7,851 Shares in Travere Therapeutics, Inc. $TVTX Acquired by Quantbot Technologies LP

Quantbot Technologies LP purchased a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,851 shares of the company’s stock, valued at approximately $446,000.

A number of other large investors also recently modified their holdings of the company. Allworth Financial LP acquired a new stake in shares of Travere Therapeutics in the 2nd quarter valued at $47,000. E Fund Management Co. Ltd. acquired a new position in shares of Travere Therapeutics during the second quarter worth $473,000. Lisanti Capital Growth LLC purchased a new position in Travere Therapeutics in the second quarter valued at $6,761,000. Deutsche Bank AG purchased a new position in Travere Therapeutics in the second quarter valued at $12,815,000. Finally, Rice Hall James & Associates LLC acquired a new stake in Travere Therapeutics in the second quarter valued at $5,543,000.

Analyst Ratings Changes

TVTX has been the subject of a number of recent analyst reports. Evercore set a $78.00 price target on Travere Therapeutics in a report on Monday, August 10th. TD Cowen increased their price objective on Travere Therapeutics from $60.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Wedbush raised their target price on Travere Therapeutics from $61.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Piper Sandler restated an “overweight” rating on shares of Travere Therapeutics in a research note on Monday, August 17th. Finally, Canaccord Genuity Group upped their price target on Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Ten research 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $61.67.

Travere Therapeutics Trading Down 2.7%

Shares of TVTX stock opened at $65.67 on Friday. The business’s fifty day moving average price is $59.34 and its 200 day moving average price is $44.84. The firm has a market capitalization of $6.19 billion, a PE ratio of -142.76 and a beta of 1.12. 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, Inc. has a 1-year low of $17.27 and a 1-year high of $67.85.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.03. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The firm had revenue of $169.58 million during the quarter, compared to analysts’ expectations of $157.27 million. During the same quarter last year, the business earned $0.13 earnings per share. The business’s revenue for the quarter was up 48.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Travere Therapeutics, Inc. will post -0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Roy D. Baynes sold 4,500 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.00, for a total value of $225,000.00. Following the sale, the director directly owned 41,500 shares of the company’s stock, valued at approximately $2,075,000. This represents a 9.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $50.07, for a total value of $500,700.00. Following the completion of the sale, the director directly owned 56,250 shares in the company, valued at approximately $2,816,437.50. The trade was a 15.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.44% 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.