Assenagon Asset Management S.A. Raises Stock Holdings in Travere Therapeutics, Inc. $TVTX

Assenagon Asset Management S.A. lifted its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 347.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 417,742 shares of the company’s stock after acquiring an additional 324,387 shares during the period. Assenagon Asset Management S.A.’s holdings in Travere Therapeutics were worth $15,962,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Travere Therapeutics by 13.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,777 shares of the company’s stock valued at $1,029,000 after purchasing an additional 6,831 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Travere Therapeutics by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,003,701 shares of the company’s stock worth $29,658,000 after purchasing an additional 27,040 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Travere Therapeutics by 9.2% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 19,764 shares of the company’s stock worth $293,000 after buying an additional 1,661 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Travere Therapeutics during the second quarter worth about $473,000. Finally, Creative Planning raised its position in shares of Travere Therapeutics by 26.0% in the second quarter. Creative Planning now owns 31,627 shares of the company’s stock valued at $468,000 after buying an additional 6,524 shares during the last quarter.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 100,087 shares of Travere Therapeutics stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $32.28, for a total transaction of $3,230,808.36. Following the transaction, the chief executive officer directly owned 432,886 shares of the company’s stock, valued at $13,973,560.08. The trade was a 18.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Elizabeth E. Reed sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $27.34, for a total transaction of $273,400.00. Following the sale, the insider owned 90,270 shares of the company’s stock, valued at approximately $2,467,981.80. This represents a 9.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 234,543 shares of company stock valued at $7,368,175 in the last three months. 4.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on TVTX shares. Wall Street Zen lowered shares of Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Piper Sandler boosted their price target on Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Guggenheim restated a “buy” rating and set a $49.00 price objective on shares of Travere Therapeutics in a report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. lowered their price objective on Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday. Eleven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.38.

Travere Therapeutics Stock Performance

Travere Therapeutics stock opened at $27.92 on Friday. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -93.06 and a beta of 0.81. Travere Therapeutics, Inc. has a 12 month low of $12.91 and a 12 month high of $42.13. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.74 and a quick ratio of 2.70. The stock’s 50-day moving average is $29.08 and its 200-day moving average is $30.56.

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.