Frazier Life Sciences Management L.P. Trims Holdings in Travere Therapeutics, Inc. $TVTX

Frazier Life Sciences Management L.P. trimmed its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 38.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 241,592 shares of the company’s stock after selling 150,500 shares during the period. Frazier Life Sciences Management L.P.’s holdings in Travere Therapeutics were worth $9,231,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Entropy Technologies LP raised its stake in shares of Travere Therapeutics by 32.2% in the 4th quarter. Entropy Technologies LP now owns 22,201 shares of the company’s stock valued at $848,000 after acquiring an additional 5,408 shares during the period. Aigen Investment Management LP purchased a new stake in Travere Therapeutics during the 4th quarter worth approximately $427,000. FORA Capital LLC purchased a new stake in Travere Therapeutics during the 4th quarter worth approximately $307,000. Segall Bryant & Hamill LLC purchased a new stake in Travere Therapeutics during the 4th quarter worth approximately $1,039,000. Finally, Stifel Financial Corp purchased a new stake in Travere Therapeutics during the 4th quarter worth approximately $488,000.

Insider Buying and Selling

In other Travere Therapeutics news, insider Jula Inrig sold 2,174 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $46.65, for a total value of $101,417.10. Following the sale, the insider directly owned 113,549 shares of the company’s stock, valued at approximately $5,297,060.85. This represents a 1.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William E. Rote sold 2,763 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $43.95, for a total transaction of $121,433.85. Following the completion of the sale, the insider directly owned 115,474 shares in the company, valued at approximately $5,075,082.30. This represents a 2.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 400,015 shares of company stock worth $15,895,428. Corporate insiders own 4.44% of the company’s stock.

Travere Therapeutics Trading Up 6.4%

Shares of NASDAQ:TVTX opened at $52.04 on Friday. Travere Therapeutics, Inc. has a 52 week low of $13.88 and a 52 week high of $52.72. The company’s 50 day moving average is $41.70 and its two-hundred day moving average is $35.26. The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16. The company has a market cap of $4.84 billion, a PE ratio of -226.25 and a beta of 1.13.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.29. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The company had revenue of $127.20 million for the quarter, compared to the consensus estimate of $136.23 million. During the same period in the prior year, the firm posted ($0.47) EPS. The company’s quarterly revenue was up 55.6% compared to the same quarter last year. Equities analysts predict that Travere Therapeutics, Inc. will post -0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TVTX shares. Piper Sandler raised shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 target price on the stock in a research note on Tuesday, April 14th. Wells Fargo & Company upped their target price on shares of Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday. Weiss Ratings raised shares of Travere Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 21st. HC Wainwright upped their target price on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Finally, Guggenheim upped their target price on shares of Travere Therapeutics from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Travere Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $50.17.

Travere Therapeutics 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.