KLP Kapitalforvaltning AS Makes New $261,000 Investment in Travere Therapeutics, Inc. (NASDAQ:TVTX)

KLP Kapitalforvaltning AS bought a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 15,000 shares of the company’s stock, valued at approximately $261,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. R Squared Ltd purchased a new position in shares of Travere Therapeutics in the 4th quarter valued at about $53,000. Quarry LP acquired a new stake in Travere Therapeutics in the third quarter valued at approximately $105,000. Victory Capital Management Inc. purchased a new position in Travere Therapeutics in the fourth quarter worth approximately $182,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Travere Therapeutics in the 4th quarter valued at approximately $192,000. Finally, Entropy Technologies LP purchased a new stake in shares of Travere Therapeutics in the 4th quarter valued at approximately $214,000.

Travere Therapeutics Price Performance

Shares of TVTX opened at $14.99 on Monday. The firm has a 50-day simple moving average of $20.48 and a 200-day simple moving average of $18.64. 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 company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -3.66 and a beta of 0.84. Travere Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $25.29.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. On average, equities research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Insider Buying and Selling at Travere Therapeutics

In related news, CAO Sandra Calvin sold 54,244 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total value of $1,356,100.00. Following the sale, the chief accounting officer now owns 54,410 shares in the company, valued at $1,360,250. This represents a 49.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Eric M. Dube sold 11,375 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $24.04, for a total value of $273,455.00. Following the sale, the chief executive officer now owns 419,173 shares in the company, valued at approximately $10,076,918.92. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 188,829 shares of company stock valued at $4,146,997. 3.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TVTX. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Travere Therapeutics in a research report on Thursday. Canaccord Genuity Group upped their price objective on Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Citigroup raised their target price on Travere Therapeutics from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. JPMorgan Chase & Co. increased their price target on shares of Travere Therapeutics from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Evercore ISI raised their price objective on shares of Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.46.

Travere Therapeutics Company 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.