Bank of New York Mellon Corp Boosts Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Bank of New York Mellon Corp raised its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 216,863 shares of the company’s stock after acquiring an additional 7,513 shares during the period. Bank of New York Mellon Corp owned approximately 0.28% of Travere Therapeutics worth $3,778,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of TVTX. R Squared Ltd acquired a new stake in shares of Travere Therapeutics in the 4th quarter worth $53,000. Quarry LP purchased a new stake in shares of Travere Therapeutics during the third quarter worth about $105,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Travere Therapeutics during the fourth quarter valued at about $192,000. Entropy Technologies LP purchased a new position in shares of Travere Therapeutics in the 4th quarter valued at approximately $214,000. Finally, Diversified Trust Co boosted its stake in Travere Therapeutics by 27.5% in the 4th quarter. Diversified Trust Co now owns 14,701 shares of the company’s stock worth $256,000 after purchasing an additional 3,169 shares in the last quarter.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $19.84 on Wednesday. The company’s 50-day moving average is $20.38 and its two-hundred day moving average is $17.99. Travere Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $25.29. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -4.84 and a beta of 0.75.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $72.38 million. Analysts forecast that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Analyst Upgrades and Downgrades

TVTX has been the topic of several research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Travere Therapeutics in a research report on Friday, February 21st. HC Wainwright lifted their target price on Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Scotiabank upped their target price 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. JPMorgan Chase & Co. raised their price target on shares of Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Finally, Canaccord Genuity Group lifted their price objective on shares of Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.62.

Insiders Place Their Bets

In related news, CAO Sandra Calvin sold 15,000 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $17.22, for a total transaction of $258,300.00. Following the completion of the transaction, the chief accounting officer now owns 54,927 shares in the company, valued at approximately $945,842.94. The trade was a 21.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP William E. Rote sold 5,200 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $23.53, for a total value of $122,356.00. Following the completion of the transaction, the senior vice president now owns 98,519 shares in the company, valued at approximately $2,318,152.07. The trade was a 5.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,335 shares of company stock worth $4,453,012 over the last 90 days. Corporate insiders own 3.75% of the company’s stock.

Travere Therapeutics Company Profile

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.