AlphaCrest Capital Management LLC Decreases Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

AlphaCrest Capital Management LLC lessened its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTXGet Rating) by 63.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 20,453 shares of the company’s stock after selling 35,338 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Travere Therapeutics were worth $527,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. State Street Corp increased its holdings in Travere Therapeutics by 3.8% during the fourth quarter. State Street Corp now owns 2,887,077 shares of the company’s stock worth $89,615,000 after buying an additional 104,754 shares during the last quarter. Deep Track Capital LP purchased a new stake in Travere Therapeutics during the fourth quarter worth about $76,048,000. JPMorgan Chase & Co. increased its stake in shares of Travere Therapeutics by 16.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,134,509 shares of the company’s stock worth $35,216,000 after purchasing an additional 158,369 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Travere Therapeutics by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,058,503 shares of the company’s stock worth $32,854,000 after purchasing an additional 88,033 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Travere Therapeutics by 6.0% in the fourth quarter. Geode Capital Management LLC now owns 1,043,283 shares of the company’s stock worth $32,383,000 after purchasing an additional 59,305 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TVTX shares. Piper Sandler reduced their target price on shares of Travere Therapeutics from $41.00 to $39.00 in a research note on Monday, August 15th. Barclays reduced their target price on shares of Travere Therapeutics to $37.00 in a research note on Tuesday, August 9th. SVB Leerink lifted their target price on shares of Travere Therapeutics from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, August 5th. HC Wainwright reduced their target price on shares of Travere Therapeutics from $46.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, August 8th. Finally, Evercore ISI reduced their target price on shares of Travere Therapeutics to $35.00 in a research note on Tuesday, August 9th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Travere Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $40.29.

Travere Therapeutics Price Performance

TVTX stock opened at $27.25 on Thursday. The firm has a 50 day moving average of $25.80 and a 200-day moving average of $25.50. The company has a current ratio of 4.71, a quick ratio of 4.65 and a debt-to-equity ratio of 2.39. Travere Therapeutics, Inc. has a 12 month low of $20.80 and a 12 month high of $31.65. The firm has a market capitalization of $1.73 billion, a P/E ratio of -7.40 and a beta of 0.58.

About Travere Therapeutics

(Get Rating)

Travere Therapeutics, Inc, a biopharmaceutical company, focuses on the identification, development, commercialization, and delivering of therapies for the treatment of rare diseases. Its marketed products include Chenodal, a synthetic oral form of chenodeoxycholic acid for the treatment of radiolucent stones in gallbladders; Cholbam, a cholic acid capsule to treat pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects, as well as for adjunctive treatment of patients with peroxisomal disorders; and Thiola and Thiola EC, a tiopronin tablet for the treatment of homozygous cystinuria.

Further Reading

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Institutional Ownership by Quarter for Travere Therapeutics (NASDAQ:TVTX)

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