Quantinno Capital Management LP Grows Holdings in Travere Therapeutics, Inc. $TVTX

Quantinno Capital Management LP increased its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 354.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,317 shares of the company’s stock after buying an additional 53,283 shares during the period. Quantinno Capital Management LP’s holdings in Travere Therapeutics were worth $2,030,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TVTX. Raymond James Financial Inc. purchased a new position in Travere Therapeutics in the 2nd quarter valued at about $33,000. Fifth Third Bancorp purchased a new stake in shares of Travere Therapeutics during the first quarter worth about $35,000. State of Wyoming acquired a new position in shares of Travere Therapeutics in the fourth quarter worth about $37,000. Torren Management LLC acquired a new position in shares of Travere Therapeutics in the fourth quarter worth about $38,000. Finally, Comerica Bank boosted its holdings in Travere Therapeutics by 77.5% in the fourth 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 last quarter.

Analyst Ratings Changes

A number of brokerages have weighed in on TVTX. Canaccord Genuity Group raised their price objective on Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Piper Sandler upgraded Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 target price for the company in a research note on Tuesday, April 14th. Guggenheim raised their price target on shares of Travere Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Wells Fargo & Company lifted their price target on shares of Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Finally, Weiss Ratings cut shares of Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $61.67.

Travere Therapeutics Stock Down 1.1%

NASDAQ:TVTX opened at $60.21 on Wednesday. The company has a debt-to-equity ratio of 24.58, a quick ratio of 3.99 and a current ratio of 4.05. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of -130.89 and a beta of 1.12. Travere Therapeutics, Inc. has a one year low of $17.05 and a one year high of $66.24. The stock has a 50-day simple moving average of $55.54 and a 200 day simple moving average of $41.83.

Insider Buying and Selling

In other Travere Therapeutics news, Director Roy D. Baynes sold 4,500 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $50.00, for a total transaction of $225,000.00. Following the transaction, the director owned 41,500 shares of the company’s stock, valued at $2,075,000. This trade represents a 9.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of Travere Therapeutics stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $50.07, for a total value of $500,700.00. Following the completion of the transaction, the director owned 56,250 shares of the company’s stock, valued at approximately $2,816,437.50. The trade was a 15.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.44% of the company’s stock.

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.