Emerald Mutual Fund Advisers Trust Buys 20,112 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Emerald Mutual Fund Advisers Trust increased its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,121,886 shares of the company's stock after acquiring an additional 20,112 shares during the quarter. Travere Therapeutics makes up 1.4% of Emerald Mutual Fund Advisers Trust's investment portfolio, making the stock its 19th largest position. Emerald Mutual Fund Advisers Trust owned approximately 1.26% of Travere Therapeutics worth $20,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC purchased a new stake in Travere Therapeutics in the first quarter worth $182,000. Northern Trust Corp grew its stake in Travere Therapeutics by 11.3% in the fourth quarter. Northern Trust Corp now owns 754,395 shares of the company's stock worth $13,142,000 after purchasing an additional 76,358 shares during the period. Wellington Management Group LLP purchased a new stake in Travere Therapeutics in the fourth quarter worth $583,000. Swiss National Bank grew its stake in Travere Therapeutics by 12.8% in the fourth 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. Finally, GAMMA Investing LLC grew its stake in Travere Therapeutics by 5,072.9% in the first quarter. GAMMA Investing LLC now owns 10,501 shares of the company's stock worth $188,000 after purchasing an additional 10,298 shares during the period.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TVTX shares. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price target on shares of Travere Therapeutics in a research note on Tuesday, July 1st. Scotiabank reissued an "outperform" rating on shares of Travere Therapeutics in a report on Friday, April 11th. Wedbush reissued an "outperform" rating and issued a $30.00 target price on shares of Travere Therapeutics in a report on Friday, May 16th. Cantor Fitzgerald reissued an "overweight" rating on shares of Travere Therapeutics in a report on Wednesday, April 23rd. Finally, Bank of America boosted their target price on Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $32.14.

Travere Therapeutics Stock Performance

TVTX stock traded down $0.53 during trading on Tuesday, reaching $16.38. The stock had a trading volume of 991,896 shares, compared to its average volume of 1,614,967. Travere Therapeutics, Inc. has a 52 week low of $7.93 and a 52 week high of $25.29. The stock's 50 day moving average is $16.26 and its two-hundred day moving average is $18.09. The company has a current ratio of 2.05, a quick ratio of 2.03 and a debt-to-equity ratio of 9.46. The firm has a market cap of $1.45 billion, a PE ratio of -5.83 and a beta of 0.72.

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 return on equity of 1,179.73% and a negative net margin of 82.88%. The firm had revenue of $81.73 million for the quarter, compared to the consensus estimate of $77.44 million. During the same quarter last year, the company earned ($1.76) earnings per share. The business's revenue for the quarter was up 83.3% compared to the same quarter last year. As a group, equities analysts anticipate that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Eric M. Dube sold 18,924 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $398,350.20. Following the completion of the sale, the chief executive officer owned 419,173 shares in the company, valued at approximately $8,823,591.65. This trade represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the insider owned 128,215 shares of the company's stock, valued at $2,698,925.75. This represents a 1.36% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,294 shares of company stock worth $485,123. 4.06% of the stock is owned by corporate insiders.

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.