Sigma Planning Corp Purchases New Stake in Travere Therapeutics, Inc. $TVTX

Sigma Planning Corp purchased a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 35,090 shares of the company’s stock, valued at approximately $2,066,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jupiter Topco LLC purchased a new stake in Travere Therapeutics during the second quarter worth approximately $643,299,000. Bank of America Corp DE acquired a new stake in shares of Travere Therapeutics in the second quarter worth $259,527,000. Assenagon Asset Management S.A. increased its position in shares of Travere Therapeutics by 168.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,145,414 shares of the company’s stock worth $67,442,000 after acquiring an additional 718,109 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Travere Therapeutics by 50.0% in the 2nd quarter. Wellington Management Group LLP now owns 1,533,080 shares of the company’s stock valued at $87,094,000 after acquiring an additional 510,808 shares during the period. Finally, Legal & General Group Plc purchased a new position in shares of Travere Therapeutics in the 2nd quarter valued at $26,723,000.

Insider Buying and Selling at Travere Therapeutics

In other news, CEO Eric M. Dube sold 243,735 shares of the company’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $53.82, for a total value of $13,117,817.70. Following the completion of the transaction, the chief executive officer directly owned 432,886 shares in the company, valued at approximately $23,297,924.52. This represents a 36.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William E. Rote sold 112,850 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $63.33, for a total transaction of $7,146,790.50. Following the sale, the insider directly owned 98,197 shares of the company’s stock, valued at approximately $6,218,816.01. The trade was a 53.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 1,294,029 shares of company stock valued at $79,454,261. 4.44% of the stock is owned by company insiders.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $50.88 on Wednesday. Travere Therapeutics, Inc. has a one year low of $22.59 and a one year high of $68.73. The stock’s 50 day moving average price is $59.91 and its 200 day moving average price is $46.22.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.03. The firm had revenue of $169.58 million during the quarter, compared to analyst estimates of $157.27 million. During the same period last year, the business earned $0.13 EPS. The firm’s revenue was up 48.2% compared to the same quarter last year. As a group, research analysts predict that Travere Therapeutics, Inc. will post -0.92 earnings per share for the current year.

Analysts Set New Price Targets

TVTX has been the topic of several recent research reports. Canaccord Genuity Group lifted their target price on shares of Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Friday, September 18th. Piper Sandler reiterated an “overweight” rating on shares of Travere Therapeutics in a report on Monday, August 17th. Evercore set a $78.00 price target on Travere Therapeutics in a report on Monday, August 10th. Finally, Citigroup raised their price objective on Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $69.50.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare diseases, with an emphasis on serious kidney conditions. The company’s work centers on addressing diseases with limited treatment options and improving outcomes for patients with progressive renal disorders.

Travere’s lead commercial product is FILSPARI (sparsentan), an oral treatment for adults with primary immunoglobulin A nephropathy (IgA nephropathy) who are at risk of disease progression.