161,988 Shares in Travere Therapeutics, Inc. $TVTX Acquired by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC bought a new position in Travere Therapeutics, Inc. (NASDAQ:TVTX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 161,988 shares of the company’s stock, valued at approximately $3,872,000. Essex Investment Management Co. LLC owned approximately 0.18% of Travere Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Travere Therapeutics during the 2nd quarter worth approximately $33,000. First Horizon Corp bought a new position in Travere Therapeutics during the third quarter worth $36,000. Headlands Technologies LLC acquired a new stake in Travere Therapeutics in the second quarter worth $73,000. Atria Investments Inc acquired a new stake in Travere Therapeutics in the second quarter worth $154,000. Finally, Gallagher Fiduciary Advisors LLC bought a new stake in Travere Therapeutics in the second quarter valued at $155,000.

Travere Therapeutics Stock Performance

Shares of TVTX opened at $30.07 on Tuesday. The firm has a market capitalization of $2.69 billion, a P/E ratio of -28.37, a P/E/G ratio of 0.82 and a beta of 0.83. Travere Therapeutics, Inc. has a 52 week low of $12.91 and a 52 week high of $42.13. The stock has a 50 day moving average price of $33.66 and a two-hundred day moving average price of $28.16. The company has a debt-to-equity ratio of 4.23, a quick ratio of 2.71 and a current ratio of 2.75.

Wall Street Analyst Weigh In

TVTX has been the topic of a number of research analyst reports. HC Wainwright reissued a “buy” rating and set a $47.00 price objective on shares of Travere Therapeutics in a research report on Friday, November 28th. Guggenheim reaffirmed a “buy” rating and set a $49.00 price target on shares of Travere Therapeutics in a research note on Wednesday, January 14th. TD Cowen reiterated a “buy” rating on shares of Travere Therapeutics in a report on Friday, October 31st. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. Finally, Wall Street Zen raised Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 13th. Twelve research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.07.

Insider Buying and Selling at Travere Therapeutics

In related news, insider Elizabeth E. Reed sold 2,994 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $32.18, for a total value of $96,346.92. Following the completion of the sale, the insider directly owned 105,211 shares of the company’s stock, valued at approximately $3,385,689.98. This represents a 2.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jula Inrig sold 1,779 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $32.21, for a total value of $57,301.59. Following the transaction, the insider owned 105,706 shares in the company, valued at approximately $3,404,790.26. This trade represents a 1.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 331,925 shares of company stock valued at $11,318,755 in the last three months. Insiders own 4.06% of the company’s stock.

About Travere Therapeutics

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.