Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock Holdings Reduced by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 8.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,994 shares of the company’s stock after selling 4,482 shares during the quarter. Hsbc Holdings PLC owned approximately 0.06% of Travere Therapeutics worth $397,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its stake in Travere Therapeutics by 912.5% in the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock valued at $18,200,000 after purchasing an additional 1,995,419 shares in the last quarter. Parkman Healthcare Partners LLC grew its stake in Travere Therapeutics by 76.4% in the fourth quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock valued at $9,159,000 after purchasing an additional 441,318 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Travere Therapeutics by 79.2% in the first quarter. Russell Investments Group Ltd. now owns 184,623 shares of the company’s stock worth $1,423,000 after buying an additional 81,611 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Travere Therapeutics in the first quarter worth about $452,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Travere Therapeutics in the fourth quarter worth about $5,711,000.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, Director Jeffrey A. Meckler sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $14.06, for a total value of $562,400.00. Following the completion of the transaction, the director now owns 81,000 shares of the company’s stock, valued at approximately $1,138,860. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Eric M. Dube sold 21,125 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $243,360.00. Following the sale, the chief executive officer now directly owns 361,975 shares in the company, valued at approximately $4,169,952. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey A. Meckler sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $14.06, for a total value of $562,400.00. Following the completion of the sale, the director now owns 81,000 shares in the company, valued at $1,138,860. The disclosure for this sale can be found here. Insiders sold a total of 70,707 shares of company stock valued at $915,112 in the last quarter. Corporate insiders own 3.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wedbush boosted their price target on Travere Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Citigroup reduced their price target on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Barclays boosted their price target on Travere Therapeutics from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Tuesday. Guggenheim reduced their price target on Travere Therapeutics from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Finally, HC Wainwright cut their price objective on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Travere Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $17.09.

Travere Therapeutics Stock Performance

Travere Therapeutics stock opened at $13.99 on Wednesday. The business has a 50 day moving average price of $10.83 and a two-hundred day moving average price of $8.54. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $15.36.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The firm had revenue of $54.12 million during the quarter, compared to analyst estimates of $49.50 million. Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. Equities research analysts predict that Travere Therapeutics, Inc. will post -3.95 earnings per share for the current 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.