GW&K Investment Management LLC Cuts Position in Travere Therapeutics, Inc. $TVTX

GW&K Investment Management LLC trimmed its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 58.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,869 shares of the company’s stock after selling 164,631 shares during the period. GW&K Investment Management LLC’s holdings in Travere Therapeutics were worth $2,817,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of TVTX. Vanguard Group Inc. boosted its holdings in Travere Therapeutics by 10.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,613,368 shares of the company’s stock valued at $158,059,000 after acquiring an additional 619,085 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in Travere Therapeutics by 27.4% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company’s stock worth $41,203,000 after purchasing an additional 599,102 shares during the period. Emerald Advisers LLC lifted its position in shares of Travere Therapeutics by 2.6% during the third quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company’s stock worth $51,308,000 after purchasing an additional 55,407 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Travere Therapeutics by 1.4% during the second quarter. Geode Capital Management LLC now owns 2,003,701 shares of the company’s stock worth $29,658,000 after purchasing an additional 27,040 shares in the last quarter. Finally, Stephens Investment Management Group LLC purchased a new position in shares of Travere Therapeutics in the third quarter valued at approximately $38,232,000.

Travere Therapeutics Price Performance

Shares of NASDAQ TVTX opened at $27.24 on Friday. The stock’s 50-day simple moving average is $31.18 and its 200-day simple moving average is $29.64. The firm has a market capitalization of $2.51 billion, a PE ratio of -90.80 and a beta of 0.81. Travere Therapeutics, Inc. has a fifty-two week low of $12.91 and a fifty-two week high of $42.13. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.70 and a current ratio of 2.74.

Insider Buying and Selling

In other Travere Therapeutics news, insider Elizabeth E. Reed sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $27.34, for a total transaction of $273,400.00. Following the sale, the insider owned 90,270 shares of the company’s stock, valued at approximately $2,467,981.80. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric M. Dube sold 100,087 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $32.28, for a total transaction of $3,230,808.36. Following the sale, the chief executive officer owned 432,886 shares of the company’s stock, valued at $13,973,560.08. This represents a 18.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 311,925 shares of company stock valued at $10,618,555 over the last three months. 4.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TVTX shares. Guggenheim restated a “buy” rating and issued a $49.00 price objective on shares of Travere Therapeutics in a report on Wednesday, January 14th. Piper Sandler raised their price target on shares of Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Zacks Research cut Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $47.00 target price on shares of Travere Therapeutics in a report on Friday, November 28th. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $38.17.

About Travere Therapeutics

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.