Travere Therapeutics, Inc. $TVTX Shares Sold by Penn Capital Management Company LLC

Penn Capital Management Company LLC trimmed its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 56.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,867 shares of the company’s stock after selling 15,137 shares during the period. Penn Capital Management Company LLC’s holdings in Travere Therapeutics were worth $453,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Arizona State Retirement System grew its holdings in Travere Therapeutics by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 24,964 shares of the company’s stock worth $597,000 after acquiring an additional 375 shares in the last quarter. Comerica Bank grew its holdings in Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after acquiring an additional 492 shares in the last quarter. ProShare Advisors LLC grew its holdings in Travere Therapeutics by 4.1% during the 4th quarter. ProShare Advisors LLC now owns 19,007 shares of the company’s stock worth $726,000 after acquiring an additional 756 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Travere Therapeutics by 26.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,348 shares of the company’s stock worth $166,000 after acquiring an additional 902 shares in the last quarter. Finally, Torren Management LLC acquired a new position in Travere Therapeutics during the 4th quarter worth $38,000.

Wall Street Analyst Weigh In

TVTX has been the subject of several recent analyst reports. Wall Street Zen lowered shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. TD Cowen raised their price objective on shares of Travere Therapeutics from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Wedbush raised their price objective on shares of Travere Therapeutics from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Weiss Ratings raised shares of Travere Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 21st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, March 25th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.83.

Insider Buying and Selling

In other news, CAO Sandra Calvin sold 21,977 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $41.07, for a total value of $902,595.39. Following the transaction, the chief accounting officer directly owned 42,353 shares in the company, valued at approximately $1,739,437.71. This trade represents a 34.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy D. Baynes sold 32,750 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $41.29, for a total transaction of $1,352,247.50. Following the completion of the transaction, the director owned 37,500 shares in the company, valued at approximately $1,548,375. The trade was a 46.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 400,015 shares of company stock worth $15,895,428. Company insiders own 4.44% of the company’s stock.

Travere Therapeutics Trading Up 7.8%

Travere Therapeutics stock opened at $47.76 on Thursday. The firm’s 50-day moving average is $37.14 and its 200-day moving average is $34.24. The company has a debt-to-equity ratio of 3.16, a quick ratio of 3.08 and a current ratio of 3.13. Travere Therapeutics, Inc. has a 1 year low of $13.88 and a 1 year high of $48.61. The company has a market cap of $4.44 billion, a P/E ratio of -207.64 and a beta of 1.13.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.29. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The company had revenue of $127.20 million for the quarter, compared to the consensus estimate of $136.23 million. During the same period last year, the firm posted ($0.47) EPS. The company’s revenue for the quarter was up 55.6% on a year-over-year basis. On average, equities analysts expect that Travere Therapeutics, Inc. will post -0.26 earnings per share for the current year.

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.