Assetmark Inc. Acquires New Position in Travere Therapeutics, Inc. $TVTX

Assetmark Inc. purchased a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 21,567 shares of the company’s stock, valued at approximately $824,000.

Several other large investors have also recently made changes to their positions in TVTX. Arizona State Retirement System grew its position in Travere Therapeutics by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 24,964 shares of the company’s stock worth $597,000 after acquiring an additional 375 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Travere Therapeutics by 3.5% in the third quarter. Diversified Trust Co now owns 23,695 shares of the company’s stock worth $566,000 after purchasing an additional 796 shares during the last quarter. Diversified Trust Co. increased its stake in shares of Travere Therapeutics by 5.7% in the fourth quarter. Diversified Trust Co. now owns 25,044 shares of the company’s stock worth $957,000 after buying an additional 1,349 shares during the period. First Horizon Corp bought a new stake in Travere Therapeutics during the 3rd quarter valued at $36,000. Finally, Raymond James Financial Inc. bought a new stake in Travere Therapeutics during the 2nd quarter valued at $33,000.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TVTX. Guggenheim upped their price objective on shares of Travere Therapeutics from $49.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Citigroup boosted their price target on Travere Therapeutics from $48.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Canaccord Genuity Group upped their price target on Travere Therapeutics from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Piper Sandler upgraded Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price objective for the company in a report on Tuesday, April 14th. Finally, JPMorgan Chase & Co. cut their price objective on Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Travere Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Insider Buying and Selling at Travere Therapeutics

In related news, insider Elizabeth E. Reed sold 44,715 shares of the business’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $41.21, for a total transaction of $1,842,705.15. Following the sale, the insider owned 111,996 shares of the company’s stock, valued at $4,615,355.16. The trade was a 28.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William E. Rote sold 12,446 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $32.87, for a total value of $409,100.02. Following the completion of the sale, the insider directly owned 109,087 shares in the company, valued at approximately $3,585,689.69. This represents a 10.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 504,069 shares of company stock valued at $17,819,272. Company insiders own 4.19% of the company’s stock.

Travere Therapeutics Price Performance

Shares of NASDAQ TVTX opened at $40.09 on Thursday. Travere Therapeutics, Inc. has a 1 year low of $13.88 and a 1 year high of $43.31. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.74 and a quick ratio of 2.70. The company’s 50-day moving average is $30.56 and its 200 day moving average is $31.91. The stock has a market capitalization of $3.70 billion, a P/E ratio of -133.63 and a beta of 0.86.

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.