XTX Topco Ltd Has $935,000 Stake in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Key Points

• XTX Topco Ltd increased its stake in Travere Therapeutics by 79.2%, acquiring a total of 52,202 shares worth approximately $935,000.
• Travere Therapeutics reported a quarterly revenue of $81.73 million, exceeding estimates, and a smaller loss per share of ($0.47) compared to the expected ($0.55).
• Insider transactions included CFO Christopher R. Cline and CEO Eric M. Dube selling shares, reducing their holdings by 1.88% and 4.32%, respectively.

XTX Topco Ltd boosted its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 79.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,202 shares of the company's stock after purchasing an additional 23,069 shares during the quarter. XTX Topco Ltd owned 0.06% of Travere Therapeutics worth $935,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Rock Springs Capital Management LP boosted its holdings in shares of Travere Therapeutics by 6.2% in the fourth quarter. Rock Springs Capital Management LP now owns 4,973,649 shares of the company's stock valued at $86,641,000 after buying an additional 289,173 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Travere Therapeutics by 28.5% in the fourth 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 period. Driehaus Capital Management LLC boosted its holdings in shares of Travere Therapeutics by 608.1% in the fourth 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 period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Travere Therapeutics by 36.7% in the fourth 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 period. Finally, Geode Capital Management LLC boosted its holdings in shares of Travere Therapeutics by 6.4% in the fourth quarter. Geode Capital Management LLC now owns 1,842,301 shares of the company's stock valued at $32,100,000 after buying an additional 111,256 shares during the period.

Analyst Upgrades and Downgrades

TVTX has been the subject of several research analyst reports. Wedbush upped their price target on shares of Travere Therapeutics from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday. Stifel Nicolaus boosted their price objective on shares of 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 reissued a "buy" rating and issued a $30.00 price objective on shares of Travere Therapeutics in a research report on Tuesday, July 1st. Scotiabank reissued an "outperform" rating on shares of Travere Therapeutics in a research report on Thursday. Finally, Canaccord Genuity Group boosted their price objective on shares of Travere Therapeutics from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Travere Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.29.

Travere Therapeutics Trading Down 4.1%

NASDAQ:TVTX traded down $0.70 during mid-day trading on Thursday, hitting $16.54. 2,886,082 shares of the company's stock were exchanged, compared to its average volume of 1,643,472. The firm has a market capitalization of $1.47 billion, a P/E ratio of -5.89 and a beta of 0.74. The company has a 50 day simple moving average of $15.39 and a 200-day simple moving average of $17.82. The company has a current ratio of 2.05, a quick ratio of 2.03 and a debt-to-equity ratio of 9.46. Travere Therapeutics, Inc. has a fifty-two week low of $8.09 and a fifty-two week high of $25.29.

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.