Insight Wealth Strategies LLC Makes New Investment in Travere Therapeutics, Inc. $TVTX

Insight Wealth Strategies LLC bought a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 96,677 shares of the company’s stock, valued at approximately $5,692,000. Insight Wealth Strategies LLC owned about 0.10% of Travere Therapeutics as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in Travere Therapeutics by 53.4% in the second quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after purchasing an additional 211 shares during the last quarter. Fifth Third Bancorp bought a new position in Travere Therapeutics during the first quarter worth about $35,000. Allworth Financial LP acquired a new position in shares of Travere Therapeutics during the 2nd quarter worth about $47,000. Integrated Wealth Concepts LLC bought a new stake in shares of Travere Therapeutics in the 2nd quarter valued at about $70,000. Finally, Rockefeller Capital Management L.P. raised its position in shares of Travere Therapeutics by 1,604.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,642 shares of the company’s stock valued at $101,000 after acquiring an additional 2,487 shares during the period.

Insiders Place Their Bets

In other news, EVP Jula Inrig sold 44,674 shares of Travere Therapeutics stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $62.34, for a total value of $2,784,977.16. Following the sale, the executive vice president directly owned 100,491 shares in the company, valued at $6,264,608.94. This trade represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William E. Rote sold 112,850 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $63.33, for a total transaction of $7,146,790.50. Following the completion of the sale, the insider directly owned 98,197 shares in the company, valued at approximately $6,218,816.01. This represents a 53.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,050,294 shares of company stock worth $66,336,443 in the last 90 days. Company insiders own 4.44% of the company’s stock.

Travere Therapeutics Stock Up 0.9%

TVTX stock traded up $0.45 during trading hours on Friday, reaching $52.48. 366,041 shares of the stock were exchanged, compared to its average volume of 2,003,875. The firm’s 50-day moving average is $62.29 and its 200-day moving average is $51.74. Travere Therapeutics, Inc. has a 12 month low of $22.59 and a 12 month high of $68.73. The company has a market cap of $4.95 billion, a price-to-earnings ratio of -114.03 and a beta of 1.13. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.99.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The company had revenue of $169.58 million for the quarter, compared to analyst estimates of $157.27 million. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.The company’s quarterly revenue was up 48.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 earnings per share. On average, equities research analysts expect that Travere Therapeutics, Inc. will post -0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Canaccord Genuity Group upped their target price on shares of Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wedbush reissued an “outperform” rating and issued a $76.00 price target on shares of Travere Therapeutics in a report on Tuesday, September 22nd. HC Wainwright restated a “buy” rating and issued a $67.00 price objective on shares of Travere Therapeutics in a research report on Tuesday, September 22nd. Guggenheim lifted their target price on Travere Therapeutics from $75.00 to $89.00 and gave the stock a “buy” rating in a report on Thursday, September 24th. Finally, Evercore set a $78.00 target price on Travere Therapeutics in a research note on Monday, August 10th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.50.

Travere Therapeutics Profile

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare kidney and immune-mediated diseases. The company’s work centers on conditions with limited treatment options, including IgA nephropathy (IgAN) and focal segmental glomerulosclerosis (FSGS).

Travere’s lead commercial product is FILSPARI (sparsentan), an oral treatment approved in the United States for certain adults with primary IgAN who are at risk of disease progression.