Royce & Associates LP Reduces Stock Position 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 its most recent disclosure with the Securities and Exchange Commission. The firm owned 123,250 shares of the company’s stock after selling 257,747 shares during the quarter. Royce & Associates LP owned approximately 0.14% of Travere Therapeutics worth $2,946,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Arizona State Retirement System grew its stake in shares of 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 purchasing an additional 375 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Travere Therapeutics by 0.3% in the 2nd quarter. Prudential Financial Inc. now owns 244,256 shares of the company’s stock worth $3,615,000 after buying an additional 615 shares during the period. Teacher Retirement System of Texas lifted its holdings in Travere Therapeutics by 3.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 22,688 shares of the company’s stock worth $336,000 after buying an additional 773 shares during the period. Diversified Trust Co grew its position in shares of 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 buying an additional 796 shares during the last quarter. Finally, Sio Capital Management LLC increased its stake in shares of Travere Therapeutics by 1.0% during the second quarter. Sio Capital Management LLC now owns 122,210 shares of the company’s stock valued at $1,809,000 after buying an additional 1,210 shares during the period.

Insiders Place Their Bets

In other Travere Therapeutics news, insider Peter Heerma sold 7,310 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $32.12, for a total transaction of $234,797.20. Following the completion of the transaction, the insider owned 131,823 shares of the company’s stock, valued at approximately $4,234,154.76. This trade represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher R. Cline sold 1,745 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $32.19, for a total value of $56,171.55. Following the completion of the sale, the chief financial officer directly owned 111,226 shares in the company, valued at approximately $3,580,364.94. This represents a 1.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 311,925 shares of company stock valued at $10,618,555. Insiders own 4.19% of the company’s stock.

Travere Therapeutics Stock Down 3.1%

NASDAQ:TVTX opened at $27.31 on Friday. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.74 and a quick ratio of 2.70. The firm’s 50-day moving average price is $31.42 and its 200-day moving average price is $29.58. The company has a market capitalization of $2.52 billion, a PE ratio of -91.03 and a beta of 0.81. Travere Therapeutics, Inc. has a 1-year low of $12.91 and a 1-year high of $42.13.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TVTX shares. Wall Street Zen lowered Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. HC Wainwright restated a “buy” rating and issued a $47.00 price objective on shares of Travere Therapeutics in a report on Friday, November 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, January 21st. Piper Sandler lifted their target price on shares of Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Finally, Guggenheim reissued a “buy” rating and issued a $49.00 price target on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.17.

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.