Swiss National Bank Buys 17,200 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Swiss National Bank raised its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 12.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 151,900 shares of the company’s stock after acquiring an additional 17,200 shares during the quarter. Swiss National Bank’s holdings in Travere Therapeutics were worth $2,646,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TVTX. Rhumbline Advisers grew its holdings in shares of Travere Therapeutics by 2.2% in the 4th quarter. Rhumbline Advisers now owns 121,248 shares of the company’s stock worth $2,112,000 after purchasing an additional 2,640 shares during the last quarter. Arizona State Retirement System grew its stake in Travere Therapeutics by 13.5% during the fourth quarter. Arizona State Retirement System now owns 22,396 shares of the company’s stock worth $390,000 after buying an additional 2,666 shares during the last quarter. R Squared Ltd bought a new stake in Travere Therapeutics during the fourth quarter worth about $53,000. Diversified Trust Co increased its holdings in shares of Travere Therapeutics by 27.5% during the fourth quarter. Diversified Trust Co now owns 14,701 shares of the company’s stock worth $256,000 after buying an additional 3,169 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Travere Therapeutics by 20.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,969 shares of the company’s stock valued at $279,000 after acquiring an additional 3,458 shares during the last quarter.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CAO Sandra Calvin sold 54,244 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total value of $1,356,100.00. Following the completion of the sale, the chief accounting officer now directly owns 54,410 shares in the company, valued at $1,360,250. This represents a 49.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher R. Cline sold 5,192 shares of Travere Therapeutics stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $20.12, for a total value of $104,463.04. Following the transaction, the chief financial officer now owns 90,038 shares in the company, valued at $1,811,564.56. This trade represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,335 shares of company stock worth $4,194,712 in the last ninety days. Company insiders own 3.75% of the company’s stock.

Travere Therapeutics Stock Performance

TVTX stock opened at $20.37 on Friday. Travere Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $25.29. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The company has a market cap of $1.81 billion, a P/E ratio of -4.97 and a beta of 0.75. The business’s fifty day moving average is $20.73 and its 200-day moving average is $18.40.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.15). Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The company had revenue of $74.79 million during the quarter, compared to analyst estimates of $72.38 million. Equities research analysts forecast that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TVTX. Canaccord Genuity Group raised their price target on Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Evercore ISI lifted their price target on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. increased their price objective on shares of Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Scotiabank boosted their target price on shares of Travere Therapeutics from $27.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, February 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Travere Therapeutics in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $30.62.

About Travere Therapeutics

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.