RA Capital Management L.P. Makes New $20.03 Million Investment in Travere Therapeutics, Inc. (NASDAQ:TVTX)

RA Capital Management L.P. acquired a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,150,000 shares of the company's stock, valued at approximately $20,033,000. RA Capital Management L.P. owned 1.47% of Travere Therapeutics as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted 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 acquiring an additional 2,115 shares during the last quarter. R Squared Ltd bought a new stake in shares of Travere Therapeutics in the 4th quarter valued at $53,000. Summit Investment Advisors Inc. lifted its position in shares of Travere Therapeutics by 9.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company's stock valued at $138,000 after acquiring an additional 667 shares during the period. Victory Capital Management Inc. acquired a new stake in Travere Therapeutics in the fourth quarter worth $182,000. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Travere Therapeutics during the 4th quarter worth about $192,000.

Travere Therapeutics Stock Performance

Shares of NASDAQ:TVTX traded up $0.26 during mid-day trading on Monday, reaching $21.41. The company had a trading volume of 2,106,584 shares, compared to its average volume of 1,529,164. The company's 50-day moving average price is $18.08 and its 200-day moving average price is $18.75. Travere Therapeutics, Inc. has a one year low of $6.01 and a one year high of $25.29. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -5.22 and a beta of 0.88. 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 posted 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. 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 quarter in the prior year, the company earned ($1.76) EPS. The firm's quarterly revenue was up 83.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, insider Peter Heerma sold 3,074 shares of the firm's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total value of $76,850.00. Following the completion of the transaction, the insider now owns 127,634 shares in the company, valued at $3,190,850. This trade represents a 2.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sandra Calvin sold 54,244 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total value of $1,356,100.00. Following the sale, the chief accounting officer now owns 54,410 shares in the company, valued at approximately $1,360,250. This represents a 49.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,941 shares of company stock worth $2,049,392 over the last quarter. Corporate insiders own 4.19% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on TVTX. Bank of America upped their price target on Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. Stifel Nicolaus lifted their price objective on shares of Travere Therapeutics from $22.00 to $23.00 and gave the company a "hold" rating in a report on Friday. Citigroup raised their target price on Travere Therapeutics from $31.00 to $35.00 and gave the company a "buy" rating in a report on Monday, February 24th. Scotiabank reiterated an "outperform" rating on shares of Travere Therapeutics in a report on Friday, April 11th. Finally, Evercore ISI upped their target price on shares of Travere Therapeutics from $33.00 to $45.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.