Affinity Asset Advisors LLC Trims Stake in Travere Therapeutics, Inc. $TVTX

Affinity Asset Advisors LLC cut its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 95.9% in the first quarter, Holdings Channel reports. The firm owned 300,000 shares of the company’s stock after selling 7,000,000 shares during the period. Affinity Asset Advisors LLC’s holdings in Travere Therapeutics were worth $8,913,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Palisades Investment Partners LLC acquired a new stake in Travere Therapeutics during the 4th quarter worth $5,264,000. Hennion & Walsh Asset Management Inc. increased its stake in Travere Therapeutics by 169.6% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 99,229 shares of the company’s stock valued at $3,792,000 after purchasing an additional 62,419 shares during the period. Assenagon Asset Management S.A. increased its stake in Travere Therapeutics by 347.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 417,742 shares of the company’s stock valued at $15,962,000 after purchasing an additional 324,387 shares during the period. Stephens Investment Management Group LLC raised its holdings in shares of Travere Therapeutics by 7.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,721,623 shares of the company’s stock valued at $65,783,000 after buying an additional 121,955 shares during the last quarter. Finally, Profund Advisors LLC raised its holdings in shares of Travere Therapeutics by 209.3% in the fourth quarter. Profund Advisors LLC now owns 62,604 shares of the company’s stock valued at $2,392,000 after buying an additional 42,366 shares during the last quarter.

Travere Therapeutics Trading Up 1.2%

Shares of TVTX stock opened at $57.36 on Friday. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of -249.38 and a beta of 1.10. The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16. The firm has a 50-day moving average price of $52.29 and a 200 day moving average price of $39.53. Travere Therapeutics, Inc. has a twelve month low of $15.03 and a twelve month high of $60.10.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.29. The company had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $136.23 million. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The firm’s revenue for the quarter was up 55.6% compared to the same quarter last year. During the same period last year, the company earned ($0.47) EPS. Research analysts forecast that Travere Therapeutics, Inc. will post -0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

TVTX has been the topic of a number of research reports. Wall Street Zen lowered Travere Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Piper Sandler raised Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price objective for the company in a research note on Tuesday, April 14th. Wedbush increased their price objective on Travere Therapeutics from $55.00 to $61.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Citigroup boosted their target price on Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a report on Monday, June 15th. Finally, Guggenheim upped their price target on Travere Therapeutics from $56.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.08.

Insider Activity

In other Travere Therapeutics news, Director Timothy Coughlin sold 10,000 shares of Travere Therapeutics stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $50.07, for a total value of $500,700.00. Following the completion of the sale, the director directly owned 56,250 shares of the company’s stock, valued at approximately $2,816,437.50. The trade was a 15.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William E. Rote sold 2,763 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $43.95, for a total value of $121,433.85. Following the transaction, the insider directly owned 115,474 shares in the company, valued at approximately $5,075,082.30. This represents a 2.34% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 113,413 shares of company stock valued at $5,161,607 in the last 90 days. Insiders own 4.44% of the company’s stock.

Travere Therapeutics Company Profile

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.