Travere Therapeutics, Inc. $TVTX Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 46.7% during the 4th quarter, Holdings Channel reports. The firm owned 40,400 shares of the company’s stock after buying an additional 12,858 shares during the period. Intech Investment Management LLC’s holdings in Travere Therapeutics were worth $1,544,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC boosted its position in Travere Therapeutics by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 2,143,495 shares of the company’s stock worth $81,915,000 after acquiring an additional 5,465 shares during the last quarter. Legal & General Group Plc boosted its position in Travere Therapeutics by 3.1% during the fourth quarter. Legal & General Group Plc now owns 536,925 shares of the company’s stock worth $20,516,000 after acquiring an additional 16,333 shares during the last quarter. Lisanti Capital Growth LLC boosted its position in Travere Therapeutics by 6.9% during the fourth quarter. Lisanti Capital Growth LLC now owns 138,482 shares of the company’s stock worth $5,291,000 after acquiring an additional 8,970 shares during the last quarter. Legato Capital Management LLC boosted its position in Travere Therapeutics by 23.2% during the fourth quarter. Legato Capital Management LLC now owns 87,536 shares of the company’s stock worth $3,345,000 after acquiring an additional 16,506 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in Travere Therapeutics by 11,770.0% during the fourth quarter. IFP Advisors Inc now owns 2,374 shares of the company’s stock worth $91,000 after acquiring an additional 2,354 shares during the last quarter.

Insider Activity at Travere Therapeutics

In other news, insider Elizabeth E. Reed sold 44,715 shares of the stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $41.21, for a total value of $1,842,705.15. Following the completion of the sale, the insider owned 111,996 shares of the company’s stock, valued at $4,615,355.16. This represents a 28.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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, insider Jula Inrig sold 20,000 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $45.00, for a total transaction of $900,000.00. Following the completion of the transaction, the insider directly owned 111,473 shares in the company, valued at approximately $5,016,285. This represents a 15.21% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 400,015 shares of company stock valued at $15,895,428 over the last 90 days. 4.44% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Canaccord Genuity Group raised their target price on shares of Travere Therapeutics from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Piper Sandler upgraded shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 target price on the stock in a research report on Tuesday, April 14th. Weiss Ratings upgraded shares of Travere Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 21st. TD Cowen increased their price target on shares of Travere Therapeutics from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Wall Street Zen downgraded shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $48.92.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $45.81 on Friday. The company has a quick ratio of 3.08, a current ratio of 3.13 and a debt-to-equity ratio of 3.16. The company has a market cap of $4.26 billion, a P/E ratio of -199.17 and a beta of 1.13. Travere Therapeutics, Inc. has a fifty-two week low of $13.88 and a fifty-two week high of $48.61. The firm’s 50 day moving average is $39.71 and its two-hundred day moving average is $34.79.

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

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.