Vanguard Group Inc. Has $89.85 Million Stock Position in Travere Therapeutics, Inc. $TVTX

Key Points

• Vanguard Group Inc. has reduced its stake in Travere Therapeutics, Inc. by 25.6%, now owning approximately 5.65% of the company, worth about $89.85 million.
• Other hedge funds have made notable movements, with XTX Topco Ltd. increasing its holdings by 79.2%, while Essex Investment Management Co. and Legato Capital Management LLC acquired new positions in the first quarter.
• Travere Therapeutics reported an EPS of ($0.14) for the last quarter, surpassing analysts' estimates, with a revenue growth of 111.5% compared to the previous year.

Vanguard Group Inc. lowered its position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 25.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,014,020 shares of the company's stock after selling 1,728,145 shares during the quarter. Vanguard Group Inc. owned 5.65% of Travere Therapeutics worth $89,851,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TVTX. GF Fund Management CO. LTD. bought a new stake in shares of Travere Therapeutics in the 4th quarter worth approximately $31,000. Sterling Capital Management LLC lifted its position in shares of Travere Therapeutics by 859.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock worth $41,000 after acquiring an additional 2,115 shares during the period. Gen Wealth Partners Inc acquired a new position in shares of Travere Therapeutics in the 4th quarter worth approximately $73,000. KBC Group NV bought a new position in shares of Travere Therapeutics during the 1st quarter worth approximately $75,000. Finally, Twinbeech Capital LP bought a new position in shares of Travere Therapeutics during the 4th quarter worth approximately $177,000.

Analysts Set New Price Targets

Several research firms recently commented on TVTX. Wall Street Zen downgraded Travere Therapeutics from a "buy" rating to a "hold" rating in a research report on Sunday. Stifel Nicolaus raised their target price on Travere Therapeutics from $22.00 to $23.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. HC Wainwright raised their target price on Travere Therapeutics from $30.00 to $47.00 and gave the stock a "buy" rating in a research report on Thursday. Wedbush raised their target price on Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Travere Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.43.

Travere Therapeutics Price Performance

TVTX traded up $0.26 during midday trading on Thursday, hitting $17.70. The company had a trading volume of 3,207,663 shares, compared to its average volume of 1,585,195. Travere Therapeutics, Inc. has a twelve month low of $8.98 and a twelve month high of $25.29. The company has a market capitalization of $1.58 billion, a PE ratio of -8.68 and a beta of 0.74. The company has a debt-to-equity ratio of 9.50, a quick ratio of 1.98 and a current ratio of 2.00. The firm's 50-day simple moving average is $16.30 and its 200-day simple moving average is $17.51.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping 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 company had revenue of $94.84 million for the quarter, compared to analyst estimates of $100.18 million. During the same period in the prior year, the business earned ($0.65) earnings per share. Travere Therapeutics's quarterly revenue was up 111.5% on a year-over-year basis. Equities research analysts predict that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal 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.