DekaBank Deutsche Girozentrale Buys New Stake in Travere Therapeutics, Inc. (NASDAQ:TVTX)

DekaBank Deutsche Girozentrale purchased a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 30,000 shares of the company’s stock, valued at approximately $280,000.

A number of other institutional investors have also modified their holdings of the stock. Envestnet Asset Management Inc. grew its holdings in Travere Therapeutics by 13.4% during the first quarter. Envestnet Asset Management Inc. now owns 10,362 shares of the company’s stock worth $267,000 after acquiring an additional 1,224 shares during the period. US Bancorp DE grew its stake in shares of Travere Therapeutics by 1,372.3% during the 1st quarter. US Bancorp DE now owns 1,487 shares of the company’s stock worth $38,000 after purchasing an additional 1,386 shares during the period. MetLife Investment Management LLC increased its holdings in shares of Travere Therapeutics by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 33,799 shares of the company’s stock valued at $871,000 after purchasing an additional 12,475 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Travere Therapeutics by 3.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,099,058 shares of the company’s stock valued at $28,321,000 after purchasing an additional 40,555 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Travere Therapeutics by 43.1% during the first quarter. Canada Pension Plan Investment Board now owns 731,000 shares of the company’s stock worth $18,838,000 after buying an additional 220,000 shares in the last quarter.

Travere Therapeutics Stock Down 2.7 %

NASDAQ TVTX opened at $6.15 on Wednesday. The business has a fifty day moving average price of $7.72 and a 200 day moving average price of $7.77. The company has a debt-to-equity ratio of 1.88, a quick ratio of 3.41 and a current ratio of 3.47. The company has a market cap of $468.08 million, a P/E ratio of -3.82 and a beta of 0.58. Travere Therapeutics, Inc. has a one year low of $5.25 and a one year high of $22.75.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, February 15th. The company reported ($1.16) EPS for the quarter, beating analysts’ consensus estimates of ($1.27) by $0.11. The business had revenue of $45.06 million during the quarter, compared to analysts’ expectations of $41.25 million. Travere Therapeutics had a negative net margin of 56.02% and a negative return on equity of 177.97%. Research analysts anticipate that Travere Therapeutics, Inc. will post -3.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Eric M. Dube sold 7,873 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $8.96, for a total value of $70,542.08. Following the completion of the sale, the chief executive officer now directly owns 234,722 shares in the company, valued at $2,103,109.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP William E. Rote sold 4,764 shares of Travere Therapeutics stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $8.71, for a total transaction of $41,494.44. Following the transaction, the senior vice president now owns 80,720 shares in the company, valued at approximately $703,071.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric M. Dube sold 7,873 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $8.96, for a total transaction of $70,542.08. Following the transaction, the chief executive officer now directly owns 234,722 shares in the company, valued at approximately $2,103,109.12. The disclosure for this sale can be found here. Insiders have sold 48,030 shares of company stock valued at $419,773 in the last ninety days. 4.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TVTX has been the topic of several analyst reports. Piper Sandler raised their price target on shares of Travere Therapeutics from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. HC Wainwright restated a “buy” rating and set a $17.00 target price on shares of Travere Therapeutics in a research report on Wednesday, March 13th. Wells Fargo & Company lifted their price target on Travere Therapeutics from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Friday, February 16th. Guggenheim reiterated a “neutral” rating on shares of Travere Therapeutics in a research report on Wednesday, March 27th. Finally, Wedbush reissued an “outperform” rating and issued a $13.00 price objective on shares of Travere Therapeutics in a report on Friday, February 16th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.85.

Travere Therapeutics Company Profile

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.