Hennion & Walsh Asset Management Inc. Purchases 62,419 Shares of Travere Therapeutics, Inc. $TVTX

Hennion & Walsh Asset Management Inc. increased its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 169.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 99,229 shares of the company’s stock after acquiring an additional 62,419 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Travere Therapeutics were worth $3,792,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in TVTX. Assenagon Asset Management S.A. grew its position in Travere Therapeutics by 347.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 417,742 shares of the company’s stock worth $15,962,000 after buying an additional 324,387 shares in the last quarter. Diversified Trust Co. raised its holdings in shares of Travere Therapeutics by 5.7% in the 4th quarter. Diversified Trust Co. now owns 25,044 shares of the company’s stock valued at $957,000 after acquiring an additional 1,349 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Travere Therapeutics during the 4th quarter valued at about $224,000. Penn Capital Management Company LLC boosted its position in shares of Travere Therapeutics by 39.7% during the 3rd quarter. Penn Capital Management Company LLC now owns 27,004 shares of the company’s stock valued at $645,000 after acquiring an additional 7,680 shares during the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of Travere Therapeutics during the third quarter worth about $225,000.

Wall Street Analyst Weigh In

TVTX has been the topic of several research analyst reports. Piper Sandler upped their price objective on shares of Travere Therapeutics from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Guggenheim reissued a “buy” rating and issued a $49.00 price target on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Wall Street Zen lowered shares of Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, March 25th. Eleven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Travere Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $38.38.

Insiders Place Their Bets

In other news, insider William E. Rote sold 12,446 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $32.87, for a total value of $409,100.02. Following the completion of the sale, the insider directly owned 109,087 shares in the company, valued at approximately $3,585,689.69. The trade was a 10.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sandra Calvin sold 4,333 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $32.12, for a total transaction of $139,175.96. Following the completion of the sale, the chief accounting officer directly owned 49,080 shares of the company’s stock, valued at $1,576,449.60. This trade represents a 8.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 234,543 shares of company stock valued at $7,368,175 over the last 90 days. Company insiders own 4.06% of the company’s stock.

Travere Therapeutics Stock Performance

Shares of NASDAQ TVTX opened at $27.66 on Tuesday. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of -92.20 and a beta of 0.81. The company has a current ratio of 2.74, a quick ratio of 2.70 and a debt-to-equity ratio of 2.71. Travere Therapeutics, Inc. has a 1-year low of $12.91 and a 1-year high of $42.13. The stock’s 50-day moving average is $29.07 and its 200 day moving average is $30.70.

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.