Jacobs Levy Equity Management Inc. Purchases 583,836 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Jacobs Levy Equity Management Inc. grew its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 36.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,174,213 shares of the company's stock after purchasing an additional 583,836 shares during the period. Jacobs Levy Equity Management Inc. owned about 2.79% of Travere Therapeutics worth $37,875,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TVTX. Sterling Capital Management LLC raised its position in Travere Therapeutics by 859.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock valued at $41,000 after buying an additional 2,115 shares during the period. R Squared Ltd acquired a new position in Travere Therapeutics during the fourth quarter valued at $53,000. Gen Wealth Partners Inc acquired a new position in Travere Therapeutics during the fourth quarter valued at $73,000. Summit Investment Advisors Inc. raised its position in Travere Therapeutics by 9.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company's stock valued at $138,000 after buying an additional 667 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in Travere Therapeutics during the fourth quarter valued at $182,000.

Insider Transactions at Travere Therapeutics

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TVTX. Evercore ISI upped their price target on Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. upped their price target on Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Wedbush reissued an "outperform" rating and set a $30.00 price target on shares of Travere Therapeutics in a research report on Friday. Cantor Fitzgerald reissued an "overweight" rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. Finally, Canaccord Genuity Group upped their price target on Travere Therapeutics from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Travere Therapeutics has an average rating of "Moderate Buy" and an average target price of $31.79.

Travere Therapeutics Stock Down 20.6%

TVTX stock traded down $4.35 during mid-day trading on Friday, hitting $16.80. The stock had a trading volume of 5,965,164 shares, compared to its average volume of 1,562,237. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -4.10 and a beta of 0.88. The company has a fifty day moving average of $18.25 and a 200 day moving average of $18.91. Travere Therapeutics, Inc. has a 1-year low of $6.01 and a 1-year high of $25.29. 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 (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.08. The company had revenue of $81.73 million during the quarter, compared to the consensus estimate of $77.44 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The firm's revenue was up 83.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.76) EPS. On average, equities analysts expect 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.