Artia Global Partners LP Boosts Stake in Travere Therapeutics, Inc. $TVTX

Artia Global Partners LP grew its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 128.8% during the fourth quarter, Holdings Channel reports. The fund owned 70,700 shares of the company’s stock after purchasing an additional 39,800 shares during the period. Artia Global Partners LP’s holdings in Travere Therapeutics were worth $2,701,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TVTX. Raymond James Financial Inc. purchased a new position in shares of Travere Therapeutics during the 2nd quarter worth approximately $33,000. State of Wyoming bought a new stake in shares of Travere Therapeutics in the 4th quarter worth approximately $37,000. Torren Management LLC bought a new stake in shares of Travere Therapeutics in the 4th quarter worth approximately $38,000. Comerica Bank boosted its position in shares of Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after purchasing an additional 492 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Travere Therapeutics by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock worth $45,000 after purchasing an additional 487 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. HC Wainwright boosted their price target on Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. TD Cowen boosted 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. Canaccord Genuity Group boosted their price target on Travere Therapeutics from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Wedbush reissued an “outperform” rating and issued a $55.00 price target on shares of Travere Therapeutics in a research report on Wednesday, June 3rd. Finally, Weiss Ratings raised Travere Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 21st. 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. According to MarketBeat, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.83.

Travere Therapeutics Stock Performance

TVTX stock opened at $54.14 on Thursday. The stock has a market capitalization of $5.03 billion, a PE ratio of -235.38 and a beta of 1.13. Travere Therapeutics, Inc. has a 12-month low of $13.88 and a 12-month high of $55.11. The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16. The stock’s 50 day simple moving average is $43.07 and its 200 day simple moving average is $35.63.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.29. The business had revenue of $127.20 million for 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 firm’s quarterly revenue was up 55.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.47) EPS. As a group, research analysts forecast that Travere Therapeutics, Inc. will post -0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Eric M. Dube sold 64,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $41.09, for a total value of $2,629,760.00. Following the transaction, the chief executive officer directly owned 432,886 shares of the company’s stock, valued at approximately $17,787,285.74. This represents a 12.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth E. Reed sold 44,715 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $41.21, for a total value of $1,842,705.15. Following the completion of the transaction, the insider directly owned 111,996 shares in the company, valued at $4,615,355.16. This trade represents a 28.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders sold a total of 404,515 shares of company stock worth $16,340,228 in the last three months. Corporate insiders own 4.44% of the company’s stock.

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.