Perceptive Advisors LLC Has $163.47 Million Stock Holdings in Travere Therapeutics, Inc. $TVTX

Perceptive Advisors LLC grew its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 12.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,278,180 shares of the company’s stock after acquiring an additional 483,565 shares during the period. Travere Therapeutics comprises 2.9% of Perceptive Advisors LLC’s holdings, making the stock its 8th largest holding. Perceptive Advisors LLC’s holdings in Travere Therapeutics were worth $163,469,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TVTX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Travere Therapeutics by 13.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,777 shares of the company’s stock valued at $1,029,000 after acquiring an additional 6,831 shares during the last quarter. Norges Bank acquired a new stake in shares of Travere Therapeutics during the second quarter worth $1,051,000. First Trust Advisors LP acquired a new stake in shares of Travere Therapeutics during the second quarter worth $3,538,000. Cresset Asset Management LLC increased its position in shares of Travere Therapeutics by 26.5% during the second quarter. Cresset Asset Management LLC now owns 28,875 shares of the company’s stock worth $427,000 after buying an additional 6,047 shares during the period. Finally, Qube Research & Technologies Ltd increased its position in shares of Travere Therapeutics by 106.2% during the second quarter. Qube Research & Technologies Ltd now owns 604,128 shares of the company’s stock worth $8,941,000 after buying an additional 311,137 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. TD Cowen increased their price objective on shares of Travere Therapeutics from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. decreased their price objective on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Canaccord Genuity Group increased their price objective on shares of Travere Therapeutics from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Finally, Citigroup increased their price objective on shares of Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $50.83.

Insider Buying and Selling at Travere Therapeutics

In related news, Director Roy D. Baynes sold 32,750 shares of the stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $41.29, for a total transaction of $1,352,247.50. Following the transaction, the director directly owned 37,500 shares of the company’s stock, valued at $1,548,375. This represents a 46.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric M. Dube sold 64,000 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $41.09, for a total transaction of $2,629,760.00. Following the transaction, the chief executive officer directly owned 432,886 shares in the company, valued at approximately $17,787,285.74. This represents a 12.88% decrease in their ownership of the stock. 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 sold 404,515 shares of company stock valued at $16,340,228 over the last 90 days. Insiders own 4.44% of the company’s stock.

Travere Therapeutics Stock Up 1.4%

Shares of NASDAQ TVTX opened at $54.14 on Thursday. The firm has a market cap 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’s fifty day simple moving average is $43.07 and its 200 day simple moving average is $35.63. The company has a quick ratio of 3.08, a current ratio of 3.13 and a debt-to-equity ratio of 3.16.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.29. The business had revenue of $127.20 million for the quarter, compared to analyst estimates of $136.23 million. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. Travere Therapeutics’s revenue was up 55.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.47) earnings per share. As a group, sell-side analysts forecast that Travere Therapeutics, Inc. will post -0.29 earnings per share for the current fiscal year.

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.