Vanguard Group Inc. Reduces Stock Position in Travere Therapeutics, Inc. $TVTX

Vanguard Group Inc. lessened its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 25.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,014,020 shares of the company’s stock after selling 1,728,145 shares during the quarter. Vanguard Group Inc. owned approximately 5.65% of Travere Therapeutics worth $89,851,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. XTX Topco Ltd grew its holdings in shares of Travere Therapeutics by 79.2% during the first quarter. XTX Topco Ltd now owns 52,202 shares of the company’s stock worth $935,000 after purchasing an additional 23,069 shares during the last quarter. Federated Hermes Inc. grew its stake in Travere Therapeutics by 0.6% during the 1st quarter. Federated Hermes Inc. now owns 672,648 shares of the company’s stock worth $12,054,000 after buying an additional 4,333 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in Travere Therapeutics during the 1st quarter worth approximately $4,564,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Travere Therapeutics by 15.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,956 shares of the company’s stock worth $411,000 after buying an additional 2,987 shares during the last quarter. Finally, Legato Capital Management LLC purchased a new position in Travere Therapeutics during the 1st quarter worth approximately $587,000.

Travere Therapeutics Stock Performance

NASDAQ TVTX opened at $17.92 on Friday. The company has a quick ratio of 1.98, a current ratio of 2.00 and a debt-to-equity ratio of 9.50. The firm has a market cap of $1.60 billion, a P/E ratio of -8.78 and a beta of 0.74. Travere Therapeutics, Inc. has a 52-week low of $8.50 and a 52-week high of $25.29. The business’s 50-day moving average price is $16.05 and its 200 day moving average price is $17.62.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.14. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The firm had revenue of $94.84 million during the quarter, compared to the consensus estimate of $100.18 million. During the same quarter last year, the firm earned ($0.65) earnings per share. The firm’s revenue was up 111.5% compared to the same quarter last year. On average, equities research analysts expect that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TVTX has been the topic of a number of research reports. Citigroup restated a “buy” rating on shares of Travere Therapeutics in a research note on Sunday, August 10th. Stifel Nicolaus raised their price target on Travere Therapeutics from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Friday, May 2nd. Scotiabank restated an “outperform” rating on shares of Travere Therapeutics in a research note on Thursday, August 7th. Wall Street Zen upgraded Travere Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Finally, Wedbush raised their price target on Travere Therapeutics from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $32.21.

Travere Therapeutics 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.