TVARDI THERAPEUTICS INC TVRD
COM · Common Stock · CUSIP 140755307 · ISIN US1407553072
- SectorHealth care
- IndustryPharmaceutical Preparations
- HeadquartersSugar Land, TX
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($1.6k this quarter). Holder counts are more reliable. Shares outstanding: 13.3m as of 2026-08-11, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $1.91.
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 1 |
| Q4 2022 | 1 |
| Q1 2023 | 1 |
| Q2 2023 | 1 |
| Q3 2023 | 1 |
| Q4 2023 | 0 |
| Q1 2024 | 0 |
| Q2 2024 | 0 |
| Q3 2024 | 0 |
| Q4 2024 | 0 |
| Q1 2025 | 0 |
| Q2 2025 | 49 |
| Q3 2025 | 65 |
| Q4 2025 | 64 |
| Q1 2026 | 67 |
| Q2 2026 | 58 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2023 | 0 | 0 |
| Q2 2023 | 0 | 0 |
| Q3 2023 | 0 | 0 |
| Q4 2023 | 0 | 1 |
| Q3 2025 | 44 | 13 |
| Q4 2025 | 42 | 22 |
| Q1 2026 | 31 | 28 |
| Q2 2026 | 20 | 44 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $1.7m | $73.2k | 0.04 |
| Q4 2025 | $94.6k | $0 | 0.00 |
| Q1 2026 | $0 | $0 | — |
| Q2 2026 | $0 | $0 | — |
Biggest buyers
| UBS Group AG | Added | +60.7k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | +33.2k |
| Russell Investments Group, Ltd. | Added | +19.9k |
| Savant Capital, LLC | New | +19.5k |
| GSA CAPITAL PARTNERS LLP | New | +17.9k |
| DIADEMA PARTNERS LP | New | +16.6k |
| XTX Topco Ltd | New | +14.9k |
| BROWN ADVISORY INC | New | +11.2k |
| Qube Research & Technologies Ltd | New | +10.2k |
| MORGAN STANLEY | Added | +5.0k |
Biggest sellers
| BlackRock, Inc. | Reduced | -292.6k |
| GEODE CAPITAL MANAGEMENT, LLC | Reduced | -92.0k |
| STATE STREET CORP | Reduced | -63.3k |
| GREAT LAKES ADVISORS, LLC | Sold out | -36.2k |
| VANGUARD PORTFOLIO MANAGEMENT LLC | Sold out | -33.8k |
| Squarepoint Ops LLC | Sold out | -32.7k |
| NORTHERN TRUST CORP | Reduced | -27.2k |
| GOLDMAN SACHS GROUP INC | Sold out | -23.9k |
| FARALLON CAPITAL MANAGEMENT, L.L.C. | Sold out | -21.4k |
| Bank of New York Mellon Corp | Sold out | -17.4k |
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Slate Path Capital LP 13G · institution new · filed 2025-08-14 | 7.5% |
Fell to 5% or below in the last year: DePinho Ronald A (4.5%, 2026-02-17)
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 1 | — | — |
| Q1 2025 | 0 | — | 2 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 0 | — | 0 | — | — |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 0 | — | 0 | — | — |
None reported since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| Slate Path Capital LP 0.02% of their portfolio | 704.1k $1.3m | Unchanged |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 344.4k $654.3k | Reduced -326 |
| AMERICAN FINANCIAL GROUP INC 0.15% of their portfolio | 223.7k $425.0k | Unchanged |
| UBS Group AG 0.00% of their portfolio | 111.1k $211.2k | Added +60.7k |
| SILVERCREST ASSET MANAGEMENT GROUP LLC 0.00% of their portfolio | 101.0k $192.0k | Unchanged |
| BlackRock, Inc. 0.00% of their portfolio | 95.5k $181.4k | Reduced -292.6k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 91.4k $173.7k | Reduced -691 |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 90.3k $171.7k | Reduced -92.0k |
| MORGAN STANLEY 0.00% of their portfolio | 77.8k $147.9k | Added +5.0k |
| Duncan Williams Asset Management, LLC 0.03% of their portfolio | 63.2k $120.2k | Unchanged |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 44.7k $84.9k | Reduced -2.2k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 43.2k $82.1k | Added +19.9k |
