Travere Therapeutics, Inc. (NASDAQ:TVTX) Stake Lessened by Squarepoint Ops LLC

Squarepoint Ops LLC decreased its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 35.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,580 shares of the company’s stock after selling 8,491 shares during the quarter. Squarepoint Ops LLC’s holdings in Travere Therapeutics were worth $128,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Travere Therapeutics during the 4th quarter valued at about $175,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Travere Therapeutics during the fourth quarter valued at approximately $5,711,000. Los Angeles Capital Management LLC acquired a new position in Travere Therapeutics in the 1st quarter valued at approximately $720,000. Hennion & Walsh Asset Management Inc. increased its stake in Travere Therapeutics by 14.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 40,790 shares of the company’s stock valued at $314,000 after buying an additional 5,123 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in Travere Therapeutics by 68.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock worth $113,000 after buying an additional 5,962 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TVTX. Barclays upped their price target on shares of Travere Therapeutics from $14.00 to $18.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Piper Sandler raised their price target on Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Guggenheim raised their price objective on shares of Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Leerink Partners reissued an “outperform” rating and issued a $20.00 target price on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.75.

Insider Transactions at Travere Therapeutics

In other news, CEO Eric M. Dube sold 21,125 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $243,360.00. Following the sale, the chief executive officer now owns 361,975 shares in the company, valued at approximately $4,169,952. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Travere Therapeutics news, Director Gary A. Lyons sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $14.73, for a total value of $589,200.00. Following the completion of the transaction, the director now owns 51,000 shares of the company’s stock, valued at $751,230. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $243,360.00. Following the sale, the chief executive officer now directly owns 361,975 shares in the company, valued at $4,169,952. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,707 shares of company stock worth $1,504,312 over the last three months. 3.75% of the stock is currently owned by insiders.

Travere Therapeutics Stock Performance

Shares of TVTX opened at $16.41 on Monday. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. Travere Therapeutics, Inc. has a one year low of $5.12 and a one year high of $18.60. The company’s fifty day moving average price is $11.78 and its 200 day moving average price is $8.98. The company has a market capitalization of $1.26 billion, a PE ratio of -8.73 and a beta of 0.73.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The business had revenue of $54.12 million during the quarter, compared to the consensus estimate of $49.50 million. As a group, analysts expect that Travere Therapeutics, Inc. will post -3.95 earnings per share for the current year.

About Travere Therapeutics

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.