Renaissance Technologies LLC Sells 280,000 Shares of Travere Therapeutics, Inc. $TVTX

Renaissance Technologies LLC lowered its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 12.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,966,779 shares of the company’s stock after selling 280,000 shares during the quarter. Renaissance Technologies LLC’s holdings in Travere Therapeutics were worth $58,433,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Palisades Investment Partners LLC bought a new stake in shares of Travere Therapeutics during the fourth quarter worth about $5,264,000. Hennion & Walsh Asset Management Inc. increased its holdings in Travere Therapeutics by 169.6% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 99,229 shares of the company’s stock worth $3,792,000 after purchasing an additional 62,419 shares in the last quarter. Stephens Investment Management Group LLC raised its stake in shares of Travere Therapeutics by 7.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,721,623 shares of the company’s stock worth $65,783,000 after purchasing an additional 121,955 shares during the last quarter. Profund Advisors LLC lifted its holdings in shares of Travere Therapeutics by 209.3% in the fourth quarter. Profund Advisors LLC now owns 62,604 shares of the company’s stock valued at $2,392,000 after purchasing an additional 42,366 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new stake in Travere Therapeutics during the fourth quarter worth $1,104,000.

Analyst Ratings Changes

Several equities analysts have weighed in on TVTX shares. Piper Sandler upgraded Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price objective on the stock in a research note on Tuesday, April 14th. Wedbush boosted their price target on shares of Travere Therapeutics from $55.00 to $61.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. TD Cowen increased their price objective on shares of Travere Therapeutics from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Guggenheim boosted their target price on Travere Therapeutics from $56.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Finally, Citigroup boosted their price objective on Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.08.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $57.36 on Monday. The firm has a market capitalization of $5.33 billion, a P/E ratio of -249.38 and a beta of 1.10. Travere Therapeutics, Inc. has a one year low of $15.03 and a one year high of $60.10. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08. The business has a fifty day moving average price of $52.29 and a 200-day moving average price of $39.54.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.29. The company had revenue of $127.20 million for the quarter, compared to analyst estimates of $136.23 million. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The firm’s revenue for the quarter was up 55.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.47) EPS. As a group, equities research analysts forecast that Travere Therapeutics, Inc. will post -0.31 EPS for the current year.

Insider Buying and Selling at Travere Therapeutics

In other news, insider Elizabeth E. Reed sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $45.00, for a total value of $900,000.00. Following the completion of the transaction, the insider directly owned 105,211 shares in the company, valued at approximately $4,734,495. This trade represents a 15.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Roy D. Baynes sold 9,750 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $44.22, for a total transaction of $431,145.00. Following the transaction, the director directly owned 37,500 shares of the company’s stock, valued at approximately $1,658,250. This represents a 20.63% decrease in their position. 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. Over the last ninety days, insiders have sold 113,413 shares of company stock worth $5,161,607. 4.44% of the stock is owned by corporate insiders.

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.