Silverarc Capital Management LLC Makes New $4.83 Million Investment in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Silverarc Capital Management LLC acquired a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 277,365 shares of the company's stock, valued at approximately $4,832,000. Silverarc Capital Management LLC owned 0.36% of Travere Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TVTX. Rock Springs Capital Management LP grew its position in Travere Therapeutics by 6.2% in the 4th quarter. Rock Springs Capital Management LP now owns 4,973,649 shares of the company's stock valued at $86,641,000 after buying an additional 289,173 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Travere Therapeutics by 28.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company's stock valued at $41,974,000 after acquiring an additional 534,500 shares in the last quarter. Emerald Advisers LLC increased its stake in shares of Travere Therapeutics by 8.4% during the fourth quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company's stock worth $37,030,000 after acquiring an additional 165,085 shares during the period. Geode Capital Management LLC raised its holdings in Travere Therapeutics by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 1,842,301 shares of the company's stock worth $32,100,000 after purchasing an additional 111,256 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in 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 period.

Insider Buying and Selling

In other news, SVP William E. Rote sold 8,951 shares of Travere Therapeutics stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $19.78, for a total value of $177,050.78. Following the completion of the sale, the senior vice president now owns 95,719 shares of the company's stock, valued at $1,893,321.82. The trade was a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sandra Calvin sold 54,244 shares of the company's stock in a transaction on 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 completion of the transaction, the chief accounting officer now owns 54,410 shares of the company's stock, valued at $1,360,250. The trade was a 49.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 156,330 shares of company stock worth $3,507,377. 3.75% of the stock is owned by insiders.

Travere Therapeutics Price Performance

NASDAQ:TVTX traded up $0.70 during trading hours on Friday, reaching $18.33. 1,323,100 shares of the company traded hands, compared to its average volume of 1,516,917. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. Travere Therapeutics, Inc. has a 1-year low of $5.24 and a 1-year high of $25.29. The firm's 50-day moving average is $18.25 and its 200-day moving average is $18.63. The stock has a market cap of $1.63 billion, a P/E ratio of -4.47 and a beta of 0.84.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TVTX. Scotiabank reissued an "outperform" rating on shares of Travere Therapeutics in a research note on Friday, April 11th. 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. Canaccord Genuity Group boosted 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. HC Wainwright increased their price target on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Finally, Bank of America boosted their price objective on shares of Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $32.08.

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.