PDT Partners LLC Raises Stake in Travere Therapeutics, Inc. (NASDAQ:TVTX)

PDT Partners LLC lifted its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTXFree Report) by 10.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 264,273 shares of the company’s stock after acquiring an additional 25,490 shares during the period. PDT Partners LLC’s holdings in Travere Therapeutics were worth $3,697,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aigen Investment Management LP acquired a new stake in Travere Therapeutics during the third quarter worth about $170,000. Assenagon Asset Management S.A. increased its holdings in shares of Travere Therapeutics by 912.5% during the 2nd 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. Oppenheimer & Co. Inc. purchased a new stake in shares of Travere Therapeutics during the 3rd quarter valued at approximately $673,000. Acadian Asset Management LLC raised its position in shares of Travere Therapeutics by 202.6% during the 2nd quarter. Acadian Asset Management LLC now owns 144,901 shares of the company’s stock valued at $1,190,000 after buying an additional 97,020 shares during the period. Finally, Millennium Management LLC lifted its holdings in Travere Therapeutics by 33.9% in the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after acquiring an additional 747,406 shares during the last quarter.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $18.81 on Friday. The company’s 50 day moving average is $17.11 and its two-hundred day moving average is $11.71. The firm has a market cap of $1.47 billion, a PE ratio of -4.15 and a beta of 0.70. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a 52-week low of $5.12 and a 52-week high of $20.33.

Travere Therapeutics (NASDAQ:TVTXGet Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.01. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The business had revenue of $62.90 million for the quarter, compared to analysts’ expectations of $60.87 million. During the same period last year, the firm earned ($1.17) earnings per share. The company’s revenue for the quarter was up 69.6% compared to the same quarter last year. On average, research analysts expect that Travere Therapeutics, Inc. will post -3.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on TVTX. Bank of America raised their target price on Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. Piper Sandler upped their target price on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Scotiabank lifted their price target on shares of Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $22.62.

View Our Latest Stock Analysis on Travere Therapeutics

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, CAO Sandra Calvin sold 12,090 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $18.30, for a total transaction of $221,247.00. Following the completion of the transaction, the chief accounting officer now owns 54,927 shares in the company, valued at $1,005,164.10. The trade was a 18.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP William E. Rote sold 4,387 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the completion of the sale, the senior vice president now directly owns 84,455 shares in the company, valued at approximately $972,921.60. This represents a 4.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,797 shares of company stock valued at $1,725,559 in the last quarter. Corporate insiders own 3.75% of the company’s stock.

Travere Therapeutics Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Travere Therapeutics (NASDAQ:TVTX)

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