Geode Capital Management LLC Buys 27,040 Shares of Travere Therapeutics, Inc. $TVTX

Geode Capital Management LLC grew its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 1.4% during the 2nd quarter, Holdings Channel reports. The firm owned 2,003,701 shares of the company’s stock after purchasing an additional 27,040 shares during the quarter. Geode Capital Management LLC’s holdings in Travere Therapeutics were worth $29,658,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas lifted its holdings in Travere Therapeutics by 3.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 22,688 shares of the company’s stock valued at $336,000 after purchasing an additional 773 shares during the last quarter. E Fund Management Co. Ltd. raised its stake in shares of Travere Therapeutics by 8.6% in the first quarter. E Fund Management Co. Ltd. now owns 13,553 shares of the company’s stock valued at $243,000 after acquiring an additional 1,072 shares during the last quarter. Oak Ridge Investments LLC boosted its holdings in shares of Travere Therapeutics by 2.8% in the 1st quarter. Oak Ridge Investments LLC now owns 54,070 shares of the company’s stock worth $969,000 after acquiring an additional 1,471 shares in the last quarter. Entropy Technologies LP boosted its holdings in shares of Travere Therapeutics by 18.6% in the 1st quarter. Entropy Technologies LP now owns 14,592 shares of the company’s stock worth $261,000 after acquiring an additional 2,292 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in Travere Therapeutics by 10.4% during the 1st quarter. Hsbc Holdings PLC now owns 30,737 shares of the company’s stock worth $542,000 after acquiring an additional 2,902 shares during the last quarter.

Insiders Place Their Bets

In other news, Director Timothy Coughlin sold 18,000 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $35.03, for a total value of $630,540.00. Following the transaction, the director owned 55,500 shares of the company’s stock, valued at $1,944,165. This represents a 24.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Peter Heerma sold 5,591 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $35.00, for a total value of $195,685.00. Following the completion of the transaction, the insider owned 119,071 shares in the company, valued at $4,167,485. This represents a 4.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 223,941 shares of company stock valued at $7,221,380 over the last three months. 4.19% of the stock is owned by insiders.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $36.26 on Friday. The business’s 50-day simple moving average is $29.82 and its 200 day simple moving average is $21.54. The company has a quick ratio of 1.98, a current ratio of 2.00 and a debt-to-equity ratio of 9.50. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of -17.77 and a beta of 0.90. Travere Therapeutics, Inc. has a 12-month low of $12.91 and a 12-month high of $36.87.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, October 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.59. The company had revenue of $164.86 million for the quarter, compared to the consensus estimate of $106.09 million. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The company’s revenue was up 162.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.70) EPS. As a group, research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, October 8th. Jefferies Financial Group set a $35.00 target price on Travere Therapeutics in a research note on Wednesday, September 10th. Zacks Research downgraded shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Wedbush increased their price objective on shares of Travere Therapeutics from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Finally, Wells Fargo & Company raised their price objective on shares of Travere Therapeutics from $27.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Travere Therapeutics has an average rating of “Moderate Buy” and an average price target of $38.71.

About Travere Therapeutics

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.