Wellington Management Group LLP Invests $583,000 in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Wellington Management Group LLP bought a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 33,493 shares of the company's stock, valued at approximately $583,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of TVTX. California State Teachers Retirement System boosted its stake in Travere Therapeutics by 10.8% during the fourth quarter. California State Teachers Retirement System now owns 72,192 shares of the company's stock worth $1,258,000 after buying an additional 7,041 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Travere Therapeutics in the 4th quarter worth about $4,418,000. GF Fund Management CO. LTD. purchased a new position in shares of Travere Therapeutics during the 4th quarter worth about $31,000. Public Employees Retirement System of Ohio boosted its stake in shares of Travere Therapeutics by 102.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 102,756 shares of the company's stock worth $1,790,000 after purchasing an additional 51,876 shares during the period. Finally, Voloridge Investment Management LLC grew its holdings in Travere Therapeutics by 33.6% during the 4th quarter. Voloridge Investment Management LLC now owns 1,007,197 shares of the company's stock valued at $17,545,000 after purchasing an additional 253,402 shares during the last quarter.

Travere Therapeutics Stock Up 4.1%

NASDAQ:TVTX opened at $15.32 on Friday. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. Travere Therapeutics, Inc. has a 1-year low of $6.80 and a 1-year high of $25.29. The company has a 50-day moving average of $16.97 and a 200 day moving average of $18.66. The firm has a market cap of $1.36 billion, a PE ratio of -3.74 and a beta of 0.75.

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

Insiders Place Their Bets

In other news, insider Peter Heerma sold 1,771 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 value of $37,279.55. Following the completion of the transaction, the insider now directly owns 128,215 shares of the company's stock, valued at approximately $2,698,925.75. The trade was a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christopher R. Cline sold 1,784 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $37,553.20. Following the sale, the chief financial officer now directly owns 93,126 shares in the company, valued at approximately $1,960,302.30. The trade was a 1.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,527 shares of company stock worth $473,814 over the last 90 days. Company insiders own 4.06% of the company's stock.

Wall Street Analysts Forecast Growth

TVTX has been the subject of several recent analyst reports. Stifel Nicolaus boosted their target price on Travere Therapeutics from $22.00 to $23.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. boosted their price objective on Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Wedbush reaffirmed an "outperform" rating and issued a $30.00 price objective on shares of Travere Therapeutics in a research report on Friday, May 16th. Evercore ISI lifted their target price on Travere Therapeutics from $33.00 to $45.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Travere Therapeutics in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.79.

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.

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