94,656 Shares in Travere Therapeutics, Inc. $TVTX Bought by Cinctive Capital Management LP

Cinctive Capital Management LP bought a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 94,656 shares of the company’s stock, valued at approximately $2,262,000.

A number of other large investors have also recently bought and sold shares of TVTX. Vanguard Group Inc. raised its position in shares of Travere Therapeutics by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,613,368 shares of the company’s stock worth $158,059,000 after acquiring an additional 619,085 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Travere Therapeutics by 27.4% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company’s stock valued at $41,203,000 after purchasing an additional 599,102 shares in the last quarter. Emerald Advisers LLC boosted its position in shares of Travere Therapeutics by 2.6% during the 3rd quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company’s stock valued at $51,308,000 after purchasing an additional 55,407 shares in the last quarter. Geode Capital Management LLC grew its stake in Travere Therapeutics by 1.4% during the second quarter. Geode Capital Management LLC now owns 2,003,701 shares of the company’s stock worth $29,658,000 after purchasing an additional 27,040 shares during the period. Finally, Stephens Investment Management Group LLC acquired a new stake in Travere Therapeutics during the third quarter worth approximately $38,232,000.

Insider Activity

In related news, insider Peter Heerma sold 7,310 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $32.12, for a total value of $234,797.20. Following the transaction, the insider directly owned 131,823 shares in the company, valued at $4,234,154.76. This trade represents a 5.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric M. Dube sold 100,087 shares of Travere Therapeutics stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $32.28, for a total transaction of $3,230,808.36. Following the completion of the sale, the chief executive officer directly owned 432,886 shares of the company’s stock, valued at approximately $13,973,560.08. The trade was a 18.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 311,925 shares of company stock valued at $10,618,555. Corporate insiders own 4.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wall Street Zen lowered Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. HC Wainwright reaffirmed a “buy” rating and set a $47.00 price objective on shares of Travere Therapeutics in a research report on Friday, November 28th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Guggenheim reiterated a “buy” rating and set a $49.00 target price on shares of Travere Therapeutics in a research report on Wednesday, January 14th. Finally, Piper Sandler increased their target price on shares of Travere Therapeutics from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Ten equities research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.17.

Travere Therapeutics Stock Up 0.8%

TVTX stock opened at $28.03 on Tuesday. The stock’s 50 day simple moving average is $29.95 and its 200 day simple moving average is $30.26. The company has a market cap of $2.59 billion, a P/E ratio of -93.43 and a beta of 0.81. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.70 and a current ratio of 2.74. Travere Therapeutics, Inc. has a fifty-two week low of $12.91 and a fifty-two week high of $42.13.

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.