Freestone Grove Partners LP Takes $445,000 Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Freestone Grove Partners LP bought a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 25,521 shares of the company's stock, valued at approximately $445,000.

Other institutional investors have also made changes to their positions in the company. Jennison Associates LLC acquired a new position in shares of Travere Therapeutics in the fourth quarter valued at $14,222,000. Renaissance Technologies LLC grew its stake in Travere Therapeutics by 28.5% in 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. Invesco Ltd. raised its holdings in Travere Therapeutics by 135.2% in the 4th quarter. Invesco Ltd. now owns 858,942 shares of the company's stock valued at $14,963,000 after acquiring an additional 493,736 shares during the period. abrdn plc acquired a new stake in Travere Therapeutics during the fourth quarter worth approximately $6,829,000. Finally, Prudential Financial Inc. grew its position in shares of Travere Therapeutics by 60.5% in the fourth quarter. Prudential Financial Inc. now owns 969,141 shares of the company's stock valued at $16,882,000 after purchasing an additional 365,200 shares during the last quarter.

Travere Therapeutics Trading Down 6.8 %

NASDAQ:TVTX traded down $1.46 during mid-day trading on Tuesday, hitting $19.95. 1,739,473 shares of the company's stock were exchanged, compared to its average volume of 1,530,994. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $25.29. The company has a 50 day simple moving average of $18.07 and a 200-day simple moving average of $18.78. The firm has a market capitalization of $1.77 billion, a P/E ratio of -4.87 and a beta of 0.88.

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

Insider Transactions at Travere Therapeutics

In other news, SVP William E. Rote sold 5,200 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $23.53, for a total value of $122,356.00. Following the transaction, the senior vice president now owns 98,519 shares in the company, valued at $2,318,152.07. This trade represents a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roy D. Baynes sold 10,000 shares of Travere Therapeutics stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $22.00, for a total value of $220,000.00. Following the transaction, the director now directly owns 31,000 shares in the company, valued at approximately $682,000. The trade was a 24.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,420 shares of company stock worth $2,522,575. Company insiders own 4.19% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TVTX shares. Cantor Fitzgerald restated an "overweight" rating on shares of Travere Therapeutics in a research note on Wednesday, April 23rd. Guggenheim reaffirmed a "buy" rating and set a $47.00 price target on shares of Travere Therapeutics in a research report on Monday, April 14th. Canaccord Genuity Group increased their target price 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. JPMorgan Chase & Co. boosted their price target on Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Scotiabank reiterated an "outperform" rating on shares of Travere Therapeutics in a research report on Friday, April 11th. 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 MarketBeat, Travere Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $31.79.

About Travere Therapeutics

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.