Geode Capital Management LLC Buys 111,256 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Geode Capital Management LLC raised its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 6.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,842,301 shares of the company’s stock after purchasing an additional 111,256 shares during the quarter. Geode Capital Management LLC’s holdings in Travere Therapeutics were worth $32,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the stock. Franklin Resources Inc. purchased a new stake in shares of Travere Therapeutics during the 4th quarter valued at approximately $631,000. Wellington Management Group LLP bought a new stake in Travere Therapeutics in the 4th quarter worth approximately $583,000. Norges Bank bought a new stake in Travere Therapeutics in the fourth quarter worth $1,237,000. EntryPoint Capital LLC bought a new stake in Travere Therapeutics in the fourth quarter valued at approximately $359,000. Finally, Prudential Financial Inc. grew its holdings in Travere Therapeutics by 60.5% in the 4th quarter. Prudential Financial Inc. now owns 969,141 shares of the company’s stock worth $16,882,000 after acquiring an additional 365,200 shares during the last quarter.

Insider Activity at Travere Therapeutics

In related news, insider Peter Heerma sold 1,584 shares of Travere Therapeutics stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $18.94, for a total value of $30,000.96. Following the completion of the sale, the insider now directly owns 106,374 shares in the company, valued at $2,014,723.56. This trade represents a 1.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sandra Calvin sold 54,244 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 54,410 shares of the company’s stock, valued at $1,360,250. This trade represents a 49.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 188,877 shares of company stock worth $4,147,627 over the last three months. 3.75% of the stock is owned by corporate insiders.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock opened at $14.57 on Thursday. Travere Therapeutics, Inc. has a one year low of $5.12 and a one year high of $25.29. 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 50 day moving average price of $19.19 and a 200-day moving average price of $18.54. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -3.55 and a beta of 0.84.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) 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 company had revenue of $74.79 million during the quarter, compared to the consensus estimate of $72.38 million. Equities analysts expect that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Canaccord Genuity Group lifted their price objective on Travere Therapeutics from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, April 10th. HC Wainwright raised their price target on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Travere Therapeutics in a research note on Thursday, April 3rd. JPMorgan Chase & Co. upped their price target on Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Finally, Evercore ISI increased their price target on Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.08.

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.