Oak Ridge Investments LLC Reduces Position in Travere Therapeutics, Inc. $TVTX

Oak Ridge Investments LLC trimmed its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTXFree Report) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,477 shares of the company’s stock after selling 2,593 shares during the period. Oak Ridge Investments LLC’s holdings in Travere Therapeutics were worth $762,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TVTX. Adage Capital Partners GP L.L.C. lifted its stake in Travere Therapeutics by 479.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,184,898 shares of the company’s stock valued at $39,153,000 after acquiring an additional 1,808,098 shares during the period. Armistice Capital LLC lifted its stake in Travere Therapeutics by 20.6% during the 1st quarter. Armistice Capital LLC now owns 8,872,000 shares of the company’s stock valued at $158,986,000 after acquiring an additional 1,514,000 shares during the period. Nuveen LLC acquired a new stake in Travere Therapeutics during the 1st quarter valued at approximately $21,569,000. Assenagon Asset Management S.A. lifted its stake in shares of Travere Therapeutics by 166.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,103,075 shares of the company’s stock valued at $16,326,000 after purchasing an additional 689,561 shares during the period. Finally, Driehaus Capital Management LLC lifted its stake in shares of Travere Therapeutics by 24.8% in the 1st quarter. Driehaus Capital Management LLC now owns 2,767,693 shares of the company’s stock valued at $49,597,000 after purchasing an additional 549,718 shares during the period.

Insiders Place Their Bets

In other Travere Therapeutics news, insider Elizabeth E. Reed sold 10,000 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $25.00, for a total transaction of $250,000.00. Following the completion of the transaction, the insider directly owned 89,878 shares in the company, valued at approximately $2,246,950. This represents a 10.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 10,573 shares of company stock worth $260,608 in the last ninety days. Corporate insiders own 4.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TVTX shares. Wall Street Zen upgraded shares of Travere Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. HC Wainwright reiterated a “buy” rating and issued a $47.00 target price on shares of Travere Therapeutics in a research note on Friday, September 19th. Citigroup reiterated a “buy” rating on shares of Travere Therapeutics in a research note on Sunday, August 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their target price on shares of Travere Therapeutics from $27.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.21.

Check Out Our Latest Analysis on Travere Therapeutics

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $25.16 on Monday. The company has a debt-to-equity ratio of 9.50, a quick ratio of 1.98 and a current ratio of 2.00. The company has a fifty day moving average of $21.21 and a two-hundred day moving average of $18.02. The stock has a market capitalization of $2.24 billion, a PE ratio of -12.33 and a beta of 0.83. Travere Therapeutics, Inc. has a fifty-two week low of $12.91 and a fifty-two week high of $28.69.

Travere Therapeutics (NASDAQ:TVTXGet Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.14. The company had revenue of $94.84 million during the quarter, compared to analysts’ expectations of $100.18 million. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The firm’s revenue for the quarter was up 111.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.65) earnings per share. As a group, research analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Travere Therapeutics Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Travere Therapeutics (NASDAQ:TVTX)

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