Jennison Associates LLC Invests $14.22 Million in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Jennison Associates LLC purchased a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 816,399 shares of the company’s stock, valued at approximately $14,222,000. Jennison Associates LLC owned 1.05% of Travere Therapeutics as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new position in Travere Therapeutics in the fourth quarter valued at approximately $53,000. CWM LLC lifted its holdings in shares of Travere Therapeutics by 158.5% in the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after purchasing an additional 3,065 shares during the last quarter. Quarry LP acquired a new position in Travere Therapeutics during the 3rd quarter valued at approximately $105,000. Baader Bank Aktiengesellschaft bought a new position in Travere Therapeutics during the 4th quarter worth $192,000. Finally, Diversified Trust Co acquired a new stake in Travere Therapeutics in the third quarter worth $161,000.

Insider Buying and Selling at Travere Therapeutics

In related news, SVP William E. Rote sold 2,437 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $47,424.02. Following the completion of the transaction, the senior vice president now owns 83,170 shares in the company, valued at $1,618,488.20. This trade represents a 2.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Christopher R. Cline sold 5,192 shares of Travere Therapeutics stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $20.12, for a total value of $104,463.04. Following the completion of the transaction, the chief financial officer now directly owns 90,038 shares in the company, valued at $1,811,564.56. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 134,532 shares of company stock valued at $2,625,498. 4.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TVTX shares. Wedbush boosted their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Piper Sandler boosted their target price on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. HC Wainwright raised their price target on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Barclays boosted their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Guggenheim raised their target price on Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Travere Therapeutics Trading Up 0.5 %

Shares of Travere Therapeutics stock opened at $21.21 on Thursday. The business has a fifty day simple moving average of $18.74 and a 200-day simple moving average of $15.51. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -4.66 and a beta of 0.72. Travere Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $21.86. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

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.