Two Sigma Investments LP Purchases 332,933 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Two Sigma Investments LP grew its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 92.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 693,016 shares of the company’s stock after purchasing an additional 332,933 shares during the period. Two Sigma Investments LP owned about 0.89% of Travere Therapeutics worth $12,072,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Entropy Technologies LP bought a new stake in Travere Therapeutics during the fourth quarter worth about $214,000. US Bancorp DE lifted its stake in Travere Therapeutics by 323.4% during the fourth quarter. US Bancorp DE now owns 31,795 shares of the company’s stock worth $554,000 after purchasing an additional 24,286 shares during the last quarter. Northern Trust Corp lifted its stake in Travere Therapeutics by 11.3% during the fourth quarter. Northern Trust Corp now owns 754,395 shares of the company’s stock worth $13,142,000 after purchasing an additional 76,358 shares during the last quarter. Swiss National Bank lifted its stake in Travere Therapeutics by 12.8% during the fourth quarter. Swiss National Bank now owns 151,900 shares of the company’s stock worth $2,646,000 after purchasing an additional 17,200 shares during the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Travere Therapeutics in the fourth quarter worth about $14,222,000.

Insiders Place Their Bets

In other Travere Therapeutics news, CEO Eric M. Dube sold 18,924 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $398,350.20. Following the transaction, the chief executive officer now owns 419,173 shares in the company, valued at approximately $8,823,591.65. This represents a 4.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher R. Cline sold 1,784 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $37,553.20. Following the transaction, the chief financial officer now owns 93,126 shares in the company, valued at $1,960,302.30. This trade represents a 1.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,527 shares of company stock worth $473,814. Company insiders own 4.19% of the company’s stock.

Travere Therapeutics Stock Up 0.9%

Shares of NASDAQ:TVTX opened at $15.84 on Friday. Travere Therapeutics, Inc. has a 1 year low of $6.14 and a 1 year high of $25.29. The company has a market cap of $1.41 billion, a PE ratio of -3.86 and a beta of 0.88. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The stock’s 50-day moving average is $17.93 and its 200 day moving average is $18.86.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.08. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The company had revenue of $81.73 million for the quarter, compared to the consensus estimate of $77.44 million. During the same quarter in the previous year, the business earned ($1.76) EPS. Travere Therapeutics’s revenue was up 83.3% compared to the same quarter last year. Sell-side analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Scotiabank reiterated an “outperform” rating on shares of Travere Therapeutics in a report on Friday, April 11th. Bank of America lifted their price objective on Travere Therapeutics from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. Citigroup reiterated a “buy” rating on shares of Travere Therapeutics in a report on Friday, May 16th. Wedbush reiterated an “outperform” rating and issued a $30.00 price objective on shares of Travere Therapeutics in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Travere Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $31.79.

Travere Therapeutics Profile

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.