Travere Therapeutics, Inc. $TVTX Stake Cut by First Trust Advisors LP

First Trust Advisors LP decreased its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 21.4% in the 1st quarter, Holdings Channel reports. The firm owned 268,549 shares of the company’s stock after selling 73,175 shares during the quarter. First Trust Advisors LP’s holdings in Travere Therapeutics were worth $7,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp lifted its position in shares of Travere Therapeutics by 47.8% in the 4th quarter. State Street Corp now owns 4,756,666 shares of the company’s stock worth $181,752,000 after buying an additional 1,538,827 shares during the last quarter. Perceptive Advisors LLC grew its position in shares of Travere Therapeutics by 12.7% during the 4th quarter. Perceptive Advisors LLC now owns 4,278,180 shares of the company’s stock valued at $163,469,000 after buying an additional 483,565 shares during the last quarter. Adage Capital Partners GP L.L.C. grew 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 buying an additional 599,102 shares during the last quarter. Renaissance Technologies LLC raised its stake in Travere Therapeutics by 28.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,246,779 shares of the company’s stock worth $85,849,000 after acquiring an additional 494,665 shares during the period. Finally, Rock Springs Capital Management LP raised its stake in Travere Therapeutics by 2.1% during the fourth quarter. Rock Springs Capital Management LP now owns 2,210,322 shares of the company’s stock worth $84,456,000 after acquiring an additional 45,549 shares during the period.

Insiders Place Their Bets

In related news, CEO Eric M. Dube sold 22,500 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $43.95, for a total value of $988,875.00. Following the completion of the transaction, the chief executive officer owned 432,886 shares in the company, valued at $19,025,339.70. This represents a 4.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.07, for a total transaction of $500,700.00. Following the transaction, the director directly owned 56,250 shares in the company, valued at approximately $2,816,437.50. The trade was a 15.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 103,663 shares of company stock valued at $4,730,462. Corporate insiders own 4.44% of the company’s stock.

Travere Therapeutics Trading Down 2.4%

Shares of TVTX stock opened at $55.89 on Friday. 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 $15.03 and a 1 year high of $60.10. The stock has a fifty day moving average of $53.56 and a two-hundred day moving average of $40.24. The firm has a market capitalization of $5.20 billion, a PE ratio of -242.99 and a beta of 1.10.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.29. The company had revenue of $127.20 million during the quarter, compared to analysts’ expectations of $136.23 million. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The company’s revenue for the quarter was up 55.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.47) earnings per share. As a group, research analysts expect that Travere Therapeutics, Inc. will post -0.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. 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 note on Tuesday, June 2nd. TD Cowen increased their price target on Travere Therapeutics from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Wedbush raised their price target on Travere Therapeutics from $55.00 to $61.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. Piper Sandler upgraded Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price objective for the company in a research report on Tuesday, April 14th. Finally, Wells Fargo & Company upped their price objective on Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.58.

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.