Travere Therapeutics, Inc. $TVTX Shares Bought by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd boosted its Travere Therapeutics stake by 196.6% in the first quarter, ending with 117,361 shares valued at about $3.49 million.
• Insiders sold shares over the past quarter, including CEO Eric M. Dube and insider Jula Inrig, with total insider sales of 324,515 shares worth about $13.85 million in the last 90 days.
• Analysts remain mostly bullish on TVTX, with 10 Buy ratings and a consensus “Moderate Buy” price target of $52.08; shares were recently trading at $58.12 after the company beat EPS estimates in its latest earnings report.

Y Intercept Hong Kong Ltd increased its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 196.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,361 shares of the company's stock after purchasing an additional 77,793 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.13% of Travere Therapeutics worth $3,487,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in Travere Therapeutics by 69.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company's stock valued at $45,000 after buying an additional 487 shares during the period. Comerica Bank grew its holdings in shares of Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company's stock valued at $43,000 after acquiring an additional 492 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Travere Therapeutics by 4.1% in the fourth quarter. ProShare Advisors LLC now owns 19,007 shares of the company's stock worth $726,000 after acquiring an additional 756 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Travere Therapeutics by 26.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,348 shares of the company's stock valued at $166,000 after buying an additional 902 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of Travere Therapeutics during the 4th quarter valued at $37,000.

Insider Buying and Selling

In other Travere Therapeutics news, insider Jula Inrig sold 20,000 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $45.00, for a total transaction of $900,000.00. Following the completion of the transaction, the insider owned 111,473 shares of the company's stock, valued at $5,016,285. This represents a 15.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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, CEO Eric M. Dube sold 64,000 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $41.09, for a total transaction of $2,629,760.00. Following the transaction, the chief executive officer owned 432,886 shares of the company's stock, valued at $17,787,285.74. The trade was a 12.88% 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. Insiders have sold 324,515 shares of company stock worth $13,854,428 over the last ninety days. Insiders own 4.44% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on TVTX shares. Piper Sandler raised Travere Therapeutics from a "neutral" rating to an "overweight" rating and set a $49.00 price target on the stock in a research report on Tuesday, April 14th. Citigroup boosted their price objective on shares of Travere Therapeutics from $62.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, June 15th. Canaccord Genuity Group increased their target price on shares of Travere Therapeutics from $47.00 to $56.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. Weiss Ratings downgraded Travere Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, June 23rd. Finally, Guggenheim boosted their price target on Travere Therapeutics from $56.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, June 25th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $52.08.

Travere Therapeutics Price Performance

TVTX traded up $0.64 during trading on Tuesday, hitting $58.12. The company's stock had a trading volume of 392,998 shares, compared to its average volume of 2,227,813. The company has a quick ratio of 3.08, a current ratio of 3.13 and a debt-to-equity ratio of 3.16. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of -253.34 and a beta of 1.10. The firm's 50 day moving average price is $48.31 and its two-hundred day moving average price is $37.64. Travere Therapeutics, Inc. has a 12 month low of $14.69 and a 12 month high of $60.10.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.24) by $0.29. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The company had revenue of $127.20 million during the quarter, compared to analysts' expectations of $136.23 million. During the same period last year, the firm earned ($0.47) EPS. The business's revenue for the quarter was up 55.6% on a year-over-year basis. Sell-side analysts forecast that Travere Therapeutics, Inc. will post -0.25 earnings per share for the current fiscal year.

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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