Aigen Investment Management LP Acquires New Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Aigen Investment Management LP bought a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 12,180 shares of the company’s stock, valued at approximately $170,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Emerald Advisers LLC grew its position in Travere Therapeutics by 19.8% in the third quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock worth $27,430,000 after acquiring an additional 323,513 shares during the period. Emerald Mutual Fund Advisers Trust lifted its stake in shares of Travere Therapeutics by 26.0% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company’s stock valued at $16,588,000 after purchasing an additional 244,444 shares during the last quarter. Rice Hall James & Associates LLC lifted its stake in shares of Travere Therapeutics by 24.4% in the 3rd quarter. Rice Hall James & Associates LLC now owns 94,736 shares of the company’s stock valued at $1,325,000 after purchasing an additional 18,562 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Travere Therapeutics by 64.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,712 shares of the company’s stock worth $206,000 after purchasing an additional 5,767 shares during the period. Finally, Semanteon Capital Management LP acquired a new stake in shares of Travere Therapeutics during the 3rd quarter worth about $513,000.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays upped their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Wedbush increased their price objective on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Scotiabank lifted their price objective on Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. Finally, HC Wainwright decreased their target price on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.62.

Insider Transactions at Travere Therapeutics

In related news, SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction 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 sale, the senior vice president now directly owns 84,455 shares in the company, valued at $972,921.60. This trade represents a 4.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jula Inrig sold 2,191 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $25,240.32. Following the completion of the sale, the insider now directly owns 62,633 shares of the company’s stock, valued at approximately $721,532.16. This trade represents a 3.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,707 shares of company stock valued at $1,504,312. Corporate insiders own 3.75% of the company’s stock.

Travere Therapeutics Trading Down 4.1 %

NASDAQ TVTX opened at $17.72 on Friday. Travere Therapeutics, Inc. has a 52 week low of $5.12 and a 52 week high of $20.33. The firm has a 50 day moving average of $16.27 and a two-hundred day moving average of $11.01. 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 capitalization of $1.38 billion, a PE ratio of -3.89 and a beta of 0.70.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The firm had revenue of $62.90 million during the quarter, compared to the consensus estimate of $60.87 million. During the same quarter in the previous year, the firm posted ($1.17) earnings per share. The company’s revenue was up 69.6% compared to the same quarter last year. As a group, research analysts expect that Travere Therapeutics, Inc. will post -3.93 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.