150,286 Shares in Travere Therapeutics, Inc. (NASDAQ:TVTX) Acquired by Informed Momentum Co LLC

Key Points

• Informed Momentum Co LLC invested approximately $2.69 million in Travere Therapeutics, acquiring 150,286 shares during the first quarter.
• The stock of Travere Therapeutics (NASDAQ:TVTX) has seen significant insider activity, with several hedge funds increasing their stakes, indicating growing confidence in the company.
• Travere Therapeutics reported a 111.5% increase in revenue year-over-year, although it posted a negative earnings per share (EPS) of ($0.14) for the quarter.

Informed Momentum Co LLC acquired a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 150,286 shares of the company's stock, valued at approximately $2,693,000. Informed Momentum Co LLC owned 0.17% of Travere Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP purchased a new stake in Travere Therapeutics during the 4th quarter worth about $583,000. Franklin Resources Inc. purchased a new position in shares of Travere Therapeutics during the 4th quarter worth $631,000. Geode Capital Management LLC increased its holdings in shares of Travere Therapeutics by 6.4% during the 4th quarter. Geode Capital Management LLC now owns 1,842,301 shares of the company's stock worth $32,100,000 after buying an additional 111,256 shares during the last quarter. Invesco Ltd. increased its holdings in Travere Therapeutics by 135.2% in the 4th quarter. Invesco Ltd. now owns 858,942 shares of the company's stock valued at $14,963,000 after purchasing an additional 493,736 shares in the last quarter. Finally, Sterling Capital Management LLC increased its holdings in Travere Therapeutics by 859.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock valued at $41,000 after purchasing an additional 2,115 shares in the last quarter.

Travere Therapeutics Price Performance

TVTX stock traded up $0.59 on Friday, reaching $18.82. 1,617,897 shares of the company's stock were exchanged, compared to its average volume of 1,648,937. The stock has a fifty day moving average of $15.66 and a 200-day moving average of $17.73. The company has a quick ratio of 1.98, a current ratio of 2.00 and a debt-to-equity ratio of 9.50. The firm has a market cap of $1.68 billion, a PE ratio of -9.23 and a beta of 0.74. Travere Therapeutics, Inc. has a twelve month low of $8.46 and a twelve month high of $25.29.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.28) by $0.14. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%. The business had revenue of $94.84 million during the quarter, compared to analyst estimates of $100.18 million. During the same quarter last year, the firm earned ($0.65) earnings per share. The company's revenue for the quarter was up 111.5% compared to the same quarter last year. As a group, equities analysts predict that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wedbush increased their price target on shares of Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Stifel Nicolaus lifted their price objective on shares of Travere Therapeutics from $22.00 to $23.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. HC Wainwright restated a "buy" rating and set a $30.00 price objective on shares of Travere Therapeutics in a report on Tuesday, July 1st. Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. Finally, Citigroup restated a "buy" rating on shares of Travere Therapeutics in a report on Sunday, August 10th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $32.21.

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.