Parkman Healthcare Partners LLC Grows Stock Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Parkman Healthcare Partners LLC lifted its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,117,792 shares of the company's stock after purchasing an additional 31,725 shares during the quarter. Travere Therapeutics comprises about 2.6% of Parkman Healthcare Partners LLC's holdings, making the stock its 12th largest holding. Parkman Healthcare Partners LLC owned 1.43% of Travere Therapeutics worth $19,472,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TVTX. Sterling Capital Management LLC increased its holdings in shares of 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 purchasing an additional 2,115 shares during the last quarter. R Squared Ltd purchased a new position in Travere Therapeutics in the fourth quarter worth approximately $53,000. Gen Wealth Partners Inc purchased a new position in Travere Therapeutics in the fourth quarter worth approximately $73,000. Summit Investment Advisors Inc. grew its position in Travere Therapeutics by 9.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company's stock worth $138,000 after acquiring an additional 667 shares during the period. Finally, Victory Capital Management Inc. purchased a new position in Travere Therapeutics in the fourth quarter worth approximately $182,000.

Travere Therapeutics Stock Down 20.6%

Shares of NASDAQ TVTX traded down $4.35 during mid-day trading on Friday, hitting $16.80. The company had a trading volume of 5,965,164 shares, compared to its average volume of 1,561,274. The company has a market capitalization of $1.49 billion, a PE ratio of -4.10 and a beta of 0.88. 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 $6.01 and a 1-year high of $25.29. The business's 50-day simple moving average is $18.25 and its 200 day simple moving average is $18.90.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings data 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. 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 for the quarter, compared to analysts' expectations of $77.44 million. During the same period last year, the firm earned ($1.76) earnings per share. The company's revenue for the quarter was up 83.3% compared to the same quarter last year. On average, analysts predict that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Insider Buying and Selling at Travere Therapeutics

In other news, CFO Christopher R. Cline sold 1,784 shares of Travere Therapeutics stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $37,553.20. Following the sale, the chief financial officer now owns 93,126 shares in the company, valued at approximately $1,960,302.30. The trade was a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter Heerma sold 1,771 shares of Travere Therapeutics stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $37,279.55. Following the sale, the insider now owns 128,215 shares in the company, valued at $2,698,925.75. This trade represents a 1.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,527 shares of company stock worth $473,814 over the last ninety days. Corporate insiders own 4.19% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Cantor Fitzgerald reiterated an "overweight" rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. Bank of America increased their price objective on Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Guggenheim reiterated a "buy" rating and issued a $47.00 price objective on shares of Travere Therapeutics in a research report on Monday, April 14th. Stifel Nicolaus increased their price objective on Travere Therapeutics from $22.00 to $23.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Finally, Canaccord Genuity Group increased their price objective on Travere Therapeutics from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $31.79.

Travere Therapeutics 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.