Wellington Management Group LLP increased its position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 50.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,533,080 shares of the company's stock after buying an additional 510,808 shares during the quarter. Wellington Management Group LLP owned about 1.63% of Travere Therapeutics worth $87,094,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in Travere Therapeutics in the second quarter worth about $33,000. GAMMA Investing LLC grew its stake in shares of Travere Therapeutics by 53.4% in the 2nd quarter. GAMMA Investing LLC now owns 606 shares of the company's stock worth $34,000 after purchasing an additional 211 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of Travere Therapeutics in the 1st quarter worth approximately $35,000. State of Wyoming bought a new stake in shares of Travere Therapeutics in the 4th quarter worth approximately $37,000. Finally, Comerica Bank raised its holdings in shares of Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company's stock worth $43,000 after purchasing an additional 492 shares in the last quarter.
Travere Therapeutics Stock Performance
Travere Therapeutics stock opened at $65.71 on Wednesday. The firm's 50 day simple moving average is $59.76 and its 200-day simple moving average is $45.45. The company has a market cap of $6.19 billion, a P/E ratio of -142.84 and a beta of 1.05. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.99. Travere Therapeutics, Inc. has a fifty-two week low of $17.27 and a fifty-two week high of $67.85.
Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.03. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The business had revenue of $169.58 million during the quarter, compared to the consensus estimate of $157.27 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The firm's quarterly revenue was up 48.2% on a year-over-year basis. As a group, equities research analysts predict that Travere Therapeutics, Inc. will post -0.56 EPS for the current year.
Insider Buying and Selling at Travere Therapeutics
In other news, Director Roy D. Baynes sold 4,500 shares of Travere Therapeutics stock in a transaction on Friday, June 12th. The stock was sold at an average price of $50.00, for a total transaction of $225,000.00. Following the transaction, the director owned 41,500 shares in the company, valued at approximately $2,075,000. The trade was a 9.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of Travere Therapeutics stock in a transaction on Friday, June 12th. The shares were sold at an average price of $50.07, for a total value of $500,700.00. Following the transaction, the director owned 56,250 shares in the company, valued at $2,816,437.50. This represents a 15.09% 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. 4.44% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on TVTX shares. Piper Sandler restated an "overweight" rating on shares of Travere Therapeutics in a report on Monday, August 17th. Wall Street Zen cut Travere Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings downgraded Travere Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, June 23rd. Wedbush raised their price objective on Travere Therapeutics from $61.00 to $75.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Finally, Wells Fargo & Company lifted their target price on Travere Therapeutics from $50.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. 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 company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $61.67.
Get Our Latest Stock Report on TVTX
Travere Therapeutics Company Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding TVTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report).
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