AlphaQuest LLC Cuts Stock Holdings in Travere Therapeutics, Inc. $TVTX

AlphaQuest LLC reduced its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 84.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,464 shares of the company’s stock after selling 29,786 shares during the quarter. AlphaQuest LLC’s holdings in Travere Therapeutics were worth $131,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Arizona State Retirement System grew its position in Travere Therapeutics by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 24,964 shares of the company’s stock worth $597,000 after acquiring an additional 375 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Travere Therapeutics by 0.3% during the second quarter. Prudential Financial Inc. now owns 244,256 shares of the company’s stock valued at $3,615,000 after purchasing an additional 615 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of Travere Therapeutics by 3.5% in the second quarter. Teacher Retirement System of Texas now owns 22,688 shares of the company’s stock worth $336,000 after purchasing an additional 773 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Travere Therapeutics by 3.5% in the third quarter. Diversified Trust Co now owns 23,695 shares of the company’s stock worth $566,000 after purchasing an additional 796 shares during the last quarter. Finally, Sio Capital Management LLC grew its holdings in shares of Travere Therapeutics by 1.0% in the second quarter. Sio Capital Management LLC now owns 122,210 shares of the company’s stock worth $1,809,000 after purchasing an additional 1,210 shares during the last quarter.

Insider Buying and Selling at Travere Therapeutics

In related news, CFO Christopher R. Cline sold 1,745 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $32.19, for a total transaction of $56,171.55. Following the completion of the sale, the chief financial officer owned 111,226 shares of the company’s stock, valued at $3,580,364.94. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric M. Dube sold 100,087 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $32.28, for a total value of $3,230,808.36. Following the completion of the transaction, the chief executive officer directly owned 432,886 shares in the company, valued at $13,973,560.08. This trade represents a 18.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 331,925 shares of company stock worth $11,318,755 in the last 90 days. Insiders own 4.19% of the company’s stock.

Travere Therapeutics Trading Up 1.3%

NASDAQ TVTX opened at $30.60 on Friday. Travere Therapeutics, Inc. has a 12 month low of $12.91 and a 12 month high of $42.13. The company has a current ratio of 2.75, a quick ratio of 2.71 and a debt-to-equity ratio of 4.23. The stock’s fifty day moving average price is $33.40 and its 200-day moving average price is $28.30. The stock has a market cap of $2.74 billion, a P/E ratio of -28.87, a P/E/G ratio of 0.83 and a beta of 0.83.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 13th. Guggenheim restated a “buy” rating and issued a $49.00 price objective on shares of Travere Therapeutics in a research report on Wednesday, January 14th. Piper Sandler increased their target price on shares of Travere Therapeutics from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Zacks Research cut Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a research report on Friday, November 28th. Eleven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.62.

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.