Connor Clark & Lunn Investment Management Ltd. Has $7.43 Million Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 18.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 426,726 shares of the company’s stock after selling 98,655 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.55% of Travere Therapeutics worth $7,434,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd acquired a new position in shares of Travere Therapeutics in the 4th quarter worth approximately $53,000. Quarry LP acquired a new position in Travere Therapeutics in the third quarter worth $105,000. Aigen Investment Management LP bought a new stake in shares of Travere Therapeutics during the third quarter worth $170,000. Victory Capital Management Inc. acquired a new stake in shares of Travere Therapeutics in the fourth quarter valued at $182,000. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Travere Therapeutics in the fourth quarter valued at about $192,000.

Travere Therapeutics Stock Performance

Shares of NASDAQ:TVTX opened at $19.73 on Friday. The firm’s 50 day simple moving average is $20.33 and its 200 day simple moving average is $17.77. Travere Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $25.29. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -4.81 and a beta of 0.75. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.15). Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The firm had revenue of $74.79 million during the quarter, compared to analyst estimates of $72.38 million. As a group, sell-side analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Sandra Calvin sold 15,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 54,927 shares of the company’s stock, valued at $945,842.94. This trade represents a 21.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Peter Heerma sold 1,584 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total transaction of $30,000.96. Following the completion of the sale, the insider now directly owns 106,374 shares in the company, valued at approximately $2,014,723.56. This represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 206,335 shares of company stock valued at $4,453,012. 3.75% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TVTX shares. HC Wainwright raised their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Canaccord Genuity Group raised their price target on shares of Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Scotiabank upped their price objective on Travere Therapeutics from $27.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Wednesday, February 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of Travere Therapeutics in a research note on Friday, February 21st. Finally, Citigroup upped their price target on Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, February 24th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.62.

About Travere Therapeutics

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.