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

PDT Partners LLC lifted its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) 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:TVTX) 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.

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

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.