35,377 Shares in Travere Therapeutics, Inc. (NASDAQ:TVTX) Bought by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 35,377 shares of the company’s stock, valued at approximately $291,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Travere Therapeutics by 13.6% during the first quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock valued at $48,310,000 after acquiring an additional 750,686 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Travere Therapeutics by 912.5% during the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock worth $18,200,000 after buying an additional 1,995,419 shares during the last quarter. Kynam Capital Management LP boosted its position in shares of Travere Therapeutics by 105.6% in the fourth quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock valued at $17,980,000 after acquiring an additional 1,027,398 shares during the period. Finepoint Capital LP grew its stake in shares of Travere Therapeutics by 60.2% in the fourth quarter. Finepoint Capital LP now owns 1,435,321 shares of the company’s stock worth $12,904,000 after acquiring an additional 539,500 shares during the last quarter. Finally, Parkman Healthcare Partners LLC increased its position in Travere Therapeutics by 76.4% during the fourth quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock worth $9,159,000 after acquiring an additional 441,318 shares during the period.

Travere Therapeutics Stock Performance

NASDAQ TVTX opened at $15.04 on Friday. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -7.16 and a beta of 0.71. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $15.36. The company has a 50 day moving average of $10.57 and a 200-day moving average of $8.40.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The business had revenue of $54.12 million during the quarter, compared to the consensus estimate of $49.50 million. Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. On average, equities analysts forecast that Travere Therapeutics, Inc. will post -3.95 earnings per share for the current fiscal year.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the sale, the chief executive officer now owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP William E. Rote sold 4,387 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $50,538.24. Following the completion of the transaction, the senior vice president now owns 84,455 shares in the company, valued at approximately $972,921.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric M. Dube sold 21,125 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $243,360.00. Following the completion of the transaction, the chief executive officer now owns 361,975 shares in the company, valued at $4,169,952. The disclosure for this sale can be found here. Insiders sold 30,707 shares of company stock valued at $352,712 over the last ninety days. 3.75% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have commented on TVTX. Guggenheim raised Travere Therapeutics from a “neutral” rating to a “buy” rating and set a $25.00 price target for the company in a report on Monday, September 9th. Citigroup lifted their price target on shares of Travere Therapeutics from $14.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. boosted their price target on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Piper Sandler raised their price objective on shares of Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Canaccord Genuity Group upped their target price on shares of Travere Therapeutics from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.91.

Travere Therapeutics Company Profile

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.