Travere Therapeutics, Inc. $TVTX Shares Purchased by Legal & General Group Plc

Legal & General Group Plc grew its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 23.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 510,428 shares of the company’s stock after purchasing an additional 97,496 shares during the quarter. Legal & General Group Plc’s holdings in Travere Therapeutics were worth $7,554,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hussman Strategic Advisors Inc. bought a new stake in Travere Therapeutics during the 2nd quarter valued at $2,486,000. Y Intercept Hong Kong Ltd grew its stake in shares of Travere Therapeutics by 343.7% in the second quarter. Y Intercept Hong Kong Ltd now owns 68,000 shares of the company’s stock worth $1,006,000 after purchasing an additional 52,675 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new position in shares of Travere Therapeutics during the first quarter valued at $304,000. Assenagon Asset Management S.A. raised its stake in shares of Travere Therapeutics by 166.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,103,075 shares of the company’s stock valued at $16,326,000 after purchasing an additional 689,561 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Travere Therapeutics by 7.2% during the first quarter. Northern Trust Corp now owns 808,687 shares of the company’s stock valued at $14,492,000 after purchasing an additional 54,292 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TVTX. Jefferies Financial Group set a $35.00 price objective on shares of Travere Therapeutics in a report on Wednesday, September 10th. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, October 8th. TD Cowen upped their price target on shares of Travere Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Wall Street Zen cut shares of Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, HC Wainwright reissued a “buy” rating and set a $47.00 target price on shares of Travere Therapeutics in a report on Friday, November 28th. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.71.

Insider Buying and Selling

In other news, CEO Eric M. Dube sold 92,872 shares of the stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $30.38, for a total transaction of $2,821,451.36. Following the completion of the sale, the chief executive officer owned 419,173 shares in the company, valued at approximately $12,734,475.74. This represents a 18.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy Coughlin sold 18,000 shares of Travere Therapeutics stock in a transaction on Friday, October 31st. The stock was sold at an average price of $35.03, for a total value of $630,540.00. Following the completion of the transaction, the director owned 55,500 shares in the company, valued at $1,944,165. The trade was a 24.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 223,487 shares of company stock valued at $7,213,117 in the last three months. Insiders own 4.19% of the company’s stock.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $33.99 on Wednesday. The company has a 50-day moving average of $30.43 and a 200-day moving average of $21.87. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -16.66 and a beta of 0.90. The company has a current ratio of 2.00, a quick ratio of 1.98 and a debt-to-equity ratio of 9.50. Travere Therapeutics, Inc. has a twelve month low of $12.91 and a twelve month high of $37.50.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, October 30th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.59. The business had revenue of $164.86 million for the quarter, compared to the consensus estimate of $106.09 million. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The business’s revenue for the quarter was up 162.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.70) EPS. Analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

About Travere Therapeutics

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.