Corton Capital Inc. Makes New $159,000 Investment in Travere Therapeutics, Inc. $TVTX

Corton Capital Inc. acquired a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 10,732 shares of the company’s stock, valued at approximately $159,000.

Other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new stake in Travere Therapeutics in the first quarter valued at about $62,000. KBC Group NV acquired a new stake in Travere Therapeutics during the first quarter valued at approximately $75,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Travere Therapeutics during the first quarter valued at approximately $182,000. Atria Investments Inc bought a new stake in shares of Travere Therapeutics in the 2nd quarter valued at approximately $154,000. Finally, Cerity Partners LLC acquired a new position in shares of Travere Therapeutics in the 1st quarter worth approximately $217,000.

Travere Therapeutics Price Performance

Shares of TVTX stock opened at $34.13 on Wednesday. Travere Therapeutics, Inc. has a 52 week low of $12.91 and a 52 week high of $36.15. The stock has a market capitalization of $3.04 billion, a PE ratio of -16.73 and a beta of 0.83. The company has a debt-to-equity ratio of 9.50, a quick ratio of 1.98 and a current ratio of 2.00. The stock’s fifty day moving average is $25.18 and its 200-day moving average is $19.68.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.59. The business had revenue of $113.15 million during the quarter, compared to analysts’ expectations of $106.09 million. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The firm’s revenue for the quarter was up 162.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.70) earnings per share. Equities research analysts expect that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Insider Activity at Travere Therapeutics

In other news, CEO Eric M. Dube sold 92,872 shares of the stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $30.38, for a total transaction of $2,821,451.36. Following the sale, the chief executive officer directly owned 419,173 shares of the company’s stock, valued at $12,734,475.74. This represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Peter Heerma sold 5,591 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $35.00, for a total transaction of $195,685.00. Following the completion of the sale, the insider directly owned 119,071 shares of the company’s stock, valued at approximately $4,167,485. This represents a 4.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 156,826 shares of company stock valued at $4,805,240. Insiders own 4.19% of the company’s stock.

Analyst Upgrades and Downgrades

TVTX has been the topic of several recent analyst reports. Citigroup boosted their price target on Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Scotiabank reissued an “outperform” rating on shares of Travere Therapeutics in a report on Thursday, August 7th. HC Wainwright restated a “buy” rating and issued a $47.00 target price on shares of Travere Therapeutics in a research note on Friday, September 19th. Jefferies Financial Group set a $35.00 target price on shares of Travere Therapeutics in a report on Wednesday, September 10th. Finally, Zacks Research raised shares of Travere Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $38.71.

About Travere Therapeutics

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.