Emerald Advisers LLC Cuts Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Emerald Advisers LLC lowered its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,077,173 shares of the company's stock after selling 48,571 shares during the quarter. Travere Therapeutics accounts for approximately 1.7% of Emerald Advisers LLC's investment portfolio, making the stock its 11th biggest holding. Emerald Advisers LLC owned 2.34% of Travere Therapeutics worth $37,223,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TVTX. Bank of New York Mellon Corp lifted its position in shares of Travere Therapeutics by 3.6% during the 4th quarter. Bank of New York Mellon Corp now owns 216,863 shares of the company's stock worth $3,778,000 after buying an additional 7,513 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Travere Therapeutics by 16.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 661,603 shares of the company's stock worth $11,525,000 after purchasing an additional 94,194 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Travere Therapeutics in the 4th quarter worth approximately $182,000. Arizona State Retirement System raised its holdings in shares of Travere Therapeutics by 13.5% in the 4th quarter. Arizona State Retirement System now owns 22,396 shares of the company's stock worth $390,000 after purchasing an additional 2,666 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Travere Therapeutics by 12.8% in the 4th quarter. Swiss National Bank now owns 151,900 shares of the company's stock worth $2,646,000 after purchasing an additional 17,200 shares during the period.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Bank of America lifted their price target on shares of Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Canaccord Genuity Group lifted their price target on shares of Travere Therapeutics from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, April 10th. Stifel Nicolaus lifted their price target on shares of Travere Therapeutics from $22.00 to $23.00 and gave the stock a "hold" rating in a report on Friday, May 2nd. Wedbush reaffirmed an "outperform" rating and issued a $30.00 price target on shares of Travere Therapeutics in a report on Friday, May 16th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Travere Therapeutics in a report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Travere Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $32.14.

Travere Therapeutics Price Performance

Shares of TVTX traded up $0.28 during mid-day trading on Wednesday, reaching $16.66. 892,568 shares of the stock traded hands, compared to its average volume of 1,612,418. The firm has a fifty day moving average price of $16.03 and a 200 day moving average price of $18.07. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -5.93 and a beta of 0.72. The company has a current ratio of 2.05, a quick ratio of 2.03 and a debt-to-equity ratio of 9.46. Travere Therapeutics, Inc. has a 1 year low of $7.93 and a 1 year high of $25.29.

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

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.