Bellevue Group AG Buys New Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Bellevue Group AG purchased a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 31,000 shares of the company’s stock, valued at approximately $434,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TVTX. Aigen Investment Management LP bought a new stake in Travere Therapeutics during the third quarter worth approximately $170,000. Assenagon Asset Management S.A. raised its stake in shares of Travere Therapeutics by 912.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock worth $18,200,000 after buying an additional 1,995,419 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Travere Therapeutics in the 3rd quarter worth $673,000. Acadian Asset Management LLC lifted its holdings in shares of Travere Therapeutics by 202.6% in the second quarter. Acadian Asset Management LLC now owns 144,901 shares of the company’s stock valued at $1,190,000 after buying an additional 97,020 shares during the period. Finally, Millennium Management LLC boosted its stake in Travere Therapeutics by 33.9% during the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after buying an additional 747,406 shares in the last quarter.

Insider Buying and Selling at Travere Therapeutics

In related news, CAO Sandra Calvin sold 12,090 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $18.30, for a total value of $221,247.00. Following the completion of the sale, the chief accounting officer now owns 54,927 shares of the company’s stock, valued at approximately $1,005,164.10. The trade was a 18.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP William E. Rote sold 4,387 shares of the firm’s 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 in the company, valued at approximately $972,921.60. The trade was a 4.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 122,797 shares of company stock worth $1,725,559. 3.75% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on TVTX. Canaccord Genuity Group dropped their price target on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Barclays boosted their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Guggenheim raised their target price on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. Finally, Citigroup cut their price objective on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $22.62.

Travere Therapeutics Stock Performance

Shares of Travere Therapeutics stock opened at $18.81 on Monday. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $20.33. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The stock has a market cap of $1.47 billion, a PE ratio of -4.13 and a beta of 0.70. The business has a fifty day simple moving average of $17.18 and a 200-day simple moving average of $11.83.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01. The firm had revenue of $62.90 million during the quarter, compared to analyst estimates of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The business’s quarterly revenue was up 69.6% compared to the same quarter last year. During the same period last year, the company posted ($1.17) EPS. On average, sell-side analysts anticipate that Travere Therapeutics, Inc. will post -3.94 EPS for the current fiscal year.

Travere Therapeutics 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.