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

Emerald Mutual Fund Advisers Trust raised its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 1.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,121,886 shares of the company's stock after purchasing an additional 20,112 shares during the period. Travere Therapeutics accounts for about 1.4% of Emerald Mutual Fund Advisers Trust's investment portfolio, making the stock its 19th biggest holding. Emerald Mutual Fund Advisers Trust owned approximately 1.26% of Travere Therapeutics worth $20,104,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Summit Investment Advisors Inc. boosted its stake in shares of Travere Therapeutics by 9.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company's stock worth $138,000 after acquiring an additional 667 shares during the period. Diversified Trust Co boosted its stake in shares of Travere Therapeutics by 8.6% in the first quarter. Diversified Trust Co now owns 15,959 shares of the company's stock worth $286,000 after acquiring an additional 1,258 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Travere Therapeutics in the fourth quarter worth about $31,000. Sterling Capital Management LLC boosted its stake in shares of Travere Therapeutics by 859.8% in the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock worth $41,000 after acquiring an additional 2,115 shares during the period. Finally, Arizona State Retirement System boosted its stake in shares of Travere Therapeutics by 13.5% in the fourth quarter. Arizona State Retirement System now owns 22,396 shares of the company's stock worth $390,000 after acquiring an additional 2,666 shares during the period.

Insider Buying and Selling

In related news, CEO Eric M. Dube sold 18,924 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $398,350.20. Following the transaction, the chief executive officer owned 419,173 shares of the company's stock, valued at $8,823,591.65. This represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Peter Heerma sold 1,771 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $37,279.55. Following the completion of the transaction, the insider directly owned 128,215 shares in the company, valued at approximately $2,698,925.75. This trade represents a 1.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,294 shares of company stock valued at $485,123 over the last quarter. 4.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TVTX has been the subject of a number of recent analyst reports. Canaccord Genuity Group upped their price objective on Travere Therapeutics from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday, April 10th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. Guggenheim reiterated a "buy" rating and issued a $47.00 target price on shares of Travere Therapeutics in a research report on Monday, April 14th. HC Wainwright reiterated a "buy" rating and issued a $30.00 target price on shares of Travere Therapeutics in a research report on Tuesday, July 1st. 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 research report on Tuesday, April 1st. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $32.14.

Travere Therapeutics Trading Down 0.5%

Shares of TVTX stock traded down $0.08 on Friday, reaching $16.47. 1,230,930 shares of the company's stock were exchanged, 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 company has a current ratio of 2.05, a quick ratio of 2.03 and a debt-to-equity ratio of 9.46. The stock has a market capitalization of $1.46 billion, a PE ratio of -5.86 and a beta of 0.72. The company's fifty day simple moving average is $16.26 and its 200 day simple moving average is $18.09.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued 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 return on equity of 1,179.73% and a negative net margin of 82.88%. The firm had revenue of $81.73 million during the quarter, compared to analyst estimates of $77.44 million. During the same period last year, the company earned ($1.76) EPS. Travere Therapeutics's quarterly revenue was up 83.3% compared to the same quarter last year. As a group, analysts forecast that Travere Therapeutics, Inc. will post -1.4 EPS 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.