Federated Hermes Inc. Sells 145,110 Shares of Travere Therapeutics, Inc. $TVTX

Federated Hermes Inc. cut its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 21.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 527,538 shares of the company’s stock after selling 145,110 shares during the period. Federated Hermes Inc. owned approximately 0.59% of Travere Therapeutics worth $7,808,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TVTX. Caitong International Asset Management Co. Ltd bought a new position in Travere Therapeutics during the first quarter worth about $62,000. Atria Investments Inc acquired a new stake in shares of Travere Therapeutics in the 2nd quarter valued at approximately $154,000. Corton Capital Inc. bought a new position in Travere Therapeutics during the 2nd quarter worth approximately $159,000. E Fund Management Co. Ltd. grew its holdings in Travere Therapeutics by 8.6% during the first quarter. E Fund Management Co. Ltd. now owns 13,553 shares of the company’s stock valued at $243,000 after purchasing an additional 1,072 shares during the period. Finally, Entropy Technologies LP grew its holdings in Travere Therapeutics by 18.6% during the first quarter. Entropy Technologies LP now owns 14,592 shares of the company’s stock valued at $261,000 after purchasing an additional 2,292 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TVTX shares. Stifel Nicolaus increased their target price on shares of Travere Therapeutics from $20.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, September 12th. Wall Street Zen downgraded Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 29th. TD Cowen lifted their target price on Travere Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Citigroup increased their price target on Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Jefferies Financial Group set a $35.00 price target on Travere Therapeutics in a research report on Wednesday, September 10th. Thirteen 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.71.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, Director Timothy Coughlin sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $35.03, for a total transaction of $630,540.00. Following the completion of the transaction, the director owned 55,500 shares of the company’s stock, valued at $1,944,165. This represents a 24.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric M. Dube sold 27,128 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $30.12, for a total transaction of $817,095.36. Following the transaction, the chief executive officer directly owned 419,173 shares of the company’s stock, valued at $12,625,490.76. This represents a 6.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 243,368 shares of company stock worth $7,910,972. Corporate insiders own 4.19% of the company’s stock.

Travere Therapeutics Price Performance

TVTX stock opened at $35.01 on Friday. The stock has a 50-day moving average price of $31.87 and a two-hundred day moving average price of $22.68. Travere Therapeutics, Inc. has a 1 year low of $12.91 and a 1 year high of $37.50. The stock has a market cap of $3.13 billion, a PE ratio of -33.03 and a beta of 0.89. The company has a current ratio of 2.75, a quick ratio of 2.71 and a debt-to-equity ratio of 4.23.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.59. The company had revenue of $164.86 million for the quarter, compared to analyst estimates of $106.09 million. Travere Therapeutics had a negative return on equity of 178.68% and a negative net margin of 20.32%.The company’s quarterly revenue was up 162.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.70) earnings per share. Equities analysts forecast that Travere Therapeutics, Inc. will post -1.4 EPS 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.