Travere Therapeutics, Inc. $TVTX Shares Sold by Jennison Associates LLC

Jennison Associates LLC trimmed its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 9.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 771,522 shares of the company’s stock after selling 80,602 shares during the period. Jennison Associates LLC’s holdings in Travere Therapeutics were worth $11,419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of TVTX. Adage Capital Partners GP L.L.C. boosted its stake in Travere Therapeutics by 479.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,184,898 shares of the company’s stock valued at $39,153,000 after acquiring an additional 1,808,098 shares in the last quarter. Armistice Capital LLC boosted its stake in Travere Therapeutics by 20.6% in the first quarter. Armistice Capital LLC now owns 8,872,000 shares of the company’s stock valued at $158,986,000 after acquiring an additional 1,514,000 shares in the last quarter. Nuveen LLC acquired a new stake in Travere Therapeutics in the first quarter valued at approximately $21,569,000. Assenagon Asset Management S.A. boosted its stake in Travere Therapeutics by 166.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,103,075 shares of the company’s stock valued at $16,326,000 after acquiring an additional 689,561 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its stake in Travere Therapeutics by 24.8% in the first quarter. Driehaus Capital Management LLC now owns 2,767,693 shares of the company’s stock valued at $49,597,000 after acquiring an additional 549,718 shares in the last quarter.

Travere Therapeutics Trading Up 18.6%

NASDAQ:TVTX opened at $35.16 on Friday. Travere Therapeutics, Inc. has a 12 month low of $12.91 and a 12 month high of $35.34. The firm has a fifty day simple moving average of $24.50 and a 200-day simple moving average of $19.34. The company has a current ratio of 2.00, a quick ratio of 1.98 and a debt-to-equity ratio of 9.50. The company has a market capitalization of $3.13 billion, a P/E ratio of -17.24 and a beta of 0.83.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, October 30th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.59. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The firm had revenue of $113.15 million during the quarter, compared to analysts’ expectations of $106.09 million. During the same quarter last year, the company posted ($0.70) earnings per share. The firm’s revenue was up 162.1% compared to the same quarter last year. On average, equities research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Peter Heerma sold 2,662 shares of the firm’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $30.00, for a total transaction of $79,860.00. Following the completion of the transaction, the insider owned 124,662 shares of the company’s stock, valued at $3,739,860. This trade represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Elizabeth E. Reed sold 10,000 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $25.00, for a total transaction of $250,000.00. Following the transaction, the insider directly owned 89,878 shares of the company’s stock, valued at approximately $2,246,950. This trade represents a 10.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 133,235 shares of company stock valued at $3,979,015 over the last 90 days. Insiders own 4.19% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on TVTX shares. Citigroup raised their target price on shares of Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a research note on Friday. Wall Street Zen upgraded shares of Travere Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Jefferies Financial Group set a $35.00 price objective on shares of Travere Therapeutics in a research note on Wednesday, September 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus lifted their price objective on shares of Travere Therapeutics from $20.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.79.

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.