Trexquant Investment LP Trims 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 trimmed its position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 44.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 156,400 shares of the company's stock after selling 123,817 shares during the period. Trexquant Investment LP owned about 0.18% of Travere Therapeutics worth $2,803,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Ieq Capital LLC boosted its holdings in Travere Therapeutics by 60.6% in the 1st quarter. Ieq Capital LLC now owns 33,323 shares of the company's stock worth $597,000 after buying an additional 12,574 shares during the last quarter. Corebridge Financial Inc. boosted its holdings in Travere Therapeutics by 9.7% in the 1st quarter. Corebridge Financial Inc. now owns 41,211 shares of the company's stock worth $739,000 after buying an additional 3,646 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Travere Therapeutics by 10.2% in the 1st quarter. MetLife Investment Management LLC now owns 49,288 shares of the company's stock worth $883,000 after buying an additional 4,577 shares during the last quarter. Penn Capital Management Company LLC acquired a new stake in Travere Therapeutics in the 1st quarter worth about $378,000. Finally, Candriam S.C.A. acquired a new stake in Travere Therapeutics in the 1st quarter worth about $9,571,000.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Scotiabank reiterated an "outperform" rating on shares of Travere Therapeutics in a report on Thursday, August 7th. HC Wainwright reiterated a "buy" rating and issued a $47.00 price objective on shares of Travere Therapeutics in a report on Wednesday, September 3rd. Wedbush raised their target price on shares of Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen raised shares of Travere Therapeutics from a "hold" rating to a "buy" rating in a research note on Monday, September 1st. Finally, Citigroup reissued a "buy" rating on shares of Travere Therapeutics in a research note on Sunday, August 10th. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $33.43.

Travere Therapeutics Trading Down 1.5%

Shares of TVTX stock traded down $0.31 during trading on Tuesday, hitting $20.89. 458,636 shares of the stock traded hands, compared to its average volume of 1,680,842. The firm has a market capitalization of $1.86 billion, a P/E ratio of -10.24 and a beta of 0.78. 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 fifty day moving average price is $16.96 and its 200-day moving average price is $17.26. Travere Therapeutics, Inc. has a 52-week low of $11.89 and a 52-week high of $25.29.

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

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.