Artia Global Partners LP Buys New Shares in Travere Therapeutics, Inc. $TVTX

Key Points

• Artia Global Partners acquired 339,033 shares of Travere Therapeutics worth approximately $19.26 million, making TVTX its eighth-largest portfolio holding and representing about 0.36% of the company.
• Travere reported quarterly revenue of $169.58 million, up 48.2% year over year and above estimates, while adjusted loss per share of $0.10 beat expectations of $0.13.
• Analysts remain broadly positive, with 10 Buy ratings and a consensus “Moderate Buy” rating; price targets were raised by several firms, including Citigroup to $85 and TD Cowen to $75.

Artia Global Partners LP purchased a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 339,033 shares of the company's stock, valued at approximately $19,260,000. Travere Therapeutics accounts for about 3.6% of Artia Global Partners LP's investment portfolio, making the stock its 8th largest position. Artia Global Partners LP owned approximately 0.36% of Travere Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in Travere Therapeutics during the second quarter worth about $33,000. GAMMA Investing LLC raised its holdings in Travere Therapeutics by 53.4% in the 2nd quarter. GAMMA Investing LLC now owns 606 shares of the company's stock valued at $34,000 after acquiring an additional 211 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of Travere Therapeutics in the 1st quarter worth approximately $35,000. State of Wyoming bought a new stake in shares of Travere Therapeutics in the 4th quarter worth approximately $37,000. Finally, Torren Management LLC acquired a new stake in shares of Travere Therapeutics during the 4th quarter worth approximately $38,000.

Travere Therapeutics Trading Up 0.2%

Shares of NASDAQ TVTX opened at $67.12 on Thursday. Travere Therapeutics, Inc. has a 1-year low of $17.05 and a 1-year high of $67.50. The company has a 50-day moving average of $58.88 and a two-hundred day moving average of $44.43. The company has a market cap of $6.33 billion, a PE ratio of -145.91 and a beta of 1.12. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.03. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The business had revenue of $169.58 million for the quarter, compared to analysts' expectations of $157.27 million. During the same period in the prior year, the firm earned $0.13 earnings per share. Travere Therapeutics's revenue was up 48.2% compared to the same quarter last year. As a group, equities analysts expect that Travere Therapeutics, Inc. will post -0.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TVTX has been the topic of several analyst reports. Piper Sandler reissued an "overweight" rating on shares of Travere Therapeutics in a report on Monday, August 17th. Wall Street Zen downgraded shares of Travere Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. TD Cowen upped their target price on shares of Travere Therapeutics from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Wells Fargo & Company upped their target price on shares of Travere Therapeutics from $50.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, June 12th. Finally, Citigroup raised their price target on shares of Travere Therapeutics from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Travere Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $61.67.

Insider Buying and Selling at Travere Therapeutics

In related news, Director Timothy Coughlin sold 10,000 shares of Travere Therapeutics stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $50.07, for a total value of $500,700.00. Following the completion of the sale, the director directly owned 56,250 shares in the company, valued at $2,816,437.50. This trade represents a 15.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy D. Baynes sold 4,500 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $50.00, for a total value of $225,000.00. Following the sale, the director directly owned 41,500 shares of the company's stock, valued at $2,075,000. This represents a 9.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.44% of the stock is currently owned by company insiders.

Travere Therapeutics Company Profile

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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