therapeutics by 38.4% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 685,511 shares of the company’s stock worth $10,146,000 after purchasing an additional 190,334 shares during the period.

Analysts Set New Price Targets

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

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $28.18 on Thursday. The company has a current ratio of 2.74, a quick ratio of 2.70 and a debt-to-equity ratio of 2.71. The company has a 50-day moving average price of $31.69 and a 200 day moving average price of $29.60. Travere Therapeutics, Inc. has a 12-month low of $12.91 and a 12-month high of $42.13. The stock has a market cap of $2.60 billion, a P/E ratio of -93.93 and a beta of 0.81.

Insiders Place Their Bets

In other Travere Therapeutics news, insider Jula Inrig sold 1,779 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $32.21, for a total transaction of $57,301.59. Following the transaction, the insider directly owned 105,706 shares in the company, valued at $3,404,790.26. This represents a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Elizabeth E. Reed sold 2,994 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $32.18, for a total value of $96,346.92. Following the sale, the insider owned 105,211 shares in the company, valued at approximately $3,385,689.98. This trade represents a 2.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 311,925 shares of company stock worth $10,618,555. Insiders own 4.19% of the company’s stock.

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.