Travere Therapeutics, Inc. $TVTX Stock: Pictet Asset Management Holding SA Decreases Stake

Pictet Asset Management Holding SA decreased its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 24.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 259,066 shares of the company’s stock after selling 85,444 shares during the quarter. Pictet Asset Management Holding SA owned about 0.27% of Travere Therapeutics worth $15,527,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TVTX. GAMMA Investing LLC boosted its holdings in shares of Travere Therapeutics by 53.4% in the 2nd quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after buying an additional 211 shares during the last quarter. Corient Private Wealth LP grew its stake in shares of Travere Therapeutics by 1.4% in the second quarter. Corient Private Wealth LP now owns 48,125 shares of the company’s stock valued at $2,734,000 after buying an additional 648 shares in the last quarter. Allworth Financial LP acquired a new position in Travere Therapeutics during the second quarter worth $47,000. Swiss National Bank increased its holdings in Travere Therapeutics by 0.6% during the first quarter. Swiss National Bank now owns 168,100 shares of the company’s stock worth $4,994,000 after buying an additional 1,000 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in Travere Therapeutics during the first quarter worth $35,000.

Insider Activity

In other news, CFO Christopher R. Cline sold 50,508 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $62.34, for a total value of $3,148,668.72. Following the transaction, the chief financial officer directly owned 87,508 shares of the company’s stock, valued at $5,455,248.72. This represents a 36.60% 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, EVP Peter Heerma sold 172,717 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $63.43, for a total transaction of $10,955,439.31. Following the sale, the executive vice president owned 117,066 shares of the company’s stock, valued at approximately $7,425,496.38. This represents a 59.60% 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. Over the last 90 days, insiders sold 1,294,029 shares of company stock valued at $79,454,261. 4.44% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TVTX shares. TD Cowen increased their price target on shares of Travere Therapeutics from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. HC Wainwright restated a “buy” rating and set a $67.00 price objective on shares of Travere Therapeutics in a research note on Tuesday, September 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Friday, September 18th. Zacks Research cut shares of Travere Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 20th. Finally, Guggenheim dropped their target price on shares of Travere Therapeutics from $89.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, November 4th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.55.

Travere Therapeutics Stock Performance

TVTX opened at $51.56 on Friday. The company has a quick ratio of 2.95, a current ratio of 3.00 and a debt-to-equity ratio of 26.72. Travere Therapeutics, Inc. has a 12-month low of $22.59 and a 12-month high of $68.73. The business has a 50 day moving average of $56.25 and a 200-day moving average of $47.45. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of -39.97 and a beta of 1.11.

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

Travere Therapeutics Company 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.