Nisa Investment Advisors LLC Trims Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Nisa Investment Advisors LLC lessened its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 13.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,249 shares of the company’s stock after selling 636 shares during the period. Nisa Investment Advisors LLC’s holdings in Travere Therapeutics were worth $76,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Driehaus Capital Management LLC boosted its holdings in shares of Travere Therapeutics by 608.1% in the fourth quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company’s stock worth $38,637,000 after buying an additional 1,904,733 shares during the period. BNP Paribas Financial Markets acquired a new stake in Travere Therapeutics in the 4th quarter worth $21,075,000. RA Capital Management L.P. acquired a new position in Travere Therapeutics in the 4th quarter valued at approximately $20,033,000. Jacobs Levy Equity Management Inc. lifted its position in shares of Travere Therapeutics by 36.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company’s stock worth $37,875,000 after acquiring an additional 583,836 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of Travere Therapeutics by 28.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company’s stock worth $41,974,000 after purchasing an additional 534,500 shares in the last quarter.

Analysts Set New Price Targets

TVTX has been the topic of a number of recent research reports. Wedbush reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Travere Therapeutics in a report on Friday, May 16th. Stifel Nicolaus raised their price target on Travere Therapeutics from $22.00 to $23.00 and gave the company a “hold” rating in a report on Friday, May 2nd. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Travere Therapeutics in a report on Tuesday, July 1st. Citigroup decreased their price objective on shares of Travere Therapeutics from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Travere Therapeutics in a research report on Friday, April 11th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Travere Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $32.14.

Travere Therapeutics Stock Down 2.4%

Shares of NASDAQ TVTX opened at $16.11 on Friday. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -5.73 and a beta of 0.72. The company has a current ratio of 2.05, a quick ratio of 2.03 and a debt-to-equity ratio of 9.46. The stock has a 50-day moving average price of $15.87 and a two-hundred day moving average price of $18.06. Travere Therapeutics, Inc. has a 12 month low of $7.93 and a 12 month high of $25.29.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.08. Travere Therapeutics had a negative net margin of 82.88% and a negative return on equity of 1,179.73%. The firm had revenue of $81.73 million for the quarter, compared to analyst estimates of $77.44 million. During the same quarter last year, the business posted ($1.76) earnings per share. The company’s quarterly revenue was up 83.3% on a year-over-year basis. As a group, analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, CFO Christopher R. Cline sold 1,784 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $37,553.20. Following the completion of the transaction, the chief financial officer directly owned 93,126 shares in the company, valued at approximately $1,960,302.30. This represents a 1.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric M. Dube sold 18,924 shares of Travere Therapeutics stock in a transaction on Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $398,350.20. Following the transaction, the chief executive officer owned 419,173 shares in the company, valued at approximately $8,823,591.65. This trade represents a 4.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,294 shares of company stock worth $485,123. Insiders own 4.19% of the company’s stock.

Travere Therapeutics 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.