Semanteon Capital Management LP Acquires 48,084 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Semanteon Capital Management LP lifted its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 131.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 84,783 shares of the company’s stock after purchasing an additional 48,084 shares during the quarter. Travere Therapeutics comprises approximately 0.8% of Semanteon Capital Management LP’s investment portfolio, making the stock its 10th biggest position. Semanteon Capital Management LP owned 0.11% of Travere Therapeutics worth $1,477,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC acquired a new position in Travere Therapeutics in the fourth quarter valued at about $14,222,000. abrdn plc acquired a new position in shares of Travere Therapeutics in the 4th quarter worth approximately $6,829,000. Impax Asset Management Group plc purchased a new position in shares of Travere Therapeutics during the 4th quarter worth approximately $5,226,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Travere Therapeutics by 37.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 843,300 shares of the company’s stock valued at $11,798,000 after purchasing an additional 228,300 shares during the last quarter. Finally, Walleye Capital LLC raised its position in Travere Therapeutics by 70.1% in the third quarter. Walleye Capital LLC now owns 488,453 shares of the company’s stock valued at $6,833,000 after purchasing an additional 201,282 shares during the period.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $20.83 on Friday. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $25.29. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The firm has a market capitalization of $1.85 billion, a PE ratio of -5.08 and a beta of 0.75. The business’s fifty day moving average price is $20.45 and its 200 day moving average price is $18.03.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). The business had revenue of $74.79 million during the quarter, compared to analysts’ expectations of $72.38 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. On average, sell-side analysts anticipate that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Travere Therapeutics news, SVP William E. Rote sold 2,437 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total transaction of $47,424.02. Following the transaction, the senior vice president now owns 83,170 shares of the company’s stock, valued at approximately $1,618,488.20. This trade represents a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sandra Calvin sold 54,244 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total value of $1,356,100.00. Following the completion of the sale, the chief accounting officer now directly owns 54,410 shares of the company’s stock, valued at $1,360,250. The trade was a 49.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,335 shares of company stock valued at $4,453,012. 3.75% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TVTX has been the subject of a number of research reports. HC Wainwright lifted their price objective on Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Evercore ISI lifted their target price on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Citigroup increased their price target on shares of Travere Therapeutics from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Canaccord Genuity Group lifted their price objective on shares of Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Travere Therapeutics in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.62.

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.