Perceptive Advisors LLC Has $163.47 Million Stock Holdings in Travere Therapeutics, Inc. $TVTX

Key Points

• Perceptive Advisors increased its stake in Travere Therapeutics by 12.7% in the fourth quarter, ending with 4.28 million shares worth about $163.5 million. The position represents roughly 4.78% of the company and is the fund’s 8th-largest holding.
• Analyst sentiment remains broadly positive, with Travere Therapeutics carrying a Moderate Buy consensus and a target price of $50.83. Recent updates included higher targets from Citigroup and Wells Fargo, though some firms issued downgrades.
• The company reported quarterly earnings of $0.05 per share, beating expectations, while revenue rose 55.6% year over year to $127.2 million. Shares recently traded near their 52-week high at $54.14.

Perceptive Advisors LLC raised its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 12.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,278,180 shares of the company's stock after purchasing an additional 483,565 shares during the period. Travere Therapeutics makes up about 2.9% of Perceptive Advisors LLC's portfolio, making the stock its 8th largest holding. Perceptive Advisors LLC owned approximately 4.78% of Travere Therapeutics worth $163,469,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Travere Therapeutics during the 2nd quarter worth approximately $33,000. State of Wyoming bought a new stake in shares of Travere Therapeutics during the 4th quarter worth approximately $37,000. Torren Management LLC bought a new stake in shares of Travere Therapeutics during the 4th quarter worth approximately $38,000. Comerica Bank lifted its holdings in shares of Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company's stock worth $43,000 after acquiring an additional 492 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Travere Therapeutics by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company's stock worth $45,000 after acquiring an additional 487 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings raised shares of Travere Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, May 21st. Citigroup upped their price target on shares of Travere Therapeutics from $62.00 to $70.00 and gave the stock a "buy" rating in a report on Monday. Wells Fargo & Company upped their price target on shares of Travere Therapeutics from $50.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. JPMorgan Chase & Co. cut their price target on shares of Travere Therapeutics from $44.00 to $41.00 and set an "overweight" rating for the company in a report on Wednesday, March 25th. Finally, Wall Street Zen downgraded shares of Travere Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Travere Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $50.83.

Insiders Place Their Bets

In related news, insider Jula Inrig sold 20,000 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $45.00, for a total value of $900,000.00. Following the completion of the transaction, the insider owned 111,473 shares of the company's stock, valued at $5,016,285. This represents a 15.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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. Also, insider Elizabeth E. Reed sold 44,715 shares of the stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $41.21, for a total transaction of $1,842,705.15. Following the completion of the transaction, the insider directly owned 111,996 shares of the company's stock, valued at approximately $4,615,355.16. The trade was a 28.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold 404,515 shares of company stock worth $16,340,228 over the last 90 days. Insiders own 4.44% of the company's stock.

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX opened at $54.14 on Thursday. The company has a market cap of $5.03 billion, a price-to-earnings ratio of -235.38 and a beta of 1.13. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08. The firm has a 50 day simple moving average of $43.07 and a 200 day simple moving average of $35.63. Travere Therapeutics, Inc. has a one year low of $13.88 and a one year high of $55.11.

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

About Travere Therapeutics

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.

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