Travere Therapeutics, Inc. (NASDAQ:TVTX) Shares Acquired by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC increased its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 211.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 21,367 shares of the company's stock after acquiring an additional 14,501 shares during the period. Tower Research Capital LLC TRC's holdings in Travere Therapeutics were worth $372,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the business. Sterling Capital Management LLC grew its stake in Travere Therapeutics by 859.8% in 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 period. R Squared Ltd bought a new stake in shares of Travere Therapeutics in the fourth quarter valued at about $53,000. Summit Investment Advisors Inc. increased its holdings in shares of 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. Victory Capital Management Inc. acquired a new stake in shares of Travere Therapeutics during the 4th quarter worth $182,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of Travere Therapeutics in the 4th quarter valued at approximately $192,000.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 11,375 shares of Travere Therapeutics stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $24.04, for a total value of $273,455.00. Following the sale, the chief executive officer now owns 419,173 shares of the company's stock, valued at approximately $10,076,918.92. The trade was a 2.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sandra Calvin sold 3,348 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $20.12, for a total transaction of $67,361.76. Following the transaction, the chief accounting officer now owns 63,654 shares in the company, valued at $1,280,718.48. The trade was a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,330 shares of company stock worth $3,507,377. Insiders own 4.06% of the company's stock.

Travere Therapeutics Stock Performance

TVTX traded up $0.39 on Friday, reaching $21.15. The stock had a trading volume of 2,333,802 shares, compared to its average volume of 1,526,845. 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 $6.01 and a 12-month high of $25.29. The business's 50-day moving average price is $18.08 and its two-hundred day moving average price is $18.74. The company has a market cap of $1.88 billion, a P/E ratio of -5.16 and a beta of 0.84.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $81.73 million during the quarter, compared to analyst estimates of $77.44 million. During the same period in the prior year, the business earned ($1.76) earnings per share. The business's revenue was up 83.3% compared to the same quarter last year. Sell-side analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Travere Therapeutics from $22.00 to $23.00 and gave the stock a "hold" rating in a research report on Friday. Guggenheim reissued a "buy" rating and issued a $47.00 price objective on shares of Travere Therapeutics in a research report on Monday, April 14th. Canaccord Genuity Group lifted 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. Evercore ISI raised their price target on Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Travere Therapeutics in a report on Friday, April 11th. Two equities research 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, Travere Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $31.79.

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.