Gen Wealth Partners Inc Takes $73,000 Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Gen Wealth Partners Inc acquired a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 4,210 shares of the company’s stock, valued at approximately $73,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TVTX. Sterling Capital Management LLC raised its position in Travere Therapeutics by 859.8% in the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock valued at $41,000 after purchasing an additional 2,115 shares during the last quarter. R Squared Ltd acquired a new position in shares of Travere Therapeutics in the fourth quarter valued at approximately $53,000. Summit Investment Advisors Inc. raised its holdings in Travere Therapeutics by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company’s stock valued at $138,000 after buying an additional 667 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in Travere Therapeutics during the 4th quarter worth approximately $182,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in Travere Therapeutics during the 4th quarter worth approximately $192,000.

Insider Buying and Selling

In related news, CAO Sandra Calvin sold 54,244 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the completion of the sale, the chief accounting officer now owns 54,410 shares in the company, valued at approximately $1,360,250. This represents a 49.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Peter Heerma sold 1,771 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $37,279.55. Following the completion of the sale, the insider now directly owns 128,215 shares of the company’s stock, valued at $2,698,925.75. The trade was a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,420 shares of company stock worth $2,302,575 in the last quarter. Insiders own 4.19% of the company’s stock.

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX opened at $20.02 on Friday. Travere Therapeutics, Inc. has a twelve month low of $6.01 and a twelve month high of $25.29. The stock’s 50 day moving average is $18.07 and its 200-day moving average is $18.82. 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 firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -4.88 and a beta of 0.88.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.08. The firm had revenue of $81.73 million for the quarter, compared to the consensus estimate of $77.44 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The business’s revenue was up 83.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.76) earnings per share. Sell-side analysts forecast that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Scotiabank restated an “outperform” rating on shares of Travere Therapeutics in a report on Friday, April 11th. Wedbush reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Travere Therapeutics in a research note on Friday, May 2nd. Citigroup increased their target price on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Evercore ISI boosted their price target on shares of Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, HC Wainwright lifted their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $31.79.

Travere Therapeutics Company 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.