Elmind Capital LP Invests $4.20 Million in Travere Therapeutics, Inc. $TVTX

Elmind Capital LP bought a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 4th quarter, Holdings Channel.com reports. The fund bought 110,000 shares of the company’s stock, valued at approximately $4,203,000. Travere Therapeutics accounts for 1.2% of Elmind Capital LP’s investment portfolio, making the stock its 21st largest holding.

Other hedge funds also recently made changes to their positions in the company. State of Wyoming bought a new position in shares of Travere Therapeutics during the fourth quarter worth approximately $37,000. Torren Management LLC bought a new position in shares of Travere Therapeutics during the fourth quarter worth approximately $38,000. Comerica Bank increased its holdings in shares of Travere Therapeutics by 77.5% during the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after purchasing an additional 492 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of 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. Finally, Garner Asset Management Corp bought a new position in shares of Travere Therapeutics during the fourth quarter worth approximately $69,000.

Insiders Place Their Bets

In related news, insider Jula Inrig sold 20,000 shares of Travere Therapeutics stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $45.00, for a total value of $900,000.00. Following the transaction, the insider directly owned 111,473 shares of the company’s stock, valued at $5,016,285. This trade represents a 15.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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, CAO Sandra Calvin sold 21,977 shares of Travere Therapeutics stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $41.07, for a total transaction of $902,595.39. Following the completion of the transaction, the chief accounting officer directly owned 42,353 shares in the company, valued at $1,739,437.71. This trade represents a 34.16% 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. Insiders sold a total of 404,515 shares of company stock valued at $16,340,228 over the last three months. 4.44% of the stock is owned by corporate insiders.

Travere Therapeutics Stock Performance

Shares of NASDAQ:TVTX opened at $54.14 on Thursday. The company’s 50 day simple moving average is $43.07 and its 200 day simple moving average is $35.63. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of -235.38 and a beta of 1.13. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08. Travere Therapeutics, Inc. has a 1 year low of $13.88 and a 1 year high of $55.11.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 4.00% and a negative return on equity of 26.16%. The firm’s quarterly revenue was up 55.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.47) earnings per share. As a group, research analysts predict that Travere Therapeutics, Inc. will post -0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

TVTX has been the topic of several recent research reports. TD Cowen raised their target price on shares of Travere Therapeutics from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Guggenheim raised their target price on shares of Travere Therapeutics from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, April 24th. HC Wainwright raised their target price on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Citigroup raised their target price on shares of Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wedbush reaffirmed an “outperform” rating and set a $55.00 target price on shares of Travere Therapeutics in a report on Wednesday, June 3rd. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.83.

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.