Renaissance Technologies LLC Purchases 534,500 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Renaissance Technologies LLC lifted its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 28.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,409,514 shares of the company's stock after acquiring an additional 534,500 shares during the quarter. Renaissance Technologies LLC owned approximately 3.09% of Travere Therapeutics worth $41,974,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rhumbline Advisers grew its position in Travere Therapeutics by 2.2% in the fourth quarter. Rhumbline Advisers now owns 121,248 shares of the company's stock valued at $2,112,000 after acquiring an additional 2,640 shares during the last quarter. Arizona State Retirement System increased its position in Travere Therapeutics by 13.5% during the 4th quarter. Arizona State Retirement System now owns 22,396 shares of the company's stock worth $390,000 after purchasing an additional 2,666 shares in the last quarter. R Squared Ltd bought a new position in Travere Therapeutics in the 4th quarter valued at approximately $53,000. Diversified Trust Co boosted its position in Travere Therapeutics by 27.5% during the 4th quarter. Diversified Trust Co now owns 14,701 shares of the company's stock worth $256,000 after buying an additional 3,169 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Travere Therapeutics by 23.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,206 shares of the company's stock worth $317,000 after buying an additional 3,494 shares during the period.

Insider Activity at Travere Therapeutics

In other news, CAO Sandra Calvin sold 54,244 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the transaction, the chief accounting officer now owns 54,410 shares of the company's stock, valued at approximately $1,360,250. This trade represents a 49.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP William E. Rote sold 2,437 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $47,424.02. Following the completion of the sale, the senior vice president now directly owns 83,170 shares in the company, valued at $1,618,488.20. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,877 shares of company stock worth $4,147,627 over the last three months. 3.75% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Guggenheim restated a "buy" rating and issued a $47.00 price target on shares of Travere Therapeutics in a report on Monday. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Travere Therapeutics in a research report on Thursday, April 3rd. Canaccord Genuity Group boosted their price objective on Travere Therapeutics from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, April 10th. JPMorgan Chase & Co. raised their target price on Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Finally, Bank of America boosted their price objective on Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $32.08.

Travere Therapeutics Stock Performance

Travere Therapeutics stock traded down $0.40 during mid-day trading on Wednesday, hitting $14.51. The company had a trading volume of 234,660 shares, compared to its average volume of 1,706,856. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -3.54 and a beta of 0.84. The company's fifty day moving average is $19.33 and its 200-day moving average is $18.57. 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 12-month low of $5.12 and a 12-month high of $25.29.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) EPS for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.15). The firm had revenue of $74.79 million for the quarter, compared to analyst estimates of $72.38 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. Equities research analysts predict that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

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.