Travere Therapeutics, Inc. $TVTX Holdings Lifted by Profund Advisors LLC

Key Points

• Profund Advisors LLC increased its stake in Travere Therapeutics by 209.3% in the fourth quarter, lifting its holdings to 62,604 shares worth about $2.39 million.
• Other institutional investors also boosted positions, including Vanguard, Adage Capital, Stephens, and Wellington, while analyst sentiment remained broadly positive with a Moderate Buy consensus and a $47.83 average price target.
• Travere Therapeutics reported quarterly EPS of $0.05, beating estimates, though revenue of $127.2 million came in below expectations; the stock was down 1.5% to $42.26 in Wednesday trading.

Profund Advisors LLC grew its position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 209.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 62,604 shares of the company's stock after purchasing an additional 42,366 shares during the period. Profund Advisors LLC owned approximately 0.07% of Travere Therapeutics worth $2,392,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Travere Therapeutics by 10.3% during the third quarter. Vanguard Group Inc. now owns 6,613,368 shares of the company's stock valued at $158,059,000 after purchasing an additional 619,085 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Travere Therapeutics by 27.4% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company's stock worth $41,203,000 after buying an additional 599,102 shares in the last quarter. Emerald Advisers LLC lifted its position in Travere Therapeutics by 2.6% in the 3rd quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company's stock worth $51,308,000 after buying an additional 55,407 shares in the last quarter. Stephens Investment Management Group LLC lifted its position in Travere Therapeutics by 7.6% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,721,623 shares of the company's stock worth $65,783,000 after buying an additional 121,955 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Travere Therapeutics by 3,331.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company's stock worth $28,715,000 after buying an additional 1,166,460 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wall Street Zen lowered shares of Travere Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Canaccord Genuity Group lifted their target price on shares of Travere Therapeutics from $47.00 to $56.00 and gave the stock a "buy" rating in a report on Tuesday, April 14th. HC Wainwright increased their target price on Travere Therapeutics from $47.00 to $57.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Citigroup increased their price target on shares of Travere Therapeutics from $53.00 to $59.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Finally, Piper Sandler raised shares of Travere Therapeutics from a "neutral" rating to an "overweight" rating and set a $49.00 price target for the company in a report on Tuesday, April 14th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $47.83.

Travere Therapeutics Trading Down 1.5%

Shares of TVTX stock opened at $42.26 on Wednesday. Travere Therapeutics, Inc. has a 12-month low of $13.88 and a 12-month high of $48.61. The company has a market capitalization of $3.93 billion, a P/E ratio of -183.73 and a beta of 1.13. The firm has a 50-day moving average price of $35.15 and a 200 day moving average price of $33.76. The company has a quick ratio of 3.08, a current ratio of 3.13 and a debt-to-equity ratio of 3.16.

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, beating the consensus estimate 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 firm had revenue of $127.20 million during the quarter, compared to the consensus estimate of $136.23 million. During the same period last year, the firm posted ($0.47) EPS. The firm's quarterly revenue was up 55.6% on a year-over-year basis. Research analysts forecast that Travere Therapeutics, Inc. will post -0.26 earnings per share for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics 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 owned 105,211 shares in the company, valued at approximately $4,624,023.45. This trade represents a 1.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 shares were sold at an average price of $43.95, for a total transaction of $121,433.85. Following the completion of the sale, the insider owned 115,474 shares of the company's stock, valued at $5,075,082.30. The trade was a 2.34% 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. In the last ninety days, insiders have sold 400,015 shares of company stock worth $15,895,428. Corporate insiders own 4.44% of the company's stock.

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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