Crestline Management LP Boosts Stock Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Crestline Management LP raised its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 53.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 185,840 shares of the company's stock after purchasing an additional 65,115 shares during the period. Crestline Management LP owned 0.24% of Travere Therapeutics worth $3,237,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC raised its position in shares of 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 acquiring an additional 2,115 shares during the last quarter. R Squared Ltd bought a new position in Travere Therapeutics during the 4th quarter worth approximately $53,000. Summit Investment Advisors Inc. lifted its position in shares of Travere Therapeutics by 9.2% in the 4th 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. bought a new stake in shares of Travere Therapeutics in the 4th quarter valued at $182,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth $192,000.

Wall Street Analysts Forecast Growth

TVTX has been the topic of a number of research analyst reports. Scotiabank reaffirmed an "outperform" rating on shares of Travere Therapeutics in a research report on Friday, April 11th. Cantor Fitzgerald restated an "overweight" rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. Bank of America lifted their target price on Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Stifel Nicolaus increased their price target on Travere Therapeutics from $22.00 to $23.00 and gave the stock a "hold" rating in a report on Friday, May 2nd. Finally, Wedbush reiterated an "outperform" rating and issued a $30.00 price objective on shares of Travere Therapeutics in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Travere Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $31.79.

Insider Activity

In related news, CAO Sandra Calvin sold 54,244 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the completion of the sale, the chief accounting officer now directly 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 legal filing with the SEC, which can be accessed through this link. Also, SVP William E. Rote sold 5,200 shares of Travere Therapeutics stock in a transaction on Wednesday, February 12th. The stock was 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 in the company, valued at $2,318,152.07. This trade represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,420 shares of company stock worth $2,302,575 over the last quarter. Insiders own 4.19% of the company's stock.

Travere Therapeutics Stock Down 2.1 %

NASDAQ TVTX traded down $0.42 during trading hours on Friday, hitting $20.02. The company's stock had a trading volume of 1,260,658 shares, compared to its average volume of 1,534,568. The company has a market capitalization of $1.78 billion, a PE ratio of -4.88 and a beta of 0.88. 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 52 week low of $6.01 and a 52 week high of $25.29. The company's 50-day simple moving average is $18.07 and its two-hundred day simple moving average is $18.82.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.08. The company had revenue of $81.73 million for the quarter, compared to analysts' expectations of $77.44 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. Travere Therapeutics's quarterly revenue was up 83.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.76) earnings per share. Research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

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.