Travere Therapeutics, Inc. (NASDAQ:TVTX) Shares Bought by Millennium Management LLC

Millennium Management LLC grew its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 33.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,949,335 shares of the company’s stock after buying an additional 747,406 shares during the quarter. Millennium Management LLC owned 3.86% of Travere Therapeutics worth $24,244,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new position in Travere Therapeutics during the first quarter worth about $32,000. DRW Securities LLC purchased a new position in shares of Travere Therapeutics during the 2nd quarter worth approximately $95,000. Sei Investments Co. acquired a new stake in shares of Travere Therapeutics in the 2nd quarter valued at approximately $117,000. Quest Partners LLC boosted its stake in shares of Travere Therapeutics by 240.6% in the second quarter. Quest Partners LLC now owns 14,336 shares of the company’s stock valued at $118,000 after buying an additional 10,127 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of 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 worth $113,000 after purchasing an additional 5,962 shares in the last quarter.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction that occurred 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 $972,921.60. The sale was disclosed in a filing with the SEC, which is available at this link. In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was 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 of the company’s stock, valued at $972,921.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey A. Meckler sold 40,000 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $14.06, for a total value of $562,400.00. Following the completion of the sale, the director now owns 81,000 shares of the company’s stock, valued at approximately $1,138,860. The disclosure for this sale can be found here. Insiders have sold a total of 70,707 shares of company stock worth $915,112 in the last three months. 3.75% of the stock is currently owned by company insiders.

Travere Therapeutics Price Performance

TVTX opened at $13.65 on Friday. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $15.36. The company’s 50 day simple moving average is $10.91 and its 200 day simple moving average is $8.58. The stock has a market capitalization of $1.04 billion, a PE ratio of -6.44 and a beta of 0.73. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04.

Travere Therapeutics (NASDAQ:TVTX) last released 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). The firm had revenue of $54.12 million for the quarter, compared to analyst estimates of $49.50 million. Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. As a group, sell-side analysts expect that Travere Therapeutics, Inc. will post -3.95 EPS for the current year.

Analyst Ratings Changes

TVTX has been the subject of a number of research reports. HC Wainwright reduced their price target on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Canaccord Genuity Group lowered their target price on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Monday. Guggenheim cut their price target on Travere Therapeutics from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Piper Sandler increased their price objective on shares of Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Citigroup cut their target price on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Travere Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $17.09.

Travere Therapeutics Company Profile

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.