Public Employees Retirement System of Ohio Purchases 51,876 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Public Employees Retirement System of Ohio lifted its position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 102.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 102,756 shares of the company's stock after acquiring an additional 51,876 shares during the period. Public Employees Retirement System of Ohio owned about 0.13% of Travere Therapeutics worth $1,790,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TVTX. Driehaus Capital Management LLC lifted its stake in Travere Therapeutics by 608.1% in the fourth quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company's stock valued at $38,637,000 after acquiring an additional 1,904,733 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Travere Therapeutics in the fourth quarter valued at approximately $21,075,000. RA Capital Management L.P. acquired a new stake in Travere Therapeutics in the fourth quarter valued at approximately $20,033,000. Jennison Associates LLC acquired a new stake in Travere Therapeutics in the fourth quarter valued at approximately $14,222,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Travere Therapeutics by 36.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company's stock valued at $37,875,000 after acquiring an additional 583,836 shares during the last quarter.

Insiders Place Their Bets

In other Travere Therapeutics news, insider Peter Heerma sold 1,771 shares of the business's stock in a transaction 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 sale, the insider now directly owns 128,215 shares of the company's stock, valued at approximately $2,698,925.75. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric M. Dube sold 18,924 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 419,173 shares of the company's stock, valued at $8,823,591.65. This represents a 4.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,527 shares of company stock valued at $473,814 in the last ninety days. Company insiders own 4.06% of the company's stock.

Travere Therapeutics Price Performance

NASDAQ TVTX traded down $0.50 during trading hours on Thursday, hitting $14.72. The company had a trading volume of 1,097,450 shares, compared to its average volume of 1,590,470. Travere Therapeutics, Inc. has a 52 week low of $6.80 and a 52 week high of $25.29. The firm has a 50 day simple moving average of $17.01 and a 200 day simple moving average of $18.67. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -3.59 and a beta of 0.75.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.47) earnings per share for the quarter, beating analysts' consensus estimates of ($0.55) by $0.08. The company had revenue of $81.73 million for the quarter, compared to analysts' expectations of $77.44 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. Travere Therapeutics's revenue for the quarter was up 83.3% compared to the same quarter last year. During the same period last year, the firm posted ($1.76) EPS. Equities research analysts expect that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Wall Street Analyst Weigh In

TVTX has been the subject of a number of analyst reports. Canaccord Genuity Group boosted their price objective on shares of Travere Therapeutics from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday, April 10th. Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a research note on Friday, April 11th. Wedbush restated an "outperform" rating and issued a $30.00 price objective on shares of Travere Therapeutics in a research note on Friday, May 16th. Stifel Nicolaus boosted their price objective on shares of Travere Therapeutics from $22.00 to $23.00 and gave the stock a "hold" rating in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Travere Therapeutics from $42.00 to $44.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $31.79.

Travere Therapeutics Company 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.