Travere Therapeutics, Inc. (NASDAQ:TVTX) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 33.3% during the 4th quarter, Holdings Channel reports. The firm owned 22,935 shares of the company’s stock after buying an additional 5,730 shares during the period. Teacher Retirement System of Texas’ holdings in Travere Therapeutics were worth $400,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of TVTX. Swiss National Bank increased its position in Travere Therapeutics by 12.8% during the fourth quarter. Swiss National Bank now owns 151,900 shares of the company’s stock worth $2,646,000 after buying an additional 17,200 shares in the last quarter. E Fund Management Co. Ltd. purchased a new stake in Travere Therapeutics during the 4th quarter worth about $217,000. Arizona State Retirement System raised its stake in Travere Therapeutics by 13.5% in the 4th quarter. Arizona State Retirement System now owns 22,396 shares of the company’s stock valued at $390,000 after purchasing an additional 2,666 shares during the last quarter. Aigen Investment Management LP lifted its holdings in Travere Therapeutics by 56.6% in the 4th quarter. Aigen Investment Management LP now owns 19,072 shares of the company’s stock valued at $332,000 after purchasing an additional 6,892 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of Travere Therapeutics during the 4th quarter worth about $182,000.

Travere Therapeutics Stock Down 8.9 %

Shares of NASDAQ:TVTX opened at $17.92 on Tuesday. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $25.29. The stock has a 50-day simple moving average of $20.75 and a 200-day simple moving average of $18.57. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The stock has a market capitalization of $1.59 billion, a P/E ratio of -4.37 and a beta of 0.75.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.15). Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The business had revenue of $74.79 million for the quarter, compared to analysts’ expectations of $72.38 million. Equities analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TVTX. Scotiabank boosted their price objective on shares of Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Wednesday, February 12th. Citigroup boosted their price target on Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a report on Monday, February 24th. HC Wainwright raised their price objective on Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. JPMorgan Chase & Co. lifted their price objective on Travere Therapeutics from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Travere Therapeutics in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.62.

Insider Activity at Travere Therapeutics

In other news, insider Jula Inrig sold 2,066 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $19.10, for a total value of $39,460.60. Following the completion of the transaction, the insider now directly owns 59,883 shares in the company, valued at approximately $1,143,765.30. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher R. Cline sold 5,192 shares of Travere Therapeutics stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $20.12, for a total transaction of $104,463.04. Following the sale, the chief financial officer now directly owns 90,038 shares in the company, valued at $1,811,564.56. This trade represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 191,335 shares of company stock worth $4,194,712. 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.