Travere Therapeutics, Inc. $TVTX Stock Position Lifted by Wellington Management Group LLP

Wellington Management Group LLP raised its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 50.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,533,080 shares of the company’s stock after buying an additional 510,808 shares during the quarter. Wellington Management Group LLP’s holdings in Travere Therapeutics were worth $87,094,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in shares of Travere Therapeutics by 53.4% during the 2nd quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after buying an additional 211 shares during the period. Allworth Financial LP acquired a new position in shares of Travere Therapeutics in the second quarter worth $47,000. State of Wyoming acquired a new position in shares of Travere Therapeutics in the fourth quarter worth $37,000. Comerica Bank raised its holdings in shares of Travere Therapeutics by 77.5% during the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after acquiring an additional 492 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new stake in shares of Travere Therapeutics during the first quarter worth $35,000.

Wall Street Analyst Weigh In

A number of research analysts have commented on TVTX shares. Wells Fargo & Company boosted their target price on Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Wedbush raised their price target on Travere Therapeutics from $61.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Wall Street Zen lowered Travere Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Evercore set a $78.00 price target on Travere Therapeutics in a research note on Monday, August 10th. Finally, Weiss Ratings downgraded Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Travere Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $61.67.

Travere Therapeutics Stock Down 0.9%

TVTX stock opened at $65.71 on Wednesday. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58. Travere Therapeutics, Inc. has a 1 year low of $17.27 and a 1 year high of $67.85. The company has a fifty day simple moving average of $59.76 and a 200 day simple moving average of $45.45. The firm has a market cap of $6.19 billion, a PE ratio of -142.84 and a beta of 1.05.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $157.27 million. During the same period in the prior year, the business posted $0.13 earnings per share. The business’s quarterly revenue was up 48.2% on a year-over-year basis. Sell-side analysts anticipate that Travere Therapeutics, Inc. will post -0.56 EPS for the current fiscal year.

Insider Activity

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

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.