VIRGINIA RETIREMENT SYSTEMS ET Al Invests $558,000 in Travere Therapeutics, Inc. $TVTX

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 14,600 shares of the company’s stock, valued at approximately $558,000.

Several other hedge funds have also recently bought and sold shares of TVTX. Emerald Advisers LLC boosted its position in Travere Therapeutics by 2.6% during the third quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company’s stock worth $51,308,000 after purchasing an additional 55,407 shares in the last quarter. Palisades Investment Partners LLC purchased a new stake in shares of Travere Therapeutics in the 4th quarter worth about $5,264,000. Lisanti Capital Growth LLC acquired a new stake in Travere Therapeutics in the 3rd quarter valued at about $3,095,000. Essex Investment Management Co. LLC purchased a new stake in shares of Travere Therapeutics in the third quarter valued at about $3,872,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Travere Therapeutics by 169.6% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 99,229 shares of the company’s stock valued at $3,792,000 after purchasing an additional 62,419 shares in the last quarter.

Insider Buying and Selling

In other Travere Therapeutics news, insider Jula Inrig sold 20,000 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $45.00, for a total transaction of $900,000.00. Following the completion of the sale, the insider directly owned 111,473 shares in the company, valued at $5,016,285. This represents a 15.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Roy D. Baynes sold 32,750 shares of the stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $41.29, for a total transaction of $1,352,247.50. Following the sale, the director directly owned 37,500 shares of the company’s stock, valued at approximately $1,548,375. This trade represents a 46.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 400,015 shares of company stock worth $15,895,428 over the last 90 days. Company insiders own 4.44% of the company’s stock.

Travere Therapeutics Stock Up 0.7%

TVTX opened at $42.89 on Tuesday. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of -186.47 and a beta of 1.13. The business has a 50-day moving average of $34.85 and a two-hundred day moving average of $33.67. Travere Therapeutics, Inc. has a 12 month low of $13.88 and a 12 month high of $48.61.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.29. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The business had revenue of $127.20 million for the quarter, compared to analyst estimates of $136.23 million. During the same period in the prior year, the firm posted ($0.47) EPS. The company’s revenue was up 55.6% on a year-over-year basis. On average, research analysts expect that Travere Therapeutics, Inc. will post -0.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TVTX. Guggenheim lifted their price objective on Travere Therapeutics from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Citigroup lifted their price objective on Travere Therapeutics from $53.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. HC Wainwright upped their target price on shares of Travere Therapeutics from $47.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Piper Sandler raised shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price target on the stock in a research note on Tuesday, April 14th. Finally, Weiss Ratings lowered shares of Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 6th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $47.83.

Travere Therapeutics Profile

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.