96,677 Shares of Travere Therapeutics, Inc. $TVTX Purchased by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC purchased a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 96,677 shares of the company’s stock, valued at approximately $5,692,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 211 shares during the last quarter. Fifth Third Bancorp acquired a new position in Travere Therapeutics during the first quarter worth $35,000. Allworth Financial LP acquired a new position in Travere Therapeutics during the second quarter worth $47,000. Integrated Wealth Concepts LLC bought a new stake in Travere Therapeutics during the second quarter worth $70,000. Finally, Rockefeller Capital Management L.P. raised its position in Travere Therapeutics by 1,604.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,642 shares of the company’s stock worth $101,000 after acquiring an additional 2,487 shares in the last quarter.

Insider Buying and Selling

In other news, CEO Eric Dube sold 195,841 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $63.45, for a total transaction of $12,426,111.45. Following the transaction, the chief executive officer owned 432,886 shares in the company, valued at approximately $27,466,616.70. This trade represents a 31.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Rote sold 112,850 shares of Travere Therapeutics stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $63.33, for a total value of $7,146,790.50. Following the sale, the insider directly owned 98,197 shares of the company’s stock, valued at approximately $6,218,816.01. The trade was a 53.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,050,294 shares of company stock valued at $66,336,443 in the last ninety days. 4.44% of the stock is currently owned by company insiders.

Travere Therapeutics Stock Performance

Shares of TVTX stock traded up $0.45 during midday trading on Friday, hitting $52.48. 366,041 shares of the company were exchanged, compared to its average volume of 2,003,875. Travere Therapeutics, Inc. has a 52 week low of $22.59 and a 52 week high of $68.73. The firm has a market capitalization of $4.95 billion, a P/E ratio of -114.03 and a beta of 1.13. The firm’s 50 day moving average price is $62.29 and its two-hundred day moving average price is $51.74. The company has a debt-to-equity ratio of 24.58, a quick ratio of 3.99 and a current ratio of 4.05.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.03. The firm had revenue of $169.58 million for the quarter, compared to analysts’ expectations of $157.27 million. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The business’s revenue was up 48.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 EPS. As a group, equities research analysts anticipate that Travere Therapeutics, Inc. will post -0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company lifted their price objective on shares of Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. HC Wainwright reiterated a “buy” rating and set a $67.00 price target on shares of Travere Therapeutics in a report on Tuesday, September 22nd. Evercore set a $78.00 price target on Travere Therapeutics in a research report on Monday, August 10th. Citigroup upped their price objective 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, 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 report on Thursday, August 6th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Travere Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $69.50.

About Travere Therapeutics

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare kidney and immune-mediated diseases. The company’s work centers on conditions with limited treatment options, including IgA nephropathy (IgAN) and focal segmental glomerulosclerosis (FSGS).

Travere’s lead commercial product is FILSPARI (sparsentan), an oral treatment approved in the United States for certain adults with primary IgAN who are at risk of disease progression.