21,315 Shares in Travere Therapeutics, Inc. (NASDAQ:TVTX) Acquired by Point72 DIFC Ltd

Point72 DIFC Ltd acquired a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 21,315 shares of the company’s stock, valued at approximately $175,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crestline Management LP grew its position in Travere Therapeutics by 32.6% in the 4th quarter. Crestline Management LP now owns 81,423 shares of the company’s stock valued at $732,000 after purchasing an additional 20,002 shares during the period. Finepoint Capital LP lifted 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 valued at $12,904,000 after buying an additional 539,500 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in shares of Travere Therapeutics by 18.6% during the fourth quarter. Rafferty Asset Management LLC now owns 429,161 shares of the company’s stock valued at $3,858,000 after buying an additional 67,168 shares during the last quarter. Sectoral Asset Management Inc. bought a new stake in shares of Travere Therapeutics during the fourth quarter worth about $2,469,000. Finally, Kynam Capital Management LP raised its holdings in shares of Travere Therapeutics by 105.6% in the 4th quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock worth $17,980,000 after acquiring an additional 1,027,398 shares during the last quarter.

Insider Transactions at Travere Therapeutics

In related news, CFO Christopher R. Cline sold 2,490 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $28,684.80. Following the transaction, the chief financial officer now owns 74,595 shares in the company, valued at $859,334.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Christopher R. Cline sold 2,490 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $28,684.80. Following the sale, the chief financial officer now directly owns 74,595 shares in the company, valued at approximately $859,334.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric M. Dube sold 21,125 shares of the company’s 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 directly owns 361,975 shares in the company, valued at $4,169,952. The disclosure for this sale can be found here. Insiders sold a total of 30,707 shares of company stock worth $352,712 in the last quarter. Insiders own 3.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wedbush lifted their price target on Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Bank of America cut their target price on Travere Therapeutics from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday. Barclays upped their price target on Travere Therapeutics from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Guggenheim dropped their price objective on Travere Therapeutics from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday. Finally, HC Wainwright reduced their target price on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Friday. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Travere Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $16.82.

Travere Therapeutics Trading Down 6.8 %

Shares of Travere Therapeutics stock opened at $14.01 on Friday. The stock has a fifty day moving average price of $10.66 and a 200-day moving average price of $8.44. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. The firm has a market cap of $1.07 billion, a PE ratio of -6.67 and a beta of 0.71. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $15.36.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). The company had revenue of $54.12 million for the quarter, compared to analysts’ expectations of $49.50 million. Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. Equities research analysts anticipate that Travere Therapeutics, Inc. will post -3.95 EPS for the current year.

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.