85,444 Travere Therapeutics, Inc. $TVTX Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 24.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 259,066 shares of the company’s stock after selling 85,444 shares during the period. Pictet Asset Management Holding SA’s holdings in Travere Therapeutics were worth $15,527,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Travere Therapeutics by 53.4% during the 2nd quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock worth $34,000 after purchasing an additional 211 shares during the last quarter. Corient Private Wealth LP boosted its stake in Travere Therapeutics by 1.4% in the 2nd quarter. Corient Private Wealth LP now owns 48,125 shares of the company’s stock valued at $2,734,000 after purchasing an additional 648 shares during the period. Allworth Financial LP acquired a new position in Travere Therapeutics in the 2nd quarter valued at $47,000. Swiss National Bank grew its holdings in Travere Therapeutics by 0.6% in the 1st quarter. Swiss National Bank now owns 168,100 shares of the company’s stock valued at $4,994,000 after buying an additional 1,000 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new position in Travere Therapeutics in the 1st quarter valued at $35,000.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TVTX. Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a report on Friday, September 18th. HC Wainwright reissued a “buy” rating and issued a $67.00 target price on shares of Travere Therapeutics in a research report on Tuesday, September 22nd. Guggenheim decreased their price target on shares of Travere Therapeutics from $89.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, November 4th. Piper Sandler reaffirmed an “overweight” rating on shares of Travere Therapeutics in a research report on Monday, August 17th. Finally, Wedbush reiterated an “outperform” rating and issued a $76.00 price objective on shares of Travere Therapeutics in a research note on Tuesday, September 22nd. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.55.

Travere Therapeutics Trading Down 0.9%

Shares of TVTX stock opened at $51.56 on Friday. The stock has a market cap of $4.95 billion, a P/E ratio of -39.97 and a beta of 1.11. Travere Therapeutics, Inc. has a 1 year low of $22.59 and a 1 year high of $68.73. The company has a current ratio of 3.00, a quick ratio of 2.95 and a debt-to-equity ratio of 26.72. The stock has a 50 day simple moving average of $56.25 and a 200 day simple moving average of $47.45.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Monday, November 2nd. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.49). The company had revenue of $224.56 million for the quarter, compared to the consensus estimate of $195.29 million. Travere Therapeutics had a negative return on equity of 185.69% and a negative net margin of 18.66%. Travere Therapeutics’s revenue was up 36.2% on a year-over-year basis. During the same quarter last year, the business earned $0.28 EPS. On average, research analysts predict that Travere Therapeutics, Inc. will post -0.90 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Jula Inrig sold 44,674 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $62.34, for a total value of $2,784,977.16. Following the transaction, the executive vice president owned 100,491 shares in the company, valued at approximately $6,264,608.94. This trade represents a 30.77% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth E. Reed sold 37,500 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $62.34, for a total value of $2,337,750.00. Following the completion of the transaction, the insider directly owned 105,389 shares of the company’s stock, valued at approximately $6,569,950.26. This trade represents a 26.24% 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. In the last quarter, insiders sold 1,294,029 shares of company stock worth $79,454,261. 4.44% of the stock is owned by insiders.

Travere Therapeutics Profile

Travere Therapeutics, Inc. is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, with an emphasis on kidney and metabolic disorders. The company was formerly known as Retrophin and adopted the Travere Therapeutics name in 2020. Its commercial products include FILSPARI (sparsentan), an oral treatment approved in the United States for adults with primary IgA nephropathy at risk of disease progression, and THIOLA EC (tiopronin), used to help prevent cystine kidney stones in people with cystinuria.