AlphaQuest LLC Sells 29,786 Shares of Travere Therapeutics, Inc. $TVTX

AlphaQuest LLC trimmed its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 84.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,464 shares of the company’s stock after selling 29,786 shares during the period. AlphaQuest LLC’s holdings in Travere Therapeutics were worth $131,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of TVTX. Raymond James Financial Inc. purchased a new position in shares of Travere Therapeutics during the 2nd quarter valued at $33,000. First Horizon Corp bought a new stake in Travere Therapeutics in the 3rd quarter valued at about $36,000. Headlands Technologies LLC purchased a new stake in Travere Therapeutics during the second quarter valued at about $73,000. Atria Investments Inc purchased a new stake in Travere Therapeutics during the second quarter valued at about $154,000. Finally, Gallagher Fiduciary Advisors LLC bought a new position in Travere Therapeutics during the second quarter worth about $155,000.

Travere Therapeutics Trading Up 1.3%

NASDAQ TVTX opened at $30.60 on Friday. The company has a quick ratio of 2.71, a current ratio of 2.75 and a debt-to-equity ratio of 4.23. The stock’s 50-day simple moving average is $33.40 and its two-hundred day simple moving average is $28.30. Travere Therapeutics, Inc. has a twelve month low of $12.91 and a twelve month high of $42.13. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -28.87, a PEG ratio of 0.83 and a beta of 0.83.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TVTX shares. Zacks Research lowered shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Citigroup lifted their price objective on shares of Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Piper Sandler increased their target price on Travere Therapeutics from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Guggenheim reiterated a “buy” rating and issued a $49.00 price target on shares of Travere Therapeutics in a research report on Wednesday, January 14th. Finally, HC Wainwright reissued a “buy” rating and set a $47.00 price objective on shares of Travere Therapeutics in a report on Friday, November 28th. Eleven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Travere Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $38.62.

Insider Activity at Travere Therapeutics

In related news, insider Jula Inrig sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $42.00, for a total value of $630,000.00. Following the completion of the sale, the insider owned 88,787 shares in the company, valued at $3,729,054. The trade was a 14.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider William E. Rote sold 60,000 shares of the stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $40.10, for a total transaction of $2,406,000.00. Following the transaction, the insider owned 101,443 shares in the company, valued at $4,067,864.30. The trade was a 37.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 331,925 shares of company stock worth $11,318,755 in the last quarter. 4.19% of the stock is owned by company insiders.

Travere Therapeutics Profile

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.