HighVista Strategies LLC Sells 72,183 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

HighVista Strategies LLC reduced its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 32.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 147,233 shares of the company’s stock after selling 72,183 shares during the period. HighVista Strategies LLC owned about 0.19% of Travere Therapeutics worth $2,060,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of TVTX. Bellevue Group AG purchased a new stake in Travere Therapeutics in the third quarter worth about $434,000. PDT Partners LLC increased its stake in shares of Travere Therapeutics by 10.7% in the third quarter. PDT Partners LLC now owns 264,273 shares of the company’s stock worth $3,697,000 after purchasing an additional 25,490 shares in the last quarter. Walleye Capital LLC raised its position in shares of Travere Therapeutics by 70.1% during the 3rd quarter. Walleye Capital LLC now owns 488,453 shares of the company’s stock valued at $6,833,000 after purchasing an additional 201,282 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Travere Therapeutics by 20.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,969 shares of the company’s stock valued at $279,000 after purchasing an additional 3,458 shares during the period. Finally, Acuta Capital Partners LLC purchased a new position in shares of Travere Therapeutics during the 3rd quarter valued at $266,000.

Analysts Set New Price Targets

TVTX has been the topic of a number of recent analyst reports. Leerink Partners reissued an “outperform” rating and set a $20.00 price target on shares of Travere Therapeutics in a report on Tuesday, October 8th. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $9.00 to $27.00 in a research note on Monday, October 21st. Scotiabank upped their price target on Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. Canaccord Genuity Group reduced their price objective on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Wedbush upped their target price on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.62.

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX opened at $19.57 on Tuesday. The firm has a fifty day simple moving average of $17.18 and a two-hundred day simple moving average of $11.87. Travere Therapeutics, Inc. has a 52 week low of $5.12 and a 52 week high of $20.33. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.01. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The company had revenue of $62.90 million during the quarter, compared to analyst estimates of $60.87 million. During the same quarter last year, the business posted ($1.17) earnings per share. The firm’s revenue was up 69.6% on a year-over-year basis. As a group, sell-side analysts predict that Travere Therapeutics, Inc. will post -3.94 earnings per share for the current year.

Insider Activity

In related news, CAO Sandra Calvin sold 12,090 shares of Travere Therapeutics stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $18.30, for a total transaction of $221,247.00. Following the completion of the transaction, the chief accounting officer now directly owns 54,927 shares of the company’s stock, valued at approximately $1,005,164.10. The trade was a 18.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jula Inrig sold 2,191 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $25,240.32. Following the completion of the sale, the insider now directly owns 62,633 shares in the company, valued at $721,532.16. This trade represents a 3.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,797 shares of company stock valued at $1,725,559. 4.06% of the stock is currently owned by insiders.

Travere Therapeutics Company 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.