Loomis Sayles & Co. L P Trims Position in Travere Therapeutics, Inc. $TVTX

Loomis Sayles & Co. L P reduced its holdings in Travere Therapeutics by 41.3% in Q2, now owning 439,341 shares worth $6.5 million. Other investors also adjusted their stakes. Travere's stock opened at $35.19, with a market cap of $3.15 billion. The company reported Q3 earnings of $0.28 per share, beating estimates, with revenue up 162.1% year-over-year. Insiders sold shares worth $7.22 million recently. Analysts have mixed ratings, with price targets ranging from $25 to $48.

Loomis Sayles & Co. L P lessened its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 41.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 439,341 shares of the company's stock after selling 308,811 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.49% of Travere Therapeutics worth $6,502,000 as of its most recent filing with the Securities & Exchange Commission.

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Other large investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in Travere Therapeutics during the 1st quarter valued at $62,000. Atria Investments Inc bought a new stake in shares of Travere Therapeutics during the 2nd quarter valued at about $154,000. Corton Capital Inc. purchased a new position in shares of Travere Therapeutics during the second quarter valued at about $159,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Travere Therapeutics during the second quarter valued at about $241,000. Finally, E Fund Management Co. Ltd. raised its stake in Travere Therapeutics by 8.6% in the first quarter. E Fund Management Co. Ltd. now owns 13,553 shares of the company's stock worth $243,000 after buying an additional 1,072 shares in the last quarter.

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Travere Therapeutics Stock Down 0.6%

Shares of NASDAQ:TVTX opened at $35.19 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 1.98 and a debt-to-equity ratio of 9.50. The stock has a fifty day simple moving average of $30.23 and a two-hundred day simple moving average of $21.75. Travere Therapeutics, Inc. has a 12-month low of $12.91 and a 12-month high of $37.50. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of -17.25 and a beta of 0.90.

Travere Therapeutics Still On The Rise After Encouraging Data

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.59. The firm had revenue of $164.86 million during the quarter, compared to the consensus estimate of $106.09 million. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The company's revenue was up 162.1% on a year-over-year basis. During the same period last year, the company earned ($0.70) earnings per share. On average, research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 27,128 shares of Travere Therapeutics stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $30.12, for a total value of $817,095.36. Following the completion of the transaction, the chief executive officer directly owned 419,173 shares of the company's stock, valued at approximately $12,625,490.76. The trade was a 6.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter Heerma sold 5,591 shares of the company's stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $35.00, for a total transaction of $195,685.00. Following the completion of the transaction, the insider owned 119,071 shares in the company, valued at approximately $4,167,485. This represents a 4.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 223,941 shares of company stock worth $7,221,380 in the last 90 days. Insiders own 4.19% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Stifel Nicolaus lifted their price objective on Travere Therapeutics from $20.00 to $25.00 and gave the company a "hold" rating in a research report on Friday, September 12th. Jefferies Financial Group set a $35.00 price target on Travere Therapeutics in a research report on Wednesday, September 10th. Citigroup increased their price objective on Travere Therapeutics from $34.00 to $48.00 and gave the stock a "buy" rating in a report on Friday, October 31st. Wells Fargo & Company boosted their target price on shares of Travere Therapeutics from $27.00 to $35.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. Finally, Zacks Research downgraded shares of Travere Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 12th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Travere Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $38.71.

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Travere Therapeutics Profile

(Free Report)

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.

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