Brevan Howard Capital Management LP Cuts Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Brevan Howard Capital Management LP lowered its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 49.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 30,953 shares of the company's stock after selling 30,742 shares during the quarter. Brevan Howard Capital Management LP's holdings in Travere Therapeutics were worth $539,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Summit Investment Advisors Inc. grew its holdings in shares of Travere Therapeutics by 9.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company's stock worth $138,000 after acquiring an additional 667 shares during the period. Sterling Capital Management LLC boosted its position in Travere Therapeutics by 859.8% in the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock worth $41,000 after purchasing an additional 2,115 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Travere Therapeutics by 2.2% during the 4th quarter. Rhumbline Advisers now owns 121,248 shares of the company's stock valued at $2,112,000 after purchasing an additional 2,640 shares during the period. Arizona State Retirement System grew its stake in shares of Travere Therapeutics by 13.5% during the 4th quarter. Arizona State Retirement System now owns 22,396 shares of the company's stock valued at $390,000 after purchasing an additional 2,666 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Travere Therapeutics during the 4th quarter valued at about $53,000.

Travere Therapeutics Price Performance

Shares of NASDAQ TVTX traded up $1.52 during mid-day trading on Monday, hitting $21.54. 1,325,309 shares of the company's stock traded hands, compared to its average volume of 1,533,731. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. Travere Therapeutics, Inc. has a 1 year low of $6.01 and a 1 year high of $25.29. The company's 50-day moving average is $18.11 and its two-hundred day moving average is $18.86. The company has a market capitalization of $1.91 billion, a P/E ratio of -5.25 and a beta of 0.88.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $81.73 million during the quarter, compared to analyst estimates of $77.44 million. During the same period in the previous year, the firm earned ($1.76) earnings per share. Travere Therapeutics's quarterly revenue was up 83.3% compared to the same quarter last year. On average, equities analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other news, CFO Christopher R. Cline sold 1,784 shares of Travere Therapeutics 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 $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 approximately $1,960,302.30. The trade was a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Peter Heerma sold 1,771 shares of the business'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 value of $37,279.55. Following the completion of the sale, the insider now owns 128,215 shares of the company's stock, valued at $2,698,925.75. The trade was a 1.36% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,420 shares of company stock worth $2,302,575. 4.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on TVTX. Canaccord Genuity Group upped their target price on shares of Travere Therapeutics from $45.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, April 10th. JPMorgan Chase & Co. lifted their target price on Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a research report on Friday, April 11th. Stifel Nicolaus lifted their price objective on Travere Therapeutics from $22.00 to $23.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. Finally, Citigroup increased their target price on shares of Travere Therapeutics from $31.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Travere Therapeutics has an average rating of "Moderate Buy" and a consensus 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.