Artia Global Partners LP Buys 39,800 Shares of Travere Therapeutics, Inc. $TVTX

Key Points

• Artia Global Partners LP boosted its Travere Therapeutics stake by 128.8% in the fourth quarter, buying 39,800 additional shares and bringing its total to 70,700 shares worth about $2.7 million.
• Insider selling picked up, with director Roy D. Baynes and CEO Eric M. Dube both selling shares in April under pre-arranged 10b5-1 plans; insiders sold 404,515 shares worth $16.34 million over the last three months.
• Travere Therapeutics beat earnings expectations for the quarter, reporting $0.05 EPS versus the expected loss, while revenue rose 55.6% year over year to $127.2 million, and analysts currently rate the stock a “Moderate Buy” with an average target price of $50.83.

Artia Global Partners LP increased its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 128.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,700 shares of the company's stock after acquiring an additional 39,800 shares during the period. Artia Global Partners LP owned about 0.08% of Travere Therapeutics worth $2,701,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TVTX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Travere Therapeutics by 13.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,777 shares of the company's stock valued at $1,029,000 after acquiring an additional 6,831 shares during the last quarter. Norges Bank bought a new stake in shares of Travere Therapeutics in the 2nd quarter valued at about $1,051,000. First Trust Advisors LP bought a new stake in shares of Travere Therapeutics in the 2nd quarter valued at about $3,538,000. Cresset Asset Management LLC lifted its stake in shares of Travere Therapeutics by 26.5% in the 2nd quarter. Cresset Asset Management LLC now owns 28,875 shares of the company's stock valued at $427,000 after acquiring an additional 6,047 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in shares of Travere Therapeutics by 106.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 604,128 shares of the company's stock valued at $8,941,000 after acquiring an additional 311,137 shares during the last quarter.

Insider Activity

In other Travere Therapeutics news, Director Roy D. Baynes sold 32,750 shares of the company's stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $41.29, for a total transaction of $1,352,247.50. Following the transaction, the director owned 37,500 shares in the company, valued at approximately $1,548,375. This represents a 46.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric M. Dube sold 64,000 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $41.09, for a total value of $2,629,760.00. Following the transaction, the chief executive officer owned 432,886 shares in the company, valued at $17,787,285.74. This trade represents a 12.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 404,515 shares of company stock worth $16,340,228. Company insiders own 4.44% of the company's stock.

Travere Therapeutics Stock Up 1.4%

Shares of NASDAQ:TVTX opened at $54.14 on Thursday. Travere Therapeutics, Inc. has a 1 year low of $13.88 and a 1 year high of $55.11. The company has a market cap of $5.03 billion, a PE ratio of -235.38 and a beta of 1.13. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08. The stock's 50-day moving average is $43.07 and its 200 day moving average is $35.63.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.24) by $0.29. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The company had revenue of $127.20 million for the quarter, compared to the consensus estimate of $136.23 million. During the same quarter in the previous year, the business earned ($0.47) EPS. Travere Therapeutics's revenue was up 55.6% compared to the same quarter last year. Sell-side analysts anticipate that Travere Therapeutics, Inc. will post -0.29 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TVTX. Canaccord Genuity Group boosted their target price on Travere Therapeutics from $47.00 to $56.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. Piper Sandler upgraded Travere Therapeutics from a "neutral" rating to an "overweight" rating and set a $49.00 price target on the stock in a report on Tuesday, April 14th. Weiss Ratings upgraded Travere Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, May 21st. Wall Street Zen downgraded Travere Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Wedbush restated an "outperform" rating and set a $55.00 price target on shares of Travere Therapeutics in a report on Wednesday, June 3rd. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Travere Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $50.83.

About Travere Therapeutics

Travere Therapeutics, Inc NASDAQ: TVTX is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company's mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company's lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.

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