Travere Therapeutics, Inc. $TVTX Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP grew its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 354.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 68,317 shares of the company’s stock after buying an additional 53,283 shares during the period. Quantinno Capital Management LP owned 0.07% of Travere Therapeutics worth $2,030,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised its position in shares of Travere Therapeutics by 47.8% in the 4th quarter. State Street Corp now owns 4,756,666 shares of the company’s stock worth $181,752,000 after buying an additional 1,538,827 shares during the period. Perceptive Advisors LLC grew its position in Travere Therapeutics by 12.7% during the fourth quarter. Perceptive Advisors LLC now owns 4,278,180 shares of the company’s stock valued at $163,469,000 after acquiring an additional 483,565 shares during the period. Adage Capital Partners GP L.L.C. grew its position in Travere Therapeutics by 27.4% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company’s stock valued at $41,203,000 after acquiring an additional 599,102 shares during the period. Renaissance Technologies LLC increased its stake in Travere Therapeutics by 28.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,246,779 shares of the company’s stock worth $85,849,000 after acquiring an additional 494,665 shares during the last quarter. Finally, Rock Springs Capital Management LP increased its stake in Travere Therapeutics by 2.1% during the fourth quarter. Rock Springs Capital Management LP now owns 2,210,322 shares of the company’s stock worth $84,456,000 after acquiring an additional 45,549 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Guggenheim lifted their price objective on Travere Therapeutics from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Wells Fargo & Company increased their target price on shares of Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. TD Cowen raised their price target on shares of Travere Therapeutics from $60.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Wedbush raised their price target on shares of Travere Therapeutics from $61.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Finally, Piper Sandler raised shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price target on the stock in a research report on Tuesday, April 14th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.67.

Insider Activity

In other news, Director Roy D. Baynes sold 4,500 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $50.00, for a total value of $225,000.00. Following the completion of the sale, the director owned 41,500 shares in the company, valued at approximately $2,075,000. This trade represents a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.07, for a total value of $500,700.00. Following the sale, the director owned 56,250 shares in the company, valued at approximately $2,816,437.50. The trade was a 15.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.44% of the stock is owned by corporate insiders.

Travere Therapeutics Stock Down 1.1%

Shares of NASDAQ TVTX opened at $60.21 on Wednesday. The stock has a fifty day moving average price of $55.54 and a 200 day moving average price of $41.83. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58. Travere Therapeutics, Inc. has a 12-month low of $17.05 and a 12-month high of $66.24. The company has a market cap of $5.68 billion, a P/E ratio of -130.89 and a beta of 1.12.

About Travere Therapeutics

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.