Corient Private Wealth LP Invests $2.73 Million in Travere Therapeutics, Inc. $TVTX

Corient Private Wealth LP acquired a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the 2nd quarter, HoldingsChannel reports. The fund acquired 48,073 shares of the company’s stock, valued at approximately $2,731,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TVTX. Jupiter Topco LLC bought a new position in Travere Therapeutics in the 2nd quarter worth $643,299,000. State Street Corp lifted its position in Travere Therapeutics by 47.8% during the 4th quarter. State Street Corp now owns 4,756,666 shares of the company’s stock worth $181,752,000 after acquiring an additional 1,538,827 shares during the last quarter. Bank of America Corp DE bought a new stake in Travere Therapeutics during the second quarter valued at about $259,527,000. Perceptive Advisors LLC boosted its holdings in Travere Therapeutics by 12.7% during the fourth quarter. Perceptive Advisors LLC now owns 4,278,180 shares of the company’s stock valued at $163,469,000 after acquiring an additional 483,565 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of Travere Therapeutics by 27.4% in the second 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 during the last quarter.

Travere Therapeutics Stock Down 0.9%

Shares of TVTX opened at $65.71 on Wednesday. The company has a debt-to-equity ratio of 24.58, a quick ratio of 3.99 and a current ratio of 4.05. The company has a 50-day simple moving average of $59.76 and a 200-day simple moving average of $45.45. Travere Therapeutics, Inc. has a 52 week low of $17.27 and a 52 week high of $67.85. The firm has a market capitalization of $6.19 billion, a P/E ratio of -142.84 and a beta of 1.05.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.03. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.The business had revenue of $169.58 million for the quarter, compared to the consensus estimate of $157.27 million. During the same period last year, the business earned $0.13 earnings per share. The firm’s revenue for the quarter was up 48.2% compared to the same quarter last year. On average, equities research analysts expect that Travere Therapeutics, Inc. will post -0.56 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Roy D. Baynes sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $50.00, for a total value of $225,000.00. Following the sale, the director directly owned 41,500 shares in the company, valued at approximately $2,075,000. This represents a 9.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $50.07, for a total transaction of $500,700.00. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.44% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TVTX shares. HC Wainwright lifted their price objective on Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Guggenheim raised their target price on Travere Therapeutics from $65.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Evercore set a $78.00 price target on Travere Therapeutics in a research report on Monday, August 10th. Citigroup upped their price target on Travere Therapeutics from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings cut Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 23rd. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $61.67.

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.