Elmind Capital LP Invests $4.20 Million in Travere Therapeutics, Inc. $TVTX

Elmind Capital LP acquired a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 110,000 shares of the company’s stock, valued at approximately $4,203,000. Travere Therapeutics comprises 1.2% of Elmind Capital LP’s holdings, making the stock its 21st largest position. Elmind Capital LP owned about 0.12% of Travere Therapeutics at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TVTX. State of Wyoming bought a new stake in shares of Travere Therapeutics in the 4th quarter valued at about $37,000. Torren Management LLC bought a new stake in shares of Travere Therapeutics in the 4th quarter valued at about $38,000. Comerica Bank raised its holdings in shares of Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after purchasing an additional 492 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Travere Therapeutics by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock valued at $45,000 after purchasing an additional 487 shares during the period. Finally, Garner Asset Management Corp bought a new stake in shares of Travere Therapeutics in the 4th quarter valued at about $69,000.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TVTX. Wells Fargo & Company upped their target price on shares of Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, June 12th. JPMorgan Chase & Co. dropped their target price on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. Canaccord Genuity Group upped their target price on shares of Travere Therapeutics from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Guggenheim upped their target price on shares of Travere Therapeutics from $54.00 to $56.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, Weiss Ratings raised shares of Travere Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 21st. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.83.

Travere Therapeutics Stock Up 1.4%

Travere Therapeutics stock opened at $54.14 on Thursday. The stock has a market cap of $5.03 billion, a P/E ratio of -235.38 and a beta of 1.13. The company has a quick ratio of 3.08, a current ratio of 3.13 and a debt-to-equity ratio of 3.16. Travere Therapeutics, Inc. has a twelve month low of $13.88 and a twelve month high of $55.11. The company’s 50-day moving average price is $43.07 and its two-hundred day moving average price is $35.63.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.29. The firm had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $136.23 million. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The business’s revenue was up 55.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.47) EPS. As a group, analysts expect that Travere Therapeutics, Inc. will post -0.29 EPS for the current year.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, insider Jula Inrig sold 20,000 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $45.00, for a total value of $900,000.00. Following the transaction, the insider directly owned 111,473 shares of the company’s stock, valued at $5,016,285. This represents a 15.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Sandra Calvin sold 21,977 shares of the stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $41.07, for a total transaction of $902,595.39. Following the completion of the transaction, the chief accounting officer directly owned 42,353 shares in the company, valued at approximately $1,739,437.71. This represents a 34.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 404,515 shares of company stock worth $16,340,228. 4.44% of the stock is currently owned by insiders.

About Travere Therapeutics

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.