Schroder Investment Management Group Sells 260,199 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Schroder Investment Management Group trimmed its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 38.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 417,253 shares of the company’s stock after selling 260,199 shares during the period. Schroder Investment Management Group owned about 0.53% of Travere Therapeutics worth $7,227,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its holdings in Travere Therapeutics by 61.6% in the third quarter. The Manufacturers Life Insurance Company now owns 47,045 shares of the company’s stock valued at $658,000 after acquiring an additional 17,931 shares during the last quarter. FMR LLC grew its position in shares of Travere Therapeutics by 27.5% during the 3rd quarter. FMR LLC now owns 147,416 shares of the company’s stock worth $2,062,000 after buying an additional 31,772 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Travere Therapeutics by 20.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,969 shares of the company’s stock worth $279,000 after buying an additional 3,458 shares during the last quarter. Quarry LP acquired a new position in Travere Therapeutics in the third quarter valued at approximately $105,000. Finally, Two Sigma Advisers LP boosted its stake in Travere Therapeutics by 30.2% in the third quarter. Two Sigma Advisers LP now owns 720,400 shares of the company’s stock valued at $10,078,000 after acquiring an additional 167,100 shares during the last quarter.

Insider Activity

In other news, SVP William E. Rote sold 2,437 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sandra Calvin sold 54,244 shares of Travere Therapeutics stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total value of $1,356,100.00. Following the completion of the sale, the chief accounting officer now directly owns 54,410 shares in the company, valued at approximately $1,360,250. This represents a 49.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,269 shares of company stock worth $4,155,251 over the last ninety days. Insiders own 3.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Evercore ISI increased their price target on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. boosted their target price on Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Travere Therapeutics in a research report on Thursday. HC Wainwright boosted their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Finally, Bank of America increased their target price on shares of Travere Therapeutics from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.46.

Travere Therapeutics Stock Performance

TVTX opened at $14.99 on Friday. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -3.66 and a beta of 0.84. The business’s 50-day moving average price is $20.48 and its two-hundred day moving average price is $18.58. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $25.29.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The firm had revenue of $74.79 million during the quarter, compared to analyst estimates of $72.38 million. Equities analysts expect that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Travere Therapeutics 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.