Trexquant Investment LP Reduces Stock Position in Travere Therapeutics, Inc. $TVTX

Key Points

• Trexquant Investment LP has reduced its stake in Travere Therapeutics, Inc. by 44.2%, now owning approximately 156,400 shares worth $2.8 million.
• The company reported an EPS of ($0.14) for the latest quarter, exceeding expectations while revenue rose 111.5% year-over-year.
• Analysts have given Travere a consensus rating of "Moderate Buy" with an average price target of $33.43, indicating positive future expectations for the stock.

Trexquant Investment LP reduced its position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 44.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,400 shares of the company's stock after selling 123,817 shares during the quarter. Trexquant Investment LP owned about 0.18% of Travere Therapeutics worth $2,803,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TVTX. GF Fund Management CO. LTD. bought a new stake in Travere Therapeutics during the fourth quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd bought a new stake in Travere Therapeutics during the first quarter valued at approximately $62,000. Gen Wealth Partners Inc bought a new stake in Travere Therapeutics during the fourth quarter valued at approximately $73,000. KBC Group NV bought a new stake in Travere Therapeutics during the first quarter valued at approximately $75,000. Finally, Twinbeech Capital LP bought a new stake in Travere Therapeutics during the fourth quarter valued at approximately $177,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TVTX shares. Wedbush lifted their target price on shares of Travere Therapeutics from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Citigroup restated a "buy" rating on shares of Travere Therapeutics in a report on Sunday, August 10th. Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a report on Thursday, August 7th. HC Wainwright restated a "buy" rating and issued a $47.00 price objective on shares of Travere Therapeutics in a report on Wednesday. Finally, Wall Street Zen upgraded shares of Travere Therapeutics from a "hold" rating to a "buy" rating in a report on Monday, September 1st. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $33.43.

Travere Therapeutics Trading Up 2.3%

Travere Therapeutics stock traded up $0.49 during mid-day trading on Friday, reaching $21.64. 3,912,872 shares of the company traded hands, compared to its average volume of 1,761,887. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98. The firm's 50 day moving average price is $16.83 and its 200 day moving average price is $17.31. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -10.61 and a beta of 0.79. Travere Therapeutics, Inc. has a 52-week low of $10.64 and a 52-week high of $25.29.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.28) by $0.14. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The business had revenue of $94.84 million for the quarter, compared to the consensus estimate of $100.18 million. During the same period in the previous year, the firm earned ($0.65) EPS. The company's quarterly revenue was up 111.5% compared to the same quarter last year. On average, analysts anticipate that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

About Travere Therapeutics

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.