Travere Therapeutics, Inc. $TVTX Holdings Cut by Eversept Partners LP

Key Points

• Eversept Partners LP reduced its stake in Travere Therapeutics by 17.1% in the fourth quarter, selling 242,236 shares and ending with 1,174,968 shares valued at about $44.9 million.
• Travere reported better-than-expected quarterly EPS of $0.05, while revenue reached $127.2 million, up 55.6% year over year, though it still posted negative net margin and return on equity.
• Analyst sentiment remains constructive, with multiple firms reiterating or raising ratings and targets; the stock currently carries a Moderate Buy consensus and an average price target of $50.83.

Eversept Partners LP cut its position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 17.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,174,968 shares of the company's stock after selling 242,236 shares during the quarter. Travere Therapeutics comprises 2.3% of Eversept Partners LP's investment portfolio, making the stock its 9th biggest position. Eversept Partners LP owned about 1.31% of Travere Therapeutics worth $44,896,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TVTX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Travere Therapeutics by 13.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,777 shares of the company's stock worth $1,029,000 after purchasing an additional 6,831 shares in the last quarter. Norges Bank purchased a new stake in Travere Therapeutics in the 2nd quarter worth approximately $1,051,000. First Trust Advisors LP bought a new position in shares of Travere Therapeutics in the 2nd quarter worth $3,538,000. Cresset Asset Management LLC increased its holdings in shares of Travere Therapeutics by 26.5% in the 2nd quarter. Cresset Asset Management LLC now owns 28,875 shares of the company's stock worth $427,000 after buying an additional 6,047 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Travere Therapeutics by 106.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 604,128 shares of the company's stock worth $8,941,000 after buying an additional 311,137 shares during the last quarter.

Insider Transactions at Travere Therapeutics

In other news, insider Elizabeth E. Reed sold 2,076 shares of the firm's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $43.95, for a total value of $91,240.20. Following the completion of the sale, the insider directly owned 105,211 shares of the company's stock, valued at approximately $4,624,023.45. This trade represents a 1.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William E. Rote sold 2,763 shares of the firm's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $43.95, for a total transaction of $121,433.85. Following the completion of the sale, the insider directly owned 115,474 shares of the company's stock, valued at approximately $5,075,082.30. This represents a 2.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 404,515 shares of company stock worth $16,340,228. 4.44% of the stock is owned by corporate insiders.

Travere Therapeutics Price Performance

TVTX stock opened at $54.14 on Thursday. The company has a debt-to-equity ratio of 3.16, a quick ratio of 3.08 and a current ratio of 3.13. Travere Therapeutics, Inc. has a 52 week low of $13.88 and a 52 week high of $55.11. The firm's fifty day moving average is $43.07 and its 200 day moving average is $35.63. The firm has a market cap of $5.03 billion, a P/E ratio of -235.38 and a beta of 1.13.

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. The business had revenue of $127.20 million for the quarter, compared to analyst estimates of $136.23 million. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The company's revenue was up 55.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.47) EPS. Research analysts predict that Travere Therapeutics, Inc. will post -0.29 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wedbush reissued an "outperform" rating and issued a $55.00 price target on shares of Travere Therapeutics in a report on Wednesday, June 3rd. HC Wainwright increased their price target on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Wall Street Zen lowered shares of Travere Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings raised shares of Travere Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, May 21st. Finally, Piper Sandler raised shares of Travere Therapeutics from a "neutral" rating to an "overweight" rating and set a $49.00 price target on the stock in a report on Tuesday, April 14th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Travere Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $50.83.

Travere Therapeutics Company Profile

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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