16,167 Shares in Travere Therapeutics, Inc. (NASDAQ:TVTX) Acquired by Algert Global LLC

Algert Global LLC bought a new position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 16,167 shares of the company's stock, valued at approximately $282,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC boosted its holdings in Travere Therapeutics by 859.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock valued at $41,000 after purchasing an additional 2,115 shares during the period. R Squared Ltd bought a new position in Travere Therapeutics in the 4th quarter valued at $53,000. Summit Investment Advisors Inc. boosted its holdings in Travere Therapeutics by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company's stock valued at $138,000 after purchasing an additional 667 shares during the period. Victory Capital Management Inc. bought a new position in Travere Therapeutics in the 4th quarter valued at $182,000. Finally, Baader Bank Aktiengesellschaft bought a new position in Travere Therapeutics in the 4th quarter valued at $192,000.

Travere Therapeutics Stock Performance

NASDAQ:TVTX traded down $4.35 during trading hours on Friday, hitting $16.80. 5,965,164 shares of the company were exchanged, compared to its average volume of 1,562,237. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -4.10 and a beta of 0.88. Travere Therapeutics, Inc. has a 52-week low of $6.01 and a 52-week high of $25.29. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The company's 50 day moving average price is $18.25 and its 200-day moving average price is $18.92.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.08. The company had revenue of $81.73 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.76) EPS. As a group, research analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Peter Heerma sold 1,771 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $37,279.55. Following the sale, the insider now directly owns 128,215 shares of the company's stock, valued at approximately $2,698,925.75. This represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Eric M. Dube sold 18,924 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $398,350.20. Following the sale, the chief executive officer now directly owns 419,173 shares in the company, valued at $8,823,591.65. This trade represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,527 shares of company stock valued at $473,814. Insiders own 4.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TVTX. Guggenheim reissued a "buy" rating and issued a $47.00 price target on shares of Travere Therapeutics in a report on Monday, April 14th. Stifel Nicolaus lifted their target price on shares of Travere Therapeutics from $22.00 to $23.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Citigroup lifted their target price on shares of Travere Therapeutics from $31.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Evercore ISI boosted their price objective on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $31.79.

About Travere Therapeutics

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.