Corton Capital Inc. Buys Shares of 10,732 Travere Therapeutics, Inc. $TVTX

Corton Capital Inc. purchased a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 10,732 shares of the company’s stock, valued at approximately $159,000.

A number of other institutional investors and hedge funds have also modified their holdings of TVTX. Wealth Enhancement Advisory Services LLC bought a new position in Travere Therapeutics in the first quarter valued at approximately $182,000. Polar Asset Management Partners Inc. bought a new stake in shares of Travere Therapeutics during the 1st quarter valued at $304,000. Northern Trust Corp lifted its stake in shares of Travere Therapeutics by 7.2% in the 1st quarter. Northern Trust Corp now owns 808,687 shares of the company’s stock valued at $14,492,000 after purchasing an additional 54,292 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Travere Therapeutics by 166.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,103,075 shares of the company’s stock worth $16,326,000 after purchasing an additional 689,561 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of Travere Therapeutics by 343.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 68,000 shares of the company’s stock worth $1,006,000 after purchasing an additional 52,675 shares during the last quarter.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, Director Timothy Coughlin sold 18,000 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $35.03, for a total transaction of $630,540.00. Following the completion of the transaction, the director owned 55,500 shares in the company, valued at approximately $1,944,165. This represents a 24.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric M. Dube sold 92,872 shares of Travere Therapeutics stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $30.38, for a total value of $2,821,451.36. Following the completion of the sale, the chief executive officer directly owned 419,173 shares in the company, valued at $12,734,475.74. This represents a 18.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 156,826 shares of company stock valued at $4,805,240 in the last quarter. 4.19% of the stock is currently owned by company insiders.

Travere Therapeutics Price Performance

Shares of TVTX opened at $34.13 on Wednesday. The company has a debt-to-equity ratio of 9.50, a quick ratio of 1.98 and a current ratio of 2.00. The firm has a market capitalization of $3.04 billion, a PE ratio of -16.73 and a beta of 0.83. The stock has a 50 day simple moving average of $25.18 and a 200 day simple moving average of $19.68. Travere Therapeutics, Inc. has a 52-week low of $12.91 and a 52-week high of $36.15.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.59. The firm had revenue of $113.15 million for the quarter, compared to analyst estimates of $106.09 million. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The business’s revenue was up 162.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.70) earnings per share. Sell-side analysts predict that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TVTX shares. HC Wainwright reissued a “buy” rating and issued a $47.00 target price on shares of Travere Therapeutics in a research note on Friday, September 19th. Wall Street Zen upgraded shares of Travere Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Scotiabank reissued an “outperform” rating on shares of Travere Therapeutics in a research note on Thursday, August 7th. TD Cowen upped their target price on shares of Travere Therapeutics from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Cowen reiterated a “buy” rating on shares of Travere Therapeutics in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $38.71.

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.