UBS Group AG Sells 173,554 Shares of Travere Therapeutics, Inc. $TVTX

UBS Group AG decreased its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 29.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 422,619 shares of the company’s stock after selling 173,554 shares during the quarter. UBS Group AG’s holdings in Travere Therapeutics were worth $16,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of TVTX. Raymond James Financial Inc. bought a new stake in Travere Therapeutics during the 2nd quarter valued at $33,000. First Horizon Corp bought a new stake in Travere Therapeutics during the 3rd quarter valued at $36,000. Headlands Technologies LLC bought a new stake in Travere Therapeutics during the 2nd quarter valued at $73,000. Gallagher Fiduciary Advisors LLC bought a new stake in Travere Therapeutics during the 2nd quarter valued at $155,000. Finally, Quadrant Capital Group LLC bought a new stake in Travere Therapeutics during the 3rd quarter valued at $158,000.

Wall Street Analyst Weigh In

TVTX has been the topic of several research analyst reports. Canaccord Genuity Group upped their price target on shares of Travere Therapeutics from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. JPMorgan Chase & Co. decreased their price target on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. Wedbush upped their price target on shares of Travere Therapeutics from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. TD Cowen upped their price target on shares of Travere Therapeutics from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Finally, Piper Sandler raised shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price target on the stock in a report on Tuesday, April 14th. Ten equities research 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. Based on data from MarketBeat, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $47.83.

Travere Therapeutics Trading Down 1.5%

Travere Therapeutics stock opened at $42.84 on Wednesday. The stock has a market cap of $3.98 billion, a P/E ratio of -186.25 and a beta of 1.13. Travere Therapeutics, Inc. has a fifty-two week low of $13.88 and a fifty-two week high of $48.61. The firm’s fifty day moving average price is $33.63 and its 200-day moving average price is $33.26. The company has a debt-to-equity ratio of 3.16, a quick ratio of 3.08 and a current ratio of 3.13.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.29. The firm had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $136.23 million. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The business’s quarterly revenue was up 55.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.47) earnings per share. Equities research analysts forecast that Travere Therapeutics, Inc. will post -0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Eric M. Dube sold 64,000 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $41.09, for a total value of $2,629,760.00. Following the transaction, the chief executive officer owned 432,886 shares of the company’s stock, valued at $17,787,285.74. This represents a 12.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth E. Reed sold 44,715 shares of the stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $41.21, for a total value of $1,842,705.15. Following the completion of the transaction, the insider directly owned 111,996 shares in the company, valued at approximately $4,615,355.16. This represents a 28.53% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold 400,015 shares of company stock valued at $15,895,428 over the last quarter. Insiders own 4.44% 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.