Concurrent Investment Advisors LLC Makes New $438,000 Investment in Travere Therapeutics, Inc. $TVTX

Concurrent Investment Advisors LLC purchased a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the fourth quarter, Holdings Channel.com reports. The firm purchased 11,467 shares of the company’s stock, valued at approximately $438,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TVTX. Arizona State Retirement System raised its stake in Travere Therapeutics by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 24,964 shares of the company’s stock worth $597,000 after acquiring an additional 375 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Travere Therapeutics by 26.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,348 shares of the company’s stock worth $166,000 after acquiring an additional 902 shares during the period. Diversified Trust Co. grew its stake in Travere Therapeutics by 5.7% during the 4th quarter. Diversified Trust Co. now owns 25,044 shares of the company’s stock valued at $957,000 after purchasing an additional 1,349 shares during the last quarter. CWM LLC increased its holdings in shares of Travere Therapeutics by 11.9% in the fourth quarter. CWM LLC now owns 12,819 shares of the company’s stock valued at $490,000 after purchasing an additional 1,360 shares during the period. Finally, First Horizon Corp acquired a new position in shares of Travere Therapeutics in the third quarter valued at about $36,000.

Insider Activity

In other Travere Therapeutics news, CFO Christopher R. Cline sold 1,014 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $42.61, for a total value of $43,206.54. Following the sale, the chief financial officer owned 116,899 shares in the company, valued at approximately $4,981,066.39. This represents a 0.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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. Also, insider Elizabeth E. Reed sold 6,785 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $41.83, for a total transaction of $283,816.55. Following the sale, the insider directly owned 105,211 shares in the company, valued at $4,400,976.13. The trade was a 6.06% 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 sold 317,370 shares of company stock valued at $12,100,486 over the last 90 days. Company insiders own 4.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on TVTX. Canaccord Genuity Group lifted their target price on Travere Therapeutics from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Piper Sandler upgraded 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. Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, January 21st. Citigroup lifted their price objective on shares of Travere Therapeutics from $48.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Travere Therapeutics in a report on Tuesday, April 14th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.67.

Travere Therapeutics Stock Performance

NASDAQ TVTX opened at $44.91 on Tuesday. The firm has a market capitalization of $4.15 billion, a P/E ratio of -149.70 and a beta of 1.13. The stock has a 50-day simple moving average of $32.02 and a two-hundred day simple moving average of $32.59. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.70 and a current ratio of 2.74. Travere Therapeutics, Inc. has a fifty-two week low of $13.88 and a fifty-two week high of $45.43.

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.