S&CO Inc. Takes Position in Travere Therapeutics, Inc. $TVTX

S&CO Inc. purchased a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 56,000 shares of the company’s stock, valued at approximately $3,181,000.

Several other large investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Travere Therapeutics during the second quarter worth about $33,000. GAMMA Investing LLC increased its stake in shares of Travere Therapeutics by 53.4% in the second quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock worth $34,000 after purchasing an additional 211 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of Travere Therapeutics in the first quarter valued at approximately $35,000. State of Wyoming bought a new stake in shares of Travere Therapeutics in the fourth quarter valued at approximately $37,000. Finally, Torren Management LLC purchased a new stake in shares of Travere Therapeutics during the 4th quarter valued at approximately $38,000.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, Director Roy D. Baynes sold 4,500 shares of the firm’s 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 completion of the transaction, the director directly owned 41,500 shares of the company’s stock, valued at $2,075,000. This trade represents a 9.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $50.07, for a total transaction of $500,700.00. Following the completion of the transaction, the director directly owned 56,250 shares in the company, valued at approximately $2,816,437.50. The trade was a 15.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Guggenheim raised their price objective on shares of Travere Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. HC Wainwright boosted their target price on shares of Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Wells Fargo & Company increased their target price on Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. TD Cowen raised their price target on Travere Therapeutics from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen cut Travere Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.67.

Travere Therapeutics Trading Up 1.2%

Shares of Travere Therapeutics stock opened at $62.14 on Friday. The company’s 50-day moving average price is $56.51 and its 200-day moving average price is $42.42. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58. Travere Therapeutics, Inc. has a 12-month low of $17.05 and a 12-month high of $66.24. The company has a market cap of $5.86 billion, a price-to-earnings ratio of -135.08 and a beta of 1.12.

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.