Penserra Capital Management LLC Takes Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Penserra Capital Management LLC purchased a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 109,542 shares of the company's stock, valued at approximately $1,962,000. Penserra Capital Management LLC owned 0.12% of Travere Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of TVTX. Driehaus Capital Management LLC lifted its holdings in shares of Travere Therapeutics by 608.1% in the 4th quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company's stock worth $38,637,000 after buying an additional 1,904,733 shares during the period. BNP Paribas Financial Markets purchased a new stake in Travere Therapeutics in the fourth quarter worth about $21,075,000. RA Capital Management L.P. purchased a new stake in Travere Therapeutics in the fourth quarter worth about $20,033,000. Jacobs Levy Equity Management Inc. lifted its stake in Travere Therapeutics by 36.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company's stock worth $37,875,000 after acquiring an additional 583,836 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Travere Therapeutics by 28.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company's stock worth $41,974,000 after acquiring an additional 534,500 shares during the period.

Insider Buying and Selling

In other news, CFO Christopher R. Cline sold 1,784 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $37,553.20. Following the sale, the chief financial officer directly owned 93,126 shares in the company, valued at $1,960,302.30. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Heerma sold 1,771 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 value of $37,279.55. Following the completion of the sale, the insider directly owned 128,215 shares in the company, valued at approximately $2,698,925.75. The trade was a 1.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,294 shares of company stock valued at $485,123 over the last 90 days. Insiders own 4.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TVTX shares. Bank of America upped their price target on shares of Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Canaccord Genuity Group upped their target price on Travere Therapeutics from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, April 10th. Guggenheim restated a "buy" rating and set a $47.00 target price on shares of Travere Therapeutics in a report on Monday, April 14th. Cantor Fitzgerald restated an "overweight" rating on shares of Travere Therapeutics in a report on Wednesday, April 23rd. Finally, Citigroup decreased their price objective on Travere Therapeutics from $35.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, June 11th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $32.14.

Travere Therapeutics Stock Performance

TVTX stock traded down $0.08 during midday trading on Friday, reaching $16.47. The stock had a trading volume of 1,230,930 shares, compared to its average volume of 1,618,238. Travere Therapeutics, Inc. has a 52-week low of $7.93 and a 52-week high of $25.29. The stock has a market cap of $1.46 billion, a PE ratio of -5.86 and a beta of 0.72. The company has a debt-to-equity ratio of 9.46, a quick ratio of 2.03 and a current ratio of 2.05. The firm has a fifty day simple moving average of $16.26 and a two-hundred day simple moving average of $18.09.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.55) by $0.08. Travere Therapeutics had a negative net margin of 82.88% and a negative return on equity of 1,179.73%. The company had revenue of $81.73 million during the quarter, compared to analyst estimates of $77.44 million. During the same period last year, the firm posted ($1.76) EPS. Travere Therapeutics's revenue for the quarter was up 83.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

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.