Sphera Funds Management LTD. Buys 50,000 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Sphera Funds Management LTD. grew its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 29.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 220,700 shares of the company's stock after acquiring an additional 50,000 shares during the quarter. Sphera Funds Management LTD. owned 0.28% of Travere Therapeutics worth $3,845,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC lifted 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 worth $41,000 after purchasing an additional 2,115 shares during the period. R Squared Ltd bought a new stake in Travere Therapeutics during the fourth quarter worth about $53,000. Gen Wealth Partners Inc bought a new stake in Travere Therapeutics during the fourth quarter worth about $73,000. Summit Investment Advisors Inc. lifted 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 worth $138,000 after purchasing an additional 667 shares during the period. Finally, Victory Capital Management Inc. bought a new stake in Travere Therapeutics during the fourth quarter worth about $182,000.

Insider Transactions at Travere Therapeutics

In related news, insider Peter Heerma sold 1,771 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $37,279.55. Following the transaction, the insider now directly owns 128,215 shares in the company, valued at $2,698,925.75. This trade represents a 1.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher R. Cline sold 1,784 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $37,553.20. Following the completion of the transaction, the chief financial officer now owns 93,126 shares in the company, valued at approximately $1,960,302.30. This represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,527 shares of company stock valued at $473,814 in the last quarter. 4.19% of the stock is currently owned by company insiders.

Travere Therapeutics Trading Up 1.3%

NASDAQ:TVTX traded up $0.21 on Monday, reaching $17.01. 2,402,005 shares of the stock traded hands, compared to its average volume of 1,565,601. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -4.15 and a beta of 0.88. The company's 50 day moving average is $18.25 and its 200-day moving average is $18.92. 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 1-year low of $6.01 and a 1-year high of $25.29.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.47) 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 net margin of 137.90% and a negative return on equity of 1,636.87%. The company's quarterly revenue was up 83.3% on a year-over-year basis. During the same quarter last year, the firm posted ($1.76) EPS. Equities research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Analyst Ratings Changes

TVTX has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. Guggenheim reissued a "buy" rating and issued a $47.00 target price on shares of Travere Therapeutics in a report on Monday, April 14th. Canaccord Genuity Group upped their price objective on Travere Therapeutics from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Thursday, April 10th. JPMorgan Chase & Co. upped their price objective on Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Citigroup reaffirmed a "buy" rating on shares of Travere Therapeutics in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $31.79.

About Travere Therapeutics

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.