AQR Capital Management LLC Acquires 229,361 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

AQR Capital Management LLC increased its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 117.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 424,024 shares of the company's stock after acquiring an additional 229,361 shares during the period. AQR Capital Management LLC owned about 0.54% of Travere Therapeutics worth $7,386,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Diversified Trust Co boosted its holdings in shares of Travere Therapeutics by 27.5% in the 4th quarter. Diversified Trust Co now owns 14,701 shares of the company's stock worth $256,000 after buying an additional 3,169 shares during the last quarter. R Squared Ltd purchased a new position in Travere Therapeutics in the fourth quarter valued at about $53,000. Baader Bank Aktiengesellschaft bought a new position in shares of Travere Therapeutics during the 4th quarter valued at approximately $192,000. China Universal Asset Management Co. Ltd. grew its position in shares of Travere Therapeutics by 23.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,206 shares of the company's stock valued at $317,000 after acquiring an additional 3,494 shares during the period. Finally, Jennison Associates LLC purchased a new stake in shares of Travere Therapeutics during the 4th quarter worth approximately $14,222,000.

Travere Therapeutics Price Performance

Travere Therapeutics stock traded down $0.42 during mid-day trading on Friday, hitting $20.02. 1,260,658 shares of the company traded hands, compared to its average volume of 1,534,568. The stock has a fifty day moving average price of $18.07 and a 200-day moving average price of $18.82. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -4.88 and a beta of 0.88. Travere Therapeutics, Inc. has a one year low of $6.01 and a one year high of $25.29. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

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

Insiders Place Their Bets

In related news, SVP William E. Rote sold 5,200 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $23.53, for a total transaction of $122,356.00. Following the transaction, the senior vice president now owns 98,519 shares of the company's stock, valued at approximately $2,318,152.07. This trade represents a 5.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter Heerma sold 3,074 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total transaction of $76,850.00. Following the completion of the sale, the insider now directly owns 127,634 shares of the company's stock, valued at $3,190,850. This represents a 2.35 % 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 valued at $2,302,575 over the last quarter. 4.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TVTX has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. HC Wainwright boosted their price objective on Travere Therapeutics from $18.00 to $22.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. Canaccord Genuity Group boosted their price target on shares of Travere Therapeutics from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Thursday, April 10th. Finally, Stifel Nicolaus lifted their price objective on shares of Travere Therapeutics from $22.00 to $23.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Travere Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target 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.