Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock Holdings Lifted by Voloridge Investment Management LLC

Voloridge Investment Management LLC lifted its position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 33.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,007,197 shares of the company's stock after acquiring an additional 253,402 shares during the period. Voloridge Investment Management LLC owned about 1.29% of Travere Therapeutics worth $17,545,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Twinbeech Capital LP purchased a new position in Travere Therapeutics during the fourth quarter valued at approximately $177,000. Two Sigma Advisers LP grew its position in Travere Therapeutics by 34.3% during the fourth quarter. Two Sigma Advisers LP now owns 967,500 shares of the company's stock valued at $16,854,000 after purchasing an additional 247,100 shares in the last quarter. Two Sigma Investments LP grew its position in Travere Therapeutics by 92.5% during the fourth quarter. Two Sigma Investments LP now owns 693,016 shares of the company's stock valued at $12,072,000 after purchasing an additional 332,933 shares in the last quarter. Sphera Funds Management LTD. grew its position in Travere Therapeutics by 29.3% during the fourth quarter. Sphera Funds Management LTD. now owns 220,700 shares of the company's stock valued at $3,845,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its position in Travere Therapeutics by 92.2% during the fourth quarter. Rafferty Asset Management LLC now owns 176,425 shares of the company's stock valued at $3,073,000 after purchasing an additional 84,654 shares in the last quarter.

Insider Transactions at Travere Therapeutics

In other news, insider Peter Heerma sold 1,771 shares of the business's stock in a transaction 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 in the company, valued at approximately $2,698,925.75. The trade was a 1.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction 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 $8,823,591.65. The trade was a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,527 shares of company stock worth $473,814. 4.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TVTX has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price objective 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. Guggenheim reaffirmed a "buy" rating and set a $47.00 price objective on shares of Travere Therapeutics in a research report on Monday, April 14th. Wedbush reaffirmed an "outperform" rating and set a $30.00 price objective on shares of Travere Therapeutics in a research report on Friday, May 16th. Evercore ISI lifted their target price on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Travere Therapeutics from $42.00 to $44.00 and gave the company 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.79.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock opened at $15.70 on Friday. The firm has a fifty day simple moving average of $18.01 and a 200-day simple moving average of $18.87. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a 1-year low of $6.14 and a 1-year high of $25.29. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -3.83 and a beta of 0.88.

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

Travere Therapeutics 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.

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