Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock Position Lessened by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 709,390 shares of the company’s stock after selling 53,518 shares during the period. Pictet Asset Management Holding SA owned approximately 0.91% of Travere Therapeutics worth $12,358,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new position in Travere Therapeutics during the 4th quarter valued at about $53,000. Quarry LP bought a new position in shares of Travere Therapeutics in the third quarter valued at approximately $105,000. Victory Capital Management Inc. acquired a new position in shares of Travere Therapeutics during the fourth quarter valued at approximately $182,000. Baader Bank Aktiengesellschaft bought a new stake in Travere Therapeutics during the fourth quarter worth approximately $192,000. Finally, Entropy Technologies LP acquired a new stake in Travere Therapeutics in the fourth quarter worth approximately $214,000.

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX opened at $17.44 on Wednesday. The company has a market cap of $1.55 billion, a P/E ratio of -4.25 and a beta of 0.75. The company’s fifty day moving average is $20.71 and its two-hundred day moving average is $18.60. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a 12-month low of $5.12 and a 12-month high of $25.29.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly 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 business had revenue of $74.79 million for the quarter, compared to analyst estimates of $72.38 million. Equities analysts expect that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other news, CAO Sandra Calvin sold 3,348 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $20.12, for a total transaction of $67,361.76. Following the transaction, the chief accounting officer now directly owns 63,654 shares in the company, valued at $1,280,718.48. The trade was a 5.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP William E. Rote sold 2,437 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $47,424.02. Following the sale, the senior vice president now owns 83,170 shares of the company’s stock, valued at approximately $1,618,488.20. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,335 shares of company stock valued at $4,194,712 over the last three months. 3.75% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TVTX. Scotiabank lifted their price target on Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Wednesday, February 12th. HC Wainwright boosted their price target on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Canaccord Genuity Group upped their price target on shares of Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Travere Therapeutics in a research note on Friday, February 21st. Finally, Evercore ISI increased their target price on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Travere Therapeutics has an average rating of “Moderate Buy” and an average target price of $31.46.

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.