Penserra Capital Management LLC Takes Position in Travere Therapeutics, Inc. $TVTX

Penserra Capital Management LLC bought a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 80,556 shares of the company’s stock, valued at approximately $1,925,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in Travere Therapeutics in the second quarter valued at approximately $33,000. First Horizon Corp acquired a new position in shares of Travere Therapeutics during the third quarter worth $36,000. Headlands Technologies LLC purchased a new position in shares of Travere Therapeutics in the second quarter valued at $73,000. Atria Investments Inc acquired a new stake in Travere Therapeutics during the 2nd quarter valued at $154,000. Finally, Gallagher Fiduciary Advisors LLC acquired a new stake in Travere Therapeutics during the 2nd quarter valued at $155,000.

Wall Street Analyst Weigh In

TVTX has been the topic of a number of recent analyst reports. Guggenheim reiterated a “buy” rating and issued a $49.00 price objective on shares of Travere Therapeutics in a report on Wednesday, January 14th. TD Cowen reissued a “buy” rating on shares of Travere Therapeutics in a report on Friday, October 31st. Wall Street Zen upgraded Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, January 21st. Finally, Citigroup raised their price target on shares of Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Twelve research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.07.

Travere Therapeutics Stock Up 0.8%

TVTX stock opened at $29.71 on Friday. The firm has a fifty day moving average price of $33.76 and a two-hundred day moving average price of $27.89. The company has a debt-to-equity ratio of 4.23, a current ratio of 2.75 and a quick ratio of 2.71. Travere Therapeutics, Inc. has a 1-year low of $12.91 and a 1-year high of $42.13. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of -28.03, a PEG ratio of 0.82 and a beta of 0.83.

Insider Activity

In other Travere Therapeutics news, insider Peter Heerma sold 7,310 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $32.12, for a total value of $234,797.20. Following the transaction, the insider owned 131,823 shares of the company’s stock, valued at $4,234,154.76. This trade represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jula Inrig sold 1,779 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $32.21, for a total value of $57,301.59. Following the transaction, the insider directly owned 105,706 shares of the company’s stock, valued at $3,404,790.26. This trade represents a 1.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 331,925 shares of company stock valued at $11,318,755 over the last quarter. Corporate insiders own 4.19% of the company’s stock.

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.