Man Group plc Buys 62,798 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Man Group plc raised its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 246.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,241 shares of the company's stock after buying an additional 62,798 shares during the period. Man Group plc owned about 0.11% of Travere Therapeutics worth $1,537,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Entropy Technologies LP acquired a new stake in shares of Travere Therapeutics in the 4th quarter valued at $214,000. US Bancorp DE lifted its stake in shares of Travere Therapeutics by 323.4% in the 4th quarter. US Bancorp DE now owns 31,795 shares of the company's stock valued at $554,000 after purchasing an additional 24,286 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Travere Therapeutics by 11.3% in the 4th quarter. Northern Trust Corp now owns 754,395 shares of the company's stock valued at $13,142,000 after purchasing an additional 76,358 shares during the last quarter. Swiss National Bank lifted its stake in shares of Travere Therapeutics by 12.8% in the 4th quarter. Swiss National Bank now owns 151,900 shares of the company's stock valued at $2,646,000 after purchasing an additional 17,200 shares during the last quarter. Finally, Jennison Associates LLC acquired a new stake in shares of Travere Therapeutics in the 4th quarter valued at $14,222,000.

Travere Therapeutics Price Performance

NASDAQ:TVTX traded up $0.26 on Thursday, reaching $15.21. The stock had a trading volume of 322,398 shares, compared to its average volume of 1,576,462. The company has a market capitalization of $1.35 billion, a P/E ratio of -3.72 and a beta of 0.88. Travere Therapeutics, Inc. has a 1-year low of $6.49 and a 1-year high of $25.29. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The stock has a fifty day moving average price of $17.61 and a 200-day moving average price of $18.80.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) EPS for the quarter, beating analysts' consensus estimates of ($0.55) by $0.08. The firm had revenue of $81.73 million for the quarter, compared to analyst estimates 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 company's revenue for the quarter was up 83.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.76) earnings per share. Research analysts forecast that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Insider Buying and Selling at Travere Therapeutics

In other news, 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 transaction of $37,279.55. Following the sale, the insider now directly owns 128,215 shares of the company's stock, valued at $2,698,925.75. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric M. Dube sold 18,924 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 419,173 shares of the company's stock, valued at $8,823,591.65. This trade represents a 4.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,527 shares of company stock worth $473,814 over the last ninety days. Corporate insiders own 4.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wedbush reaffirmed 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 lifted their target price on shares of Travere Therapeutics from $22.00 to $23.00 and gave the stock a "hold" rating in a report on Friday, May 2nd. Guggenheim reiterated a "buy" rating and issued a $47.00 target price on shares of Travere Therapeutics in a report on Monday, April 14th. Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a report on Friday, April 11th. Finally, Bank of America increased their price target on shares of Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently 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.