Knott David M Jr Has $3.97 Million Stock Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Knott David M Jr cut its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 11.7% in the fourth quarter, Holdings Channel reports. The firm owned 228,000 shares of the company’s stock after selling 30,231 shares during the quarter. Travere Therapeutics accounts for approximately 1.4% of Knott David M Jr’s holdings, making the stock its 11th biggest holding. Knott David M Jr’s holdings in Travere Therapeutics were worth $3,972,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TVTX. Emerald Advisers LLC boosted its position in shares of Travere Therapeutics by 8.4% during the fourth quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company’s stock worth $37,030,000 after purchasing an additional 165,085 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Travere Therapeutics by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 1,842,301 shares of the company’s stock worth $32,100,000 after acquiring an additional 111,256 shares in the last quarter. Parkman Healthcare Partners LLC grew its stake in Travere Therapeutics by 12.0% in the third quarter. Parkman Healthcare Partners LLC now owns 1,086,067 shares of the company’s stock valued at $15,194,000 after acquiring an additional 116,175 shares during the period. Prudential Financial Inc. increased its holdings in shares of Travere Therapeutics by 60.5% in the fourth quarter. Prudential Financial Inc. now owns 969,141 shares of the company’s stock worth $16,882,000 after acquiring an additional 365,200 shares in the last quarter. Finally, Jennison Associates LLC acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth about $14,222,000.

Insiders Place Their Bets

In related news, SVP William E. Rote sold 2,437 shares of Travere Therapeutics stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total transaction of $47,424.02. Following the completion of the sale, the senior vice president now owns 83,170 shares of the company’s stock, valued at approximately $1,618,488.20. The trade was a 2.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jula Inrig sold 2,066 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $19.10, for a total transaction of $39,460.60. Following the completion of the transaction, the insider now directly owns 59,883 shares in the company, valued at approximately $1,143,765.30. This represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,335 shares of company stock valued at $4,194,712 over the last 90 days. 3.75% of the stock is currently owned by insiders.

Travere Therapeutics Trading Down 8.9 %

NASDAQ TVTX opened at $17.92 on Tuesday. The company has a market cap of $1.59 billion, a PE ratio of -4.37 and a beta of 0.75. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $25.29. The stock has a 50 day moving average of $20.75 and a 200-day moving average of $18.57. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). The firm had revenue of $74.79 million during the quarter, compared to the consensus estimate of $72.38 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. On average, equities research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TVTX. Canaccord Genuity Group boosted their price objective on Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Evercore ISI upped their price target on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Citigroup raised their price objective on shares of Travere Therapeutics from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, February 24th. JPMorgan Chase & Co. increased their target price on Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, HC Wainwright lifted their price target on Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.62.

Travere Therapeutics Company 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.