Rhumbline Advisers Purchases 18,645 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Rhumbline Advisers raised its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 17.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 125,660 shares of the company’s stock after purchasing an additional 18,645 shares during the period. Rhumbline Advisers owned 0.17% of Travere Therapeutics worth $1,033,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. EntryPoint Capital LLC bought a new position in shares of Travere Therapeutics during the first quarter valued at approximately $32,000. China Universal Asset Management Co. Ltd. boosted its position in Travere Therapeutics by 68.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock valued at $113,000 after acquiring an additional 5,962 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Travere Therapeutics in the 4th quarter valued at $137,000. SG Americas Securities LLC bought a new position in shares of Travere Therapeutics in the 2nd quarter worth $139,000. Finally, ProShare Advisors LLC lifted its stake in shares of Travere Therapeutics by 9.2% during the 1st quarter. ProShare Advisors LLC now owns 18,421 shares of the company’s stock worth $142,000 after purchasing an additional 1,557 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wedbush boosted their target price on shares of Travere Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price target on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Piper Sandler boosted their price objective on Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. HC Wainwright increased their price target on Travere Therapeutics from $20.00 to $23.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Guggenheim upgraded shares of Travere Therapeutics from a “neutral” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.91.

Insider Transactions at Travere Therapeutics

In related news, SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $50,538.24. Following the transaction, the senior vice president now directly owns 84,455 shares in the company, valued at approximately $972,921.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP William E. Rote sold 4,387 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the transaction, the senior vice president now directly owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eric M. Dube sold 21,125 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the completion of the transaction, the chief executive officer now owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. The disclosure for this sale can be found here. Insiders sold 30,707 shares of company stock worth $352,712 over the last 90 days. 3.75% of the stock is currently owned by insiders.

Travere Therapeutics Stock Up 1.0 %

Shares of NASDAQ:TVTX opened at $15.21 on Monday. The firm has a 50 day simple moving average of $10.20 and a 200-day simple moving average of $8.23. The company has a market capitalization of $1.16 billion, a PE ratio of -7.24 and a beta of 0.71. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $15.26.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share (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 for the quarter, compared to analysts’ expectations of $49.50 million. On average, equities analysts predict that Travere Therapeutics, Inc. will post -3.96 EPS for the current fiscal 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.