| STATE STREET CORP 0.00% of their portfolio | 33.9k $64.4k | Reduced -63.3k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 33.2k $63.0k | New |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 27.1k $51.5k | Reduced -15.1k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 21.8k $41.5k | Reduced -27.2k |
| Savant Capital, LLC 0.00% of their portfolio | 19.5k $49.4k | New |
| GSA CAPITAL PARTNERS LLP 0.00% of their portfolio | 17.9k $34.0k | New |
| DIADEMA PARTNERS LP 0.01% of their portfolio | 16.6k $31.6k | New |
| XTX Topco Ltd 0.00% of their portfolio | 14.9k $28.2k | New |
| BROWN ADVISORY INC 0.00% of their portfolio | 11.2k $21.3k | New |
| Arax Advisory Partners 0.00% of their portfolio | 11.0k $20.9k | Added +2.7k |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 10.2k $19.4k | New |
| Persistent Asset Partners Ltd 0.00% of their portfolio | 4.3k $8.1k | New |
| PNC Financial Services Group, Inc. 0.00% of their portfolio | 3.5k $6.7k | Added +3.0k |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 3.4k $6.5k | Unchanged |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 3.3k $6.2k | Reduced -187 |
| FMR LLC 0.00% of their portfolio | 1.3k $2.5k | Reduced -4.0k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 1.3k $2.4k | Reduced -991 |
| BARCLAYS PLC 0.00% of their portfolio | 565 $1.1k | Reduced -381 |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 466 $1.0k | Added +381 |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 239 $454 | Reduced -1.2k |
| GROUP ONE TRADING LLC 0.00% of their portfolio | 214 $407 | Unchanged |
| Allworth Financial LP 0.00% of their portfolio | 158 $301 | Reduced -48 |
| TD PRIVATE CLIENT WEALTH LLC 0.00% of their portfolio | 149 $283 | New |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 126 $240 | Reduced -2.4k |
| NISA INVESTMENT ADVISORS, LLC 0.00% of their portfolio | 85 $162 | New |
| Integrated Wealth Concepts LLC 0.00% of their portfolio | 61 $118 | New |
| EverSource Wealth Advisors, LLC 0.00% of their portfolio | 46 $88 | Reduced -21 |
| GAMMA Investing LLC 0.00% of their portfolio | 40 $76 | Reduced -49 |
| JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio | 27 $41 | Reduced -101 |
| LRI Investments, LLC 0.00% of their portfolio | 27 $51 | Unchanged |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 24 $44 | Added +22 |
| Farther Finance Advisors, LLC 0.00% of their portfolio | 16 $30 | Reduced -7 |
| HARBOUR INVESTMENTS, INC. 0.00% of their portfolio | 15 $29 | Unchanged |
| Leonteq Securities AG 0.00% of their portfolio | 12 $23 | Unchanged |
| ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio | 9 $17 | Reduced -3 |
| IFP Advisors, Inc 0.00% of their portfolio | 6 $11 | Reduced -30 |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.00% of their portfolio | 6 $12 | Unchanged |
| Truvestments Capital LLC 0.00% of their portfolio | 4 $8 | Unchanged |
| SBI Securities Co., Ltd. 0.00% of their portfolio | 3 $6 | Reduced -2 |
| Larson Financial Group LLC 0.00% of their portfolio | 2 $4 | Unchanged |
| True Wealth Design, LLC 0.00% of their portfolio | 2 $4 | Reduced -7 |
| FIFTH THIRD BANCORP 0.00% of their portfolio | 1 $2 | Unchanged |
| CITIGROUP INC 0.00% of their portfolio | 1 $2 | Reduced -275 |
| Axiom Investment Management LLC 0.00% of their portfolio | 1 $2 | New |
| Front Row Advisors LLC 0.00% of their portfolio | 1 $2 | New |
| SJS Investment Consulting Inc. 0.00% of their portfolio | 1 $2 | Unchanged |