Penserra Capital Management LLC Buys Shares of 80,556 Travere Therapeutics, Inc. $TVTX

Penserra Capital Management LLC bought a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 80,556 shares of the company’s stock, valued at approximately $1,925,000. Penserra Capital Management LLC owned about 0.09% of Travere Therapeutics at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of Travere Therapeutics during the second quarter worth about $33,000. First Horizon Corp purchased a new stake in Travere Therapeutics during the third quarter worth approximately $36,000. Headlands Technologies LLC purchased a new position in Travere Therapeutics in the second quarter valued at approximately $73,000. Atria Investments Inc purchased a new stake in shares of Travere Therapeutics during the 2nd quarter worth approximately $154,000. Finally, Gallagher Fiduciary Advisors LLC acquired a new position in shares of Travere Therapeutics in the 2nd quarter valued at $155,000.

Wall Street Analyst Weigh In

TVTX has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $47.00 price objective on shares of Travere Therapeutics in a research note on Friday, November 28th. Wall Street Zen upgraded shares of Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 13th. Citigroup increased their price objective on Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Guggenheim reiterated a “buy” rating and issued a $49.00 price target on shares of Travere Therapeutics in a report on Wednesday, January 14th. Finally, Zacks Research cut shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Twelve analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Travere Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $39.07.

Insider Activity

In other news, CEO Eric M. Dube sold 100,087 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $32.28, for a total value of $3,230,808.36. Following the completion of the sale, the chief executive officer owned 432,886 shares of the company’s stock, valued at $13,973,560.08. This represents a 18.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Elizabeth E. Reed sold 2,994 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $32.18, for a total transaction of $96,346.92. Following the completion of the transaction, the insider directly owned 105,211 shares in the company, valued at approximately $3,385,689.98. This represents a 2.77% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 331,925 shares of company stock worth $11,318,755. Insiders own 4.19% of the company’s stock.

Travere Therapeutics Stock Up 0.8%

TVTX opened at $29.71 on Friday. Travere Therapeutics, Inc. has a 12 month low of $12.91 and a 12 month high of $42.13. The business has a 50-day moving average of $33.76 and a two-hundred day moving average of $27.89. The company has a debt-to-equity ratio of 4.23, a current ratio of 2.75 and a quick ratio of 2.71. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of -28.03, a price-to-earnings-growth ratio of 0.82 and a beta of 0.83.

Travere Therapeutics Profile

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.