Twinbeech Capital LP Takes $177,000 Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Twinbeech Capital LP bought a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,169 shares of the company’s stock, valued at approximately $177,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TVTX. Rock Springs Capital Management LP raised its holdings in Travere Therapeutics by 6.2% in the 4th quarter. Rock Springs Capital Management LP now owns 4,973,649 shares of the company’s stock valued at $86,641,000 after acquiring an additional 289,173 shares during the period. Renaissance Technologies LLC raised its holdings in Travere Therapeutics by 28.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company’s stock valued at $41,974,000 after acquiring an additional 534,500 shares during the period. Driehaus Capital Management LLC raised its holdings in Travere Therapeutics by 608.1% in the 4th quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company’s stock valued at $38,637,000 after acquiring an additional 1,904,733 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Travere Therapeutics by 36.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company’s stock valued at $37,875,000 after acquiring an additional 583,836 shares during the period. Finally, Emerald Advisers LLC raised its holdings in Travere Therapeutics by 8.4% in the 4th quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company’s stock valued at $37,030,000 after acquiring an additional 165,085 shares during the period.

Analysts Set New Price Targets

Several research firms have weighed in on TVTX. Stifel Nicolaus increased their price target on shares of Travere Therapeutics from $22.00 to $23.00 and gave the company a “hold” rating in a report on Friday, May 2nd. Evercore ISI increased their target price on shares of Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Guggenheim restated a “buy” rating and set a $47.00 target price on shares of Travere Therapeutics in a research report on Monday, April 14th. Citigroup restated a “buy” rating on shares of Travere Therapeutics in a research report on Friday, May 16th. Finally, Canaccord Genuity Group increased their target price on shares of Travere Therapeutics from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, April 10th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Travere Therapeutics has an average rating of “Moderate Buy” and an average price target of $31.79.

Insider Buying and Selling at Travere Therapeutics

In other news, CFO Christopher R. Cline sold 1,784 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $37,553.20. Following the completion of the transaction, the chief financial officer now owns 93,126 shares of the company’s stock, valued at approximately $1,960,302.30. This trade represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter Heerma sold 1,771 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $37,279.55. Following the transaction, the insider now directly owns 128,215 shares of the company’s stock, valued at $2,698,925.75. The trade was a 1.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,527 shares of company stock worth $473,814 over the last quarter. Corporate insiders own 4.19% of the company’s stock.

Travere Therapeutics Stock Performance

Shares of Travere Therapeutics stock opened at $15.84 on Friday. Travere Therapeutics, Inc. has a fifty-two week low of $6.14 and a fifty-two week high of $25.29. 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 firm has a market capitalization of $1.41 billion, a P/E ratio of -3.86 and a beta of 0.88. The company’s 50 day moving average price is $17.93 and its two-hundred day moving average price is $18.86.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.08. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The firm had revenue of $81.73 million for the quarter, compared to analyst estimates of $77.44 million. During the same quarter last year, the business posted ($1.76) earnings per share. The company’s quarterly revenue was up 83.3% on a year-over-year basis. On average, equities analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

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.