SG Americas Securities LLC Increases Stock Holdings in Travere Therapeutics, Inc. $TVTX

Key Points

• SG Americas Securities LLC increased its stake in Travere Therapeutics by 60.4% in the first quarter, ending with 54,691 shares worth about $1.63 million.
• Two directors sold shares in June: Roy D. Baynes sold 4,500 shares and Timothy Coughlin sold 10,000 shares, with insiders selling 334,515 shares over the past three months.
• Analysts remain generally positive on TVTX, with a Moderate Buy consensus and an average price target of $52.08; the stock recently traded at $56.90 after reporting better-than-expected quarterly EPS.

SG Americas Securities LLC boosted its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 60.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 54,691 shares of the company's stock after acquiring an additional 20,591 shares during the quarter. SG Americas Securities LLC owned 0.06% of Travere Therapeutics worth $1,625,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State of Wyoming purchased a new position in Travere Therapeutics during the fourth quarter valued at $37,000. Torren Management LLC purchased a new stake in shares of Travere Therapeutics during the fourth quarter worth about $38,000. Comerica Bank increased its stake in shares of Travere Therapeutics by 77.5% during the fourth quarter. Comerica Bank now owns 1,127 shares of the company's stock worth $43,000 after purchasing an additional 492 shares in the last quarter. Smartleaf Asset Management LLC raised its position 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 purchasing an additional 487 shares during the last quarter. Finally, Garner Asset Management Corp purchased a new position in Travere Therapeutics in the 4th quarter valued at about $69,000.

Insider Buying and Selling

In related news, Director Roy D. Baynes sold 4,500 shares of the business's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.00, for a total value of $225,000.00. Following the sale, the director directly owned 41,500 shares in the company, valued at approximately $2,075,000. The trade was a 9.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.07, for a total transaction of $500,700.00. Following the completion of the transaction, the director directly owned 56,250 shares in the company, valued at $2,816,437.50. The trade was a 15.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 334,515 shares of company stock valued at $14,184,428. 4.44% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TVTX has been the subject of several research reports. Guggenheim boosted their price objective on Travere Therapeutics from $56.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, June 25th. Canaccord Genuity Group raised their target price on Travere Therapeutics from $47.00 to $56.00 and gave the company a "buy" rating in a research report on Tuesday, April 14th. JPMorgan Chase & Co. lowered their price target on Travere Therapeutics from $44.00 to $41.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 25th. Wall Street Zen cut Travere Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Piper Sandler raised Travere Therapeutics from a "neutral" rating to an "overweight" rating and set a $49.00 price objective for the company in a research note on Tuesday, April 14th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Travere Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $52.08.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $56.90 on Friday. The company's 50-day moving average is $47.64 and its two-hundred day moving average is $37.33. Travere Therapeutics, Inc. has a 1-year low of $14.44 and a 1-year high of $60.10. 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 market capitalization of $5.29 billion, a price-to-earnings ratio of -247.38 and a beta of 1.10.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.24) by $0.29. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The business had revenue of $127.20 million during the quarter, compared to the consensus estimate of $136.23 million. During the same quarter last year, the firm earned ($0.47) EPS. The business's revenue was up 55.6% compared to the same quarter last year. Analysts forecast that Travere Therapeutics, Inc. will post -0.25 EPS for the current 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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