Millennium Management LLC Has $10.91 Million Stock Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Millennium Management LLC raised its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 446.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 626,056 shares of the company's stock after buying an additional 511,443 shares during the quarter. Millennium Management LLC owned 0.80% of Travere Therapeutics worth $10,906,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Driehaus Capital Management LLC grew its holdings in shares of Travere Therapeutics by 608.1% in the 4th quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company's stock worth $38,637,000 after purchasing an additional 1,904,733 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Travere Therapeutics in the 4th quarter worth about $21,075,000. RA Capital Management L.P. bought a new stake in shares of Travere Therapeutics in the 4th quarter worth about $20,033,000. Jennison Associates LLC acquired a new position in Travere Therapeutics during the 4th quarter worth about $14,222,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in Travere Therapeutics by 36.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company's stock worth $37,875,000 after buying an additional 583,836 shares in the last quarter.

Insider Transactions at Travere Therapeutics

In other news, CEO Eric M. Dube sold 18,924 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 419,173 shares of the company's stock, valued at approximately $8,823,591.65. This represents a 4.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Peter Heerma sold 1,771 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $37,279.55. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 22,527 shares of company stock valued at $473,814 in the last ninety days. 4.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TVTX. Guggenheim reiterated a "buy" rating and set a $47.00 price target on shares of Travere Therapeutics in a research report on Monday, April 14th. Cantor Fitzgerald restated an "overweight" rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a research report on Friday, April 11th. Citigroup restated a "buy" rating on shares of Travere Therapeutics in a research report on Friday, May 16th. Finally, Stifel Nicolaus upped their target price on shares of Travere Therapeutics from $22.00 to $23.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $31.79.

Travere Therapeutics Stock Down 3.2%

NASDAQ TVTX traded down $0.50 during trading hours on Tuesday, reaching $15.34. 1,767,144 shares of the company's stock were exchanged, compared to its average volume of 1,579,166. The company's 50-day moving average is $17.83 and its two-hundred day moving average is $18.85. Travere Therapeutics, Inc. has a one year low of $6.30 and a one year high of $25.29. 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 company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -3.74 and a beta of 0.88.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.08. The company had revenue of $81.73 million during the quarter, compared to analysts' expectations of $77.44 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The business's quarterly revenue was up 83.3% on a year-over-year basis. During the same period last year, the business earned ($1.76) EPS. On average, analysts forecast that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

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.