Militia Capital Management LLC Invests $882,000 in Travere Therapeutics, Inc. $TVTX

Key Points

• Militia Capital Management opened a new position in Travere Therapeutics during the first quarter, buying 29,700 shares valued at about $882,000.
• Analyst sentiment remains constructive overall: multiple firms raised targets or issued buy/overweight ratings, and the stock currently carries a Moderate Buy consensus with a $52.08 average price target.
• Travere’s latest quarter beat EPS expectations, posting $0.05 EPS versus an expected loss, while revenue rose 55.6% year over year to $127.2 million; however, insiders, including CEO Eric M. Dube, recently sold shares under pre-arranged trading plans.

Militia Capital Management LLC bought a new position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 29,700 shares of the company's stock, valued at approximately $882,000.

Several other institutional investors and hedge funds also recently bought and sold shares of TVTX. State Street Corp grew its holdings in Travere Therapeutics by 47.8% during the fourth quarter. State Street Corp now owns 4,756,666 shares of the company's stock valued at $181,752,000 after purchasing an additional 1,538,827 shares during the period. Wellington Management Group LLP raised its stake in shares of Travere Therapeutics by 3,331.9% in the third quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company's stock worth $28,715,000 after buying an additional 1,166,460 shares during the period. Fiera Capital Corp bought a new position in shares of Travere Therapeutics in the fourth quarter worth about $33,398,000. Perceptive Advisors LLC purchased a new position in shares of Travere Therapeutics during the 2nd quarter valued at about $12,347,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Travere Therapeutics during the 2nd quarter valued at approximately $10,348,000.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TVTX. Wall Street Zen lowered shares of Travere Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. HC Wainwright upped their price target on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a "buy" rating in a research report on Tuesday, June 2nd. Weiss Ratings lowered shares of Travere Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, June 23rd. Guggenheim increased their price objective on shares of Travere Therapeutics from $56.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, June 25th. Finally, Piper Sandler upgraded shares of Travere Therapeutics from a "neutral" rating to an "overweight" rating and set a $49.00 price objective on the stock in a research report on Tuesday, April 14th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $52.08.

Insider Transactions at Travere Therapeutics

In other news, CEO Eric M. Dube sold 22,500 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $43.95, for a total transaction of $988,875.00. Following the transaction, the chief executive officer owned 432,886 shares of the company's stock, valued at approximately $19,025,339.70. The trade was a 4.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth E. Reed sold 2,076 shares of the firm's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $43.95, for a total value of $91,240.20. Following the completion of the sale, the insider owned 105,211 shares of the company's stock, valued at approximately $4,624,023.45. This represents a 1.93% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 113,413 shares of company stock worth $5,161,607. 4.44% of the stock is currently owned by corporate insiders.

Travere Therapeutics Trading Up 0.7%

Shares of Travere Therapeutics stock opened at $56.68 on Friday. The business has a 50-day moving average price of $51.99 and a 200-day moving average price of $39.40. Travere Therapeutics, Inc. has a twelve month low of $15.03 and a twelve month high of $60.10. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of -246.42 and a beta of 1.10. The company has a quick ratio of 3.08, a current ratio of 3.13 and a debt-to-equity ratio of 3.16.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.29. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The business had revenue of $127.20 million for the quarter, compared to analysts' expectations of $136.23 million. During the same period in the prior year, the firm earned ($0.47) EPS. The company's revenue for the quarter was up 55.6% on a year-over-year basis. Equities research analysts anticipate that Travere Therapeutics, Inc. will post -0.31 EPS for the current fiscal year.

Travere Therapeutics 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.