Assenagon Asset Management S.A. Sells 1,009,720 Shares of Travere Therapeutics, Inc. $TVTX

Assenagon Asset Management S.A. decreased its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 91.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,355 shares of the company’s stock after selling 1,009,720 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Travere Therapeutics were worth $2,231,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in TVTX. Raymond James Financial Inc. acquired a new stake in Travere Therapeutics during the 2nd quarter worth approximately $33,000. Headlands Technologies LLC bought a new position in Travere Therapeutics during the 2nd quarter worth $73,000. Atria Investments Inc bought a new position in Travere Therapeutics during the 2nd quarter worth $154,000. Gallagher Fiduciary Advisors LLC acquired a new stake in shares of Travere Therapeutics during the second quarter worth $155,000. Finally, Corton Capital Inc. bought a new stake in shares of Travere Therapeutics in the second quarter valued at about $159,000.

Analyst Ratings Changes

A number of research firms recently commented on TVTX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, October 8th. Piper Sandler increased their target price on shares of Travere Therapeutics from $26.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. HC Wainwright reiterated a “buy” rating and issued a $47.00 price target on shares of Travere Therapeutics in a research report on Friday, November 28th. Jefferies Financial Group set a $35.00 price target on Travere Therapeutics in a research report on Wednesday, September 10th. Finally, Wall Street Zen upgraded Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 13th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.71.

Insider Buying and Selling

In other Travere Therapeutics news, CAO Sandra Calvin sold 67,115 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $36.00, for a total value of $2,416,140.00. Following the completion of the transaction, the chief accounting officer owned 48,545 shares of the company’s stock, valued at $1,747,620. This represents a 58.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric M. Dube sold 92,872 shares of Travere Therapeutics stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $30.38, for a total value of $2,821,451.36. Following the sale, the chief executive officer directly owned 419,173 shares in the company, valued at $12,734,475.74. The trade was a 18.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 233,368 shares of company stock worth $7,660,972 in the last ninety days. Insiders own 4.06% of the company’s stock.

Travere Therapeutics Trading Down 3.1%

Shares of Travere Therapeutics stock opened at $35.36 on Wednesday. The firm’s 50 day moving average is $33.35 and its 200 day moving average is $23.90. The firm has a market capitalization of $3.16 billion, a PE ratio of -33.36 and a beta of 0.89. Travere Therapeutics, Inc. has a 1 year low of $12.91 and a 1 year high of $37.50. The company has a current ratio of 2.75, a quick ratio of 2.71 and a debt-to-equity ratio of 4.23.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, October 30th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.59. The firm had revenue of $164.86 million for the quarter, compared to analyst estimates of $106.09 million. Travere Therapeutics had a negative net margin of 20.32% and a negative return on equity of 178.68%. The company’s quarterly revenue was up 162.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.70) earnings per share. Equities research analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

About Travere Therapeutics

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.