Schonfeld Strategic Advisors LLC Trims Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Schonfeld Strategic Advisors LLC lessened its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 86.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 23,000 shares of the company’s stock after selling 152,820 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Travere Therapeutics were worth $401,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in TVTX. Summit Investment Advisors Inc. grew its holdings in Travere Therapeutics by 9.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company’s stock worth $138,000 after acquiring an additional 667 shares in the last quarter. Sterling Capital Management LLC grew its holdings in Travere Therapeutics by 859.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock worth $41,000 after acquiring an additional 2,115 shares in the last quarter. Rhumbline Advisers grew its holdings in Travere Therapeutics by 2.2% during the 4th quarter. Rhumbline Advisers now owns 121,248 shares of the company’s stock worth $2,112,000 after acquiring an additional 2,640 shares in the last quarter. Arizona State Retirement System grew its holdings in Travere Therapeutics by 13.5% during the 4th quarter. Arizona State Retirement System now owns 22,396 shares of the company’s stock worth $390,000 after acquiring an additional 2,666 shares in the last quarter. Finally, R Squared Ltd bought a new position in Travere Therapeutics during the 4th quarter worth about $53,000.

Travere Therapeutics Stock Performance

Shares of Travere Therapeutics stock opened at $20.02 on Monday. The firm has a market capitalization of $1.78 billion, a P/E ratio of -4.88 and a beta of 0.88. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The company has a 50 day moving average price of $18.07 and a 200 day moving average price of $18.83. Travere Therapeutics, Inc. has a 52 week low of $6.01 and a 52 week high of $25.29.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.08. The firm had revenue of $81.73 million during the quarter, compared to analyst estimates of $77.44 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. Travere Therapeutics’s revenue was up 83.3% on a year-over-year basis. During the same period last year, the firm posted ($1.76) EPS. Sell-side analysts expect that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on TVTX. Bank of America increased their target price on shares of Travere Therapeutics from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. Guggenheim restated a “buy” rating and issued a $47.00 price target on shares of Travere Therapeutics in a report on Monday, April 14th. JPMorgan Chase & Co. raised their price target on shares of Travere Therapeutics from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Wedbush restated an “outperform” rating and issued a $30.00 price target on shares of Travere Therapeutics in a report on Friday, May 2nd. Finally, Citigroup raised their price target on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Travere Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $31.79.

Insiders Place Their Bets

In other Travere Therapeutics news, CEO Eric M. Dube sold 18,924 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $398,350.20. Following the completion of the transaction, the chief executive officer now directly owns 419,173 shares of the company’s stock, valued at approximately $8,823,591.65. This trade represents a 4.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Christopher R. Cline sold 1,784 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $37,553.20. Following the transaction, the chief financial officer now directly owns 93,126 shares of the company’s stock, valued at $1,960,302.30. This represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,420 shares of company stock valued at $2,302,575. 4.19% of the stock is owned by insiders.

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.