Two Sigma Advisers LP Has $16.85 Million Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Two Sigma Advisers LP boosted its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 34.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 967,500 shares of the company's stock after buying an additional 247,100 shares during the quarter. Two Sigma Advisers LP owned 1.24% of Travere Therapeutics worth $16,854,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rock Springs Capital Management LP grew its position in Travere Therapeutics by 6.2% during the fourth quarter. Rock Springs Capital Management LP now owns 4,973,649 shares of the company's stock worth $86,641,000 after buying an additional 289,173 shares during the period. Renaissance Technologies LLC grew its holdings in Travere Therapeutics by 28.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company's stock valued at $41,974,000 after buying an additional 534,500 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in Travere Therapeutics by 608.1% during the 4th quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company's stock valued at $38,637,000 after buying an additional 1,904,733 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Travere Therapeutics by 36.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company's stock valued at $37,875,000 after buying an additional 583,836 shares during the last quarter. Finally, Emerald Advisers LLC grew its holdings in Travere Therapeutics by 8.4% during the 4th quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company's stock valued at $37,030,000 after buying an additional 165,085 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Evercore ISI increased their target price on Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Guggenheim reiterated a "buy" rating and set a $47.00 target price on shares of Travere Therapeutics in a report on Monday, April 14th. Scotiabank reiterated an "outperform" rating on shares of Travere Therapeutics in a report on Friday, April 11th. Cantor Fitzgerald reissued an "overweight" rating on shares of Travere Therapeutics in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $31.79.

Insider Buying and Selling

In other news, insider Peter Heerma sold 1,771 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $37,279.55. Following the sale, the insider now owns 128,215 shares of the company's stock, valued at $2,698,925.75. The trade was a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Christopher R. Cline sold 1,784 shares of the business's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $37,553.20. Following the completion of the sale, the chief financial officer now directly owns 93,126 shares in the company, valued at approximately $1,960,302.30. This represents a 1.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,527 shares of company stock worth $473,814 in the last quarter. 4.19% of the stock is owned by corporate insiders.

Travere Therapeutics Stock Down 0.2%

TVTX stock traded down $0.03 during trading hours on Tuesday, hitting $15.81. The company's stock had a trading volume of 397,498 shares, compared to its average volume of 1,573,806. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The company has a market capitalization of $1.40 billion, a PE ratio of -3.86 and a beta of 0.88. Travere Therapeutics, Inc. has a 12 month low of $6.30 and a 12 month high of $25.29. The stock has a 50 day moving average price of $17.83 and a two-hundred day moving average price of $18.85.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share for the quarter, beating analysts' consensus estimates of ($0.55) by $0.08. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The firm had revenue of $81.73 million during the quarter, compared to the consensus estimate of $77.44 million. During the same period in the prior year, the firm earned ($1.76) EPS. The business's revenue was up 83.3% on a year-over-year basis. On average, equities research analysts expect that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Travere Therapeutics 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.