Tudor Investment Corp ET AL Cuts Stake in Travere Therapeutics, Inc. $TVTX

Tudor Investment Corp ET AL cut its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 52.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,747 shares of the company’s stock after selling 105,761 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.11% of Travere Therapeutics worth $2,288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TVTX. Arizona State Retirement System raised its holdings in shares of Travere Therapeutics by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 24,964 shares of the company’s stock valued at $597,000 after purchasing an additional 375 shares in 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 in the last quarter. Diversified Trust Co boosted its stake in shares of Travere Therapeutics by 3.5% during the third quarter. Diversified Trust Co now owns 23,695 shares of the company’s stock valued at $566,000 after purchasing an additional 796 shares in the last quarter. Sio Capital Management LLC increased its holdings in Travere Therapeutics by 1.0% during the second quarter. Sio Capital Management LLC now owns 122,210 shares of the company’s stock valued at $1,809,000 after buying an additional 1,210 shares during the period. Finally, First Horizon Corp purchased a new position in Travere Therapeutics during the third quarter valued at approximately $36,000.

Travere Therapeutics Stock Down 2.4%

NASDAQ:TVTX opened at $27.25 on Friday. The company has a market cap of $2.51 billion, a PE ratio of -90.83 and a beta of 0.81. Travere Therapeutics, Inc. has a twelve month low of $12.91 and a twelve month high of $42.13. The company has a current ratio of 2.74, a quick ratio of 2.70 and a debt-to-equity ratio of 2.71. The company’s 50 day moving average is $29.07 and its two-hundred day moving average is $30.66.

Analysts Set New Price Targets

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

Insider Buying and Selling at Travere Therapeutics

In related news, insider William E. Rote sold 12,446 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $32.87, for a total value of $409,100.02. Following the transaction, the insider directly owned 109,087 shares of the company’s stock, valued at $3,585,689.69. This represents a 10.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Elizabeth E. Reed sold 10,000 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $28.09, for a total value of $280,900.00. Following the completion of the transaction, the insider owned 105,211 shares of the company’s stock, valued at $2,955,376.99. This trade represents a 8.68% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 234,543 shares of company stock valued at $7,368,175. Company insiders own 4.19% of the company’s stock.

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.