Quantbot Technologies LP Invests $446,000 in Travere Therapeutics, Inc. $TVTX

Quantbot Technologies LP purchased a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,851 shares of the company’s stock, valued at approximately $446,000.

Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Travere Therapeutics during the second quarter worth about $33,000. GAMMA Investing LLC boosted its holdings in Travere Therapeutics by 53.4% in the 2nd quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after purchasing an additional 211 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of Travere Therapeutics in the 1st quarter valued at approximately $35,000. State of Wyoming purchased a new stake in shares of Travere Therapeutics in the 4th quarter valued at approximately $37,000. Finally, Torren Management LLC acquired a new stake in shares of Travere Therapeutics during the 4th quarter worth approximately $38,000.

Travere Therapeutics Stock Performance

Shares of Travere Therapeutics stock opened at $65.67 on Friday. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of -142.76 and a beta of 1.12. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.99. The business has a 50-day moving average of $59.34 and a 200 day moving average of $44.84. Travere Therapeutics, Inc. has a 12 month low of $17.27 and a 12 month high of $67.85.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.03. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The business had revenue of $169.58 million for the quarter, compared to analysts’ expectations of $157.27 million. During the same quarter in the prior year, the company earned $0.13 earnings per share. The business’s quarterly revenue was up 48.2% on a year-over-year basis. As a group, sell-side analysts forecast that Travere Therapeutics, Inc. will post -0.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on TVTX. Wells Fargo & Company upped their price objective on Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Wedbush raised their target price on Travere Therapeutics from $61.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. HC Wainwright lifted their target price on Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Citigroup upped their price target on Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Guggenheim increased their price target on Travere Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.67.

Insider Buying and Selling

In other Travere Therapeutics news, Director Roy D. Baynes sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $50.00, for a total value of $225,000.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $50.07, for a total transaction 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. This trade represents a 15.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.44% of the stock is owned by corporate insiders.

Travere Therapeutics Company 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.