Aberdeen Group plc Trims Holdings in Travere Therapeutics, Inc. $TVTX

Aberdeen Group plc trimmed its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 46.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 518,357 shares of the company’s stock after selling 449,028 shares during the quarter. Aberdeen Group plc owned about 0.58% of Travere Therapeutics worth $19,806,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of TVTX. Stephens Investment Management Group LLC purchased a new stake in shares of Travere Therapeutics in the third quarter valued at approximately $38,232,000. Wellington Management Group LLP boosted its stake in Travere Therapeutics by 3,331.9% during the third quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock worth $28,715,000 after buying an additional 1,166,460 shares during the last quarter. Frazier Life Sciences Management L.P. acquired a new position in Travere Therapeutics during the second quarter worth $14,831,000. Perceptive Advisors LLC acquired a new position in Travere Therapeutics during the second quarter worth $12,347,000. Finally, Marshall Wace LLP acquired a new position in Travere Therapeutics during the second quarter worth $10,992,000.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TVTX shares. Piper Sandler boosted their price objective on Travere Therapeutics from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. JPMorgan Chase & Co. lowered their price objective on Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. Wall Street Zen downgraded Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Guggenheim restated a “buy” rating and issued a $49.00 target price on shares of Travere Therapeutics in a research report on Wednesday, January 14th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, January 21st. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Travere Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $39.00.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, CFO Christopher R. Cline sold 1,745 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $32.19, for a total transaction of $56,171.55. Following the completion of the sale, the chief financial officer directly owned 111,226 shares of the company’s stock, valued at approximately $3,580,364.94. This trade represents a 1.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Elizabeth E. Reed sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the insider directly owned 105,211 shares of the company’s stock, valued at $3,156,330. The trade was a 8.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 302,067 shares of company stock worth $9,425,570. Insiders own 4.19% of the company’s stock.

Travere Therapeutics Stock Up 4.6%

Shares of NASDAQ TVTX opened at $31.83 on Tuesday. The stock has a market cap of $2.94 billion, a PE ratio of -106.10 and a beta of 0.86. The company has a quick ratio of 2.70, a current ratio of 2.74 and a debt-to-equity ratio of 2.71. Travere Therapeutics, Inc. has a 52-week low of $12.91 and a 52-week high of $42.13. The business has a 50-day moving average price of $29.24 and a 200 day moving average price of $30.96.

Travere Therapeutics Company 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.