Hsbc Holdings PLC Makes New Investment in Travere Therapeutics, Inc. $TVTX

Hsbc Holdings PLC purchased a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) during the second quarter, Holdings Channel reports. The institutional investor purchased 220,611 shares of the company’s stock, valued at approximately $12,595,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TVTX. State Street Corp increased its stake in shares of Travere Therapeutics by 47.8% during the fourth quarter. State Street Corp now owns 4,756,666 shares of the company’s stock worth $181,752,000 after buying an additional 1,538,827 shares during the period. Perceptive Advisors LLC lifted its stake in Travere Therapeutics by 12.7% in the fourth quarter. Perceptive Advisors LLC now owns 4,278,180 shares of the company’s stock worth $163,469,000 after acquiring an additional 483,565 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Travere Therapeutics by 27.4% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company’s stock worth $41,203,000 after acquiring an additional 599,102 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Travere Therapeutics by 28.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,246,779 shares of the company’s stock worth $85,849,000 after acquiring an additional 494,665 shares in the last quarter. Finally, Rock Springs Capital Management LP grew its holdings in Travere Therapeutics by 2.1% during the 4th quarter. Rock Springs Capital Management LP now owns 2,210,322 shares of the company’s stock worth $84,456,000 after acquiring an additional 45,549 shares in the last quarter.

Insider Buying and Selling

In other news, Director Roy D. Baynes sold 4,500 shares of Travere Therapeutics stock in a transaction on Friday, June 12th. The shares were sold at an average price of $50.00, for a total value of $225,000.00. Following the transaction, the director directly owned 41,500 shares of the company’s stock, valued at $2,075,000. The trade was a 9.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $50.07, for a total transaction of $500,700.00. Following the completion of the sale, the director owned 56,250 shares of the company’s stock, valued at approximately $2,816,437.50. This trade represents a 15.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.44% of the company’s stock.

Analyst Ratings Changes

TVTX has been the topic of a number of recent analyst reports. Evercore set a $78.00 price objective on shares of Travere Therapeutics in a research report on Monday, August 10th. Wall Street Zen cut shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings downgraded shares of Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 23rd. Citigroup increased their target price on Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Piper Sandler restated an “overweight” rating on shares of Travere Therapeutics in a research note on Monday, August 17th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $61.67.

Travere Therapeutics Stock Down 2.7%

Shares of NASDAQ TVTX opened at $65.67 on Friday. The stock has a market cap of $6.19 billion, a PE ratio of -142.76 and a beta of 1.12. The company has a quick ratio of 3.99, a current ratio of 4.05 and a debt-to-equity ratio of 24.58. Travere Therapeutics, Inc. has a 52-week low of $17.27 and a 52-week high of $67.85. The business has a 50-day moving average price of $59.34 and a 200 day moving average price of $44.84.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.03. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.The company had revenue of $169.58 million for the quarter, compared to analyst estimates of $157.27 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The firm’s revenue was up 48.2% compared to the same quarter last year. Equities research analysts forecast that Travere Therapeutics, Inc. will post -0.56 earnings per share for the current year.

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.