Y Intercept Hong Kong Ltd Acquires 77,793 Shares of Travere Therapeutics, Inc. $TVTX

Y Intercept Hong Kong Ltd increased its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 196.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,361 shares of the company’s stock after buying an additional 77,793 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Travere Therapeutics were worth $3,487,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its position in Travere Therapeutics by 69.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock worth $45,000 after purchasing an additional 487 shares during the period. Comerica Bank lifted its holdings in shares of Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after acquiring an additional 492 shares during the period. ProShare Advisors LLC increased its stake in Travere Therapeutics by 4.1% in the fourth quarter. ProShare Advisors LLC now owns 19,007 shares of the company’s stock valued at $726,000 after acquiring an additional 756 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Travere Therapeutics by 26.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,348 shares of the company’s stock worth $166,000 after acquiring an additional 902 shares during the last quarter. Finally, State of Wyoming bought a new position in Travere Therapeutics during the 4th quarter worth approximately $37,000.

Insider Buying and Selling

In other news, insider Elizabeth E. Reed sold 2,076 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $43.95, for a total transaction of $91,240.20. Following the transaction, the insider directly owned 105,211 shares of the company’s stock, valued at approximately $4,624,023.45. The trade was a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 Timothy Coughlin sold 10,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $50.07, for a total transaction of $500,700.00. Following the sale, the director directly owned 56,250 shares of the company’s stock, valued at approximately $2,816,437.50. The trade was a 15.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 324,515 shares of company stock valued at $13,854,428. 4.44% of the stock is owned by insiders.

Travere Therapeutics Stock Performance

Shares of TVTX traded up $0.64 during mid-day trading on Tuesday, reaching $58.12. 392,998 shares of the company’s stock were exchanged, compared to its average volume of 2,227,813. Travere Therapeutics, Inc. has a 52-week low of $14.69 and a 52-week 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’s fifty day simple moving average is $48.31 and its 200-day simple moving average is $37.64. The stock has a market capitalization of $5.40 billion, a PE ratio of -253.34 and a beta of 1.10.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, topping 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 business’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 company posted ($0.47) EPS. On average, equities research analysts expect that Travere Therapeutics, Inc. will post -0.25 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on TVTX. HC Wainwright increased their target price on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Guggenheim increased their target price on Travere Therapeutics from $56.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Weiss Ratings downgraded Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Wedbush raised their price target on shares of Travere Therapeutics from $55.00 to $61.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. Finally, Canaccord Genuity Group raised their price target on Travere Therapeutics from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.08.

About Travere Therapeutics

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.