Eversept Partners LP Trims Stock Holdings in Travere Therapeutics, Inc. $TVTX

Eversept Partners LP decreased its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 53.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 542,610 shares of the company’s stock after selling 632,358 shares during the quarter. Travere Therapeutics comprises 0.9% of Eversept Partners LP’s investment portfolio, making the stock its 25th largest holding. Eversept Partners LP owned 0.58% of Travere Therapeutics worth $16,121,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its position in Travere Therapeutics by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock valued at $45,000 after buying an additional 487 shares during the last quarter. Comerica Bank lifted its stake in shares of Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after acquiring an additional 492 shares during the period. ProShare Advisors LLC lifted its stake in shares of Travere Therapeutics by 4.1% in the 4th quarter. ProShare Advisors LLC now owns 19,007 shares of the company’s stock worth $726,000 after acquiring an additional 756 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Travere Therapeutics by 26.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,348 shares of the company’s stock valued at $166,000 after acquiring an additional 902 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Travere Therapeutics in the fourth quarter valued at about $37,000.

Insider Transactions at Travere Therapeutics

In related news, insider Jula Inrig sold 20,000 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $45.00, for a total value of $900,000.00. Following the completion of the transaction, the insider owned 111,473 shares of the company’s stock, valued at approximately $5,016,285. The trade was a 15.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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, CEO Eric M. Dube sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $43.95, for a total transaction of $988,875.00. Following the sale, the chief executive officer directly owned 432,886 shares in the company, valued at $19,025,339.70. This represents a 4.94% 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 have sold a total of 113,413 shares of company stock worth $5,161,607 in the last ninety days. Company insiders own 4.44% of the company’s stock.

Analyst Upgrades and Downgrades

TVTX has been the topic of a number of recent analyst reports. Piper Sandler raised Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price objective on the stock in a report on Tuesday, April 14th. Guggenheim raised their target price on Travere Therapeutics from $56.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, June 25th. HC Wainwright boosted their target price on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Weiss Ratings cut shares of Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 23rd. Finally, TD Cowen increased their price target on shares of Travere Therapeutics from $45.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.08.

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX opened at $56.68 on Tuesday. The company has a debt-to-equity ratio of 3.16, a quick ratio of 3.08 and a current ratio of 3.13. The business’s fifty day moving average price is $52.56 and its two-hundred day moving average price is $39.69. The stock has a market cap of $5.27 billion, a PE ratio of -246.42 and a beta of 1.10. Travere Therapeutics, Inc. has a one year low of $15.03 and a one year high of $60.10.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.29. The business had revenue of $127.20 million for the quarter, compared to the consensus estimate of $136.23 million. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The business’s revenue was up 55.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.47) earnings per share. On average, analysts forecast that Travere Therapeutics, Inc. will post -0.31 EPS for the current fiscal year.

About Travere Therapeutics

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.