166,000 Shares in Travere Therapeutics, Inc. $TVTX Purchased by Apis Capital Advisors LLC

Apis Capital Advisors LLC purchased a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 166,000 shares of the company’s stock, valued at approximately $3,967,000. Travere Therapeutics comprises approximately 0.9% of Apis Capital Advisors LLC’s holdings, making the stock its 25th largest position. Apis Capital Advisors LLC owned approximately 0.19% of Travere Therapeutics as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TVTX. Arizona State Retirement System grew its holdings in shares of Travere Therapeutics by 1.5% in the third quarter. Arizona State Retirement System now owns 24,964 shares of the company’s stock valued at $597,000 after purchasing an additional 375 shares in the last quarter. Prudential Financial Inc. increased its position in Travere Therapeutics by 0.3% in the second quarter. Prudential Financial Inc. now owns 244,256 shares of the company’s stock worth $3,615,000 after purchasing an additional 615 shares during the last quarter. Diversified Trust Co raised its stake in Travere Therapeutics by 3.5% during the third quarter. Diversified Trust Co now owns 23,695 shares of the company’s stock valued at $566,000 after purchasing an additional 796 shares in the last quarter. Sio Capital Management LLC raised its stake in Travere Therapeutics by 1.0% during the second quarter. Sio Capital Management LLC now owns 122,210 shares of the company’s stock valued at $1,809,000 after purchasing an additional 1,210 shares in the last quarter. Finally, First Horizon Corp bought a new position in Travere Therapeutics during the third quarter valued at $36,000.

Travere Therapeutics Trading Up 0.9%

TVTX stock opened at $27.80 on Friday. The company has a quick ratio of 2.70, a current ratio of 2.74 and a debt-to-equity ratio of 2.71. Travere Therapeutics, Inc. has a twelve month low of $12.91 and a twelve month high of $42.13. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of -92.66 and a beta of 0.81. The firm’s fifty day simple moving average is $30.15 and its two-hundred day simple moving average is $30.09.

Insider Activity

In related news, CEO Eric M. Dube sold 100,087 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $32.28, for a total transaction of $3,230,808.36. Following the transaction, the chief executive officer directly owned 432,886 shares in the company, valued at approximately $13,973,560.08. This represents a 18.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Elizabeth E. Reed sold 10,000 shares of the stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $27.34, for a total transaction of $273,400.00. Following the completion of the sale, the insider directly owned 90,270 shares in the company, valued at $2,467,981.80. This trade represents a 9.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 311,925 shares of company stock worth $10,618,555 in the last 90 days. Company insiders own 4.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on TVTX. Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Guggenheim restated a “buy” rating and set a $49.00 target price on shares of Travere Therapeutics in a research report on Wednesday, January 14th. HC Wainwright reaffirmed a “buy” rating and issued a $47.00 price target on shares of Travere Therapeutics in a report on Friday, November 28th. Wall Street Zen lowered Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Piper Sandler boosted their price objective on Travere Therapeutics from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.17.

About Travere Therapeutics

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.