Armistice Capital LLC Has $143.82 Million Stake in Travere Therapeutics, Inc. $TVTX

Armistice Capital LLC trimmed its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 44.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,763,891 shares of the company’s stock after selling 2,960,109 shares during the quarter. Travere Therapeutics makes up about 1.7% of Armistice Capital LLC’s holdings, making the stock its 6th largest position. Armistice Capital LLC’s holdings in Travere Therapeutics were worth $143,818,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TVTX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Travere Therapeutics by 13.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,777 shares of the company’s stock worth $1,029,000 after acquiring an additional 6,831 shares in the last quarter. Norges Bank bought a new position in Travere Therapeutics in the 2nd quarter valued at about $1,051,000. First Trust Advisors LP acquired a new position in Travere Therapeutics during the 2nd quarter valued at about $3,538,000. Cresset Asset Management LLC boosted its stake in Travere Therapeutics by 26.5% during the 2nd quarter. Cresset Asset Management LLC now owns 28,875 shares of the company’s stock valued at $427,000 after purchasing an additional 6,047 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in Travere Therapeutics by 106.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 604,128 shares of the company’s stock worth $8,941,000 after purchasing an additional 311,137 shares in the last quarter.

Insider Buying and Selling

In other Travere Therapeutics news, Director Roy D. Baynes sold 32,750 shares of Travere Therapeutics stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $41.29, for a total value of $1,352,247.50. Following the sale, the director owned 37,500 shares of the company’s stock, valued at approximately $1,548,375. The trade was a 46.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Sandra Calvin sold 21,977 shares of the business’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $41.07, for a total transaction of $902,595.39. Following the completion of the transaction, the chief accounting officer owned 42,353 shares in the company, valued at approximately $1,739,437.71. The trade was a 34.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 404,515 shares of company stock worth $16,340,228 in the last ninety days. Corporate insiders own 4.44% of the company’s stock.

Travere Therapeutics Stock Performance

Shares of Travere Therapeutics stock opened at $54.14 on Thursday. The business’s fifty day simple moving average is $43.07 and its 200 day simple moving average is $35.63. The firm has a market capitalization of $5.03 billion, a P/E ratio of -235.38 and a beta of 1.13. Travere Therapeutics, Inc. has a 12 month low of $13.88 and a 12 month high of $55.11. The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. TD Cowen raised their target price on Travere Therapeutics from $45.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Wells Fargo & Company raised their price objective on Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Guggenheim lifted their price objective on shares of Travere Therapeutics from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Piper Sandler upgraded shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 target price for the company in a research note on Tuesday, April 14th. Finally, Citigroup increased their target price on shares of Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a report on Monday. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.83.

Travere Therapeutics Company 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.