Schonfeld Strategic Advisors LLC Sells 152,820 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Schonfeld Strategic Advisors LLC cut its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 86.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,000 shares of the company's stock after selling 152,820 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Travere Therapeutics were worth $401,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. AQR Capital Management LLC grew its stake in shares of Travere Therapeutics by 117.8% in the fourth quarter. AQR Capital Management LLC now owns 424,024 shares of the company's stock worth $7,386,000 after acquiring an additional 229,361 shares during the period. Northern Trust Corp grew its stake in shares of Travere Therapeutics by 11.3% in the fourth quarter. Northern Trust Corp now owns 754,395 shares of the company's stock worth $13,142,000 after acquiring an additional 76,358 shares during the period. Tudor Investment Corp ET AL grew its stake in shares of Travere Therapeutics by 13.3% in the fourth quarter. Tudor Investment Corp ET AL now owns 43,213 shares of the company's stock worth $753,000 after acquiring an additional 5,069 shares during the period. Quarry LP grew its stake in shares of Travere Therapeutics by 60.0% in the fourth quarter. Quarry LP now owns 12,000 shares of the company's stock worth $209,000 after acquiring an additional 4,500 shares during the period. Finally, Aquatic Capital Management LLC bought a new stake in Travere Therapeutics during the fourth quarter valued at approximately $557,000.

Insider Activity at Travere Therapeutics

In other news, SVP William E. Rote sold 5,200 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $23.53, for a total value of $122,356.00. Following the sale, the senior vice president now owns 98,519 shares of the company's stock, valued at approximately $2,318,152.07. This represents a 5.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Christopher R. Cline sold 1,784 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $37,553.20. Following the completion of the sale, the chief financial officer now directly owns 93,126 shares in the company, valued at approximately $1,960,302.30. This represents a 1.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,420 shares of company stock valued at $2,302,575 over the last 90 days. 4.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TVTX shares. Guggenheim restated a "buy" rating and set a $47.00 target price on shares of Travere Therapeutics in a research report on Monday, April 14th. Wedbush reiterated an "outperform" rating and issued a $30.00 price target on shares of Travere Therapeutics in a research report on Friday, May 2nd. Citigroup upped their price target on shares of Travere Therapeutics from $31.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. JPMorgan Chase & Co. upped their target price on shares of Travere Therapeutics from $42.00 to $44.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Finally, HC Wainwright upped their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $31.79.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $20.02 on Monday. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -4.88 and a beta of 0.88. The firm's fifty day moving average is $18.07 and its 200 day moving average is $18.83. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a 52-week low of $6.01 and a 52-week high of $25.29.

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, beating analysts' consensus estimates of ($0.55) by $0.08. The company had revenue of $81.73 million for the quarter, compared to the consensus estimate of $77.44 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. Travere Therapeutics's revenue was up 83.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.76) earnings per share. Sell-side analysts forecast that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal 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.

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