Putnam Investments LLC Reduces Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Putnam Investments LLC reduced its position in Travere Therapeutics, Inc. (NASDAQ:TVTX – Get Rating) by 1.8% in the 3rd quarter, Holdings Channel reports. The fund owned 49,740 shares of the company’s stock after selling 905 shares during the period. Putnam Investments LLC’s holdings in Travere Therapeutics were worth $1,226,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Armistice Capital LLC grew its stake in Travere Therapeutics by 9.7% in the 3rd quarter. Armistice Capital LLC now owns 5,836,000 shares of the company’s stock worth $143,799,000 after acquiring an additional 516,000 shares during the period. State Street Corp grew its stake in Travere Therapeutics by 21.9% in the 2nd quarter. State Street Corp now owns 3,607,165 shares of the company’s stock worth $87,402,000 after acquiring an additional 647,804 shares during the period. Renaissance Technologies LLC grew its stake in Travere Therapeutics by 22.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,657,022 shares of the company’s stock worth $40,150,000 after acquiring an additional 299,700 shares during the period. Dimensional Fund Advisors LP grew its stake in Travere Therapeutics by 3.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,099,058 shares of the company’s stock worth $28,321,000 after acquiring an additional 40,555 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Travere Therapeutics by 1.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,097,937 shares of the company’s stock worth $26,602,000 after acquiring an additional 13,369 shares during the period.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, SVP Elizabeth E. Reed sold 2,590 shares of the business’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $22.25, for a total value of $57,627.50. Following the transaction, the senior vice president now owns 57,436 shares in the company, valued at approximately $1,277,951. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Travere Therapeutics news, SVP Elizabeth E. Reed sold 2,590 shares of the business’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $22.25, for a total value of $57,627.50. Following the transaction, the senior vice president now owns 57,436 shares in the company, valued at approximately $1,277,951. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter Heerma sold 1,550 shares of the business’s stock in a transaction on Tuesday, January 24th. The stock was sold at an average price of $21.90, for a total transaction of $33,945.00. Following the completion of the transaction, the insider now owns 63,598 shares in the company, valued at approximately $1,392,796.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,311 shares of company stock worth $764,101. 4.71% of the stock is currently owned by corporate insiders.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $21.73 on Tuesday. The company has a current ratio of 3.42, a quick ratio of 3.37 and a debt-to-equity ratio of 8.76. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -4.97 and a beta of 0.48. The firm’s fifty day simple moving average is $21.15 and its 200 day simple moving average is $22.08. Travere Therapeutics, Inc. has a twelve month low of $17.82 and a twelve month high of $30.35.

Analyst Upgrades and Downgrades

Several analysts have commented on TVTX shares. Piper Sandler lowered their target price on shares of Travere Therapeutics from $44.00 to $41.00 in a research note on Monday. Wells Fargo & Company began coverage on shares of Travere Therapeutics in a report on Monday, December 5th. They issued an “overweight” rating and a $28.00 price target on the stock. HC Wainwright lifted their price target on shares of Travere Therapeutics from $36.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, February 21st. Guggenheim began coverage on shares of Travere Therapeutics in a report on Tuesday, February 28th. They issued a “buy” rating and a $37.00 price target on the stock. Finally, Wedbush upgraded shares of Travere Therapeutics from a “neutral” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Tuesday, February 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.91.

Travere Therapeutics Profile

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Travere Therapeutics, Inc is a biopharmaceutical company. It engages in the identification, development, commercialization, and distribution of therapies to people living with rare diseases. The firm’s products include Chenodal, Cholbam, and Thiola. The company was founded by Martin Shkreli on February 7, 2008 and is headquartered in San Diego, CA.