Algert Global LLC Takes Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Summit Investment Advisors Inc. boosted its holdings in Travere Therapeutics by 9.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company's stock worth $138,000 after buying an additional 667 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Travere Therapeutics by 859.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock worth $41,000 after buying an additional 2,115 shares in the last quarter. Rhumbline Advisers boosted its holdings in Travere Therapeutics by 2.2% during the fourth quarter. Rhumbline Advisers now owns 121,248 shares of the company's stock worth $2,112,000 after buying an additional 2,640 shares in the last quarter. Arizona State Retirement System boosted its holdings in Travere Therapeutics by 13.5% during the fourth quarter. Arizona State Retirement System now owns 22,396 shares of the company's stock worth $390,000 after buying an additional 2,666 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Travere Therapeutics during the fourth quarter worth about $53,000.

Analyst Ratings Changes

Several brokerages have issued reports on TVTX. Guggenheim reaffirmed a "buy" rating and issued a $47.00 price target on shares of Travere Therapeutics in a report on Monday, April 14th. Cantor Fitzgerald reissued an "overweight" rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. Citigroup boosted their price objective on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a "buy" rating in a research report on Monday, February 24th. Scotiabank reissued an "outperform" rating on shares of Travere Therapeutics in a research report on Friday, April 11th. Finally, 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. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $31.79.

Travere Therapeutics Trading Down 20.6%

TVTX stock traded down $4.35 on Friday, hitting $16.80. 5,965,164 shares of the company were exchanged, compared to its average volume of 1,561,274. Travere Therapeutics, Inc. has a twelve month low of $6.01 and a twelve month 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 business's fifty day moving average is $18.25 and its two-hundred day moving average is $18.90. 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 (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.08. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The firm had revenue of $81.73 million during the quarter, compared to analyst estimates of $77.44 million. During the same quarter in the prior year, the business posted ($1.76) earnings per share. Travere Therapeutics's revenue for the quarter was up 83.3% compared to the same quarter last year. As a group, research analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Insider Transactions at Travere Therapeutics

In other news, CFO Christopher R. Cline sold 1,784 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 value of $37,553.20. Following the completion of the sale, the chief financial officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 completion of the sale, the chief executive officer now directly owns 419,173 shares of the company's stock, valued at $8,823,591.65. The trade was a 4.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,527 shares of company stock valued at $473,814 over the last 90 days. Corporate insiders own 4.19% 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.