GSA Capital Partners LLP Invests $528,000 in Travere Therapeutics, Inc. $TVTX

GSA Capital Partners LLP acquired a new position in Travere Therapeutics, Inc. (NASDAQ:TVTX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,292 shares of the company’s stock, valued at approximately $528,000.

A number of other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in Travere Therapeutics by 53.4% during the second quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after purchasing an additional 211 shares in the last quarter. State of Wyoming bought a new position in shares of Travere Therapeutics in the fourth quarter worth about $37,000. Torren Management LLC bought a new position in shares of Travere Therapeutics in the fourth quarter worth about $38,000. Comerica Bank lifted its position in shares of Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after buying an additional 492 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new position in shares of Travere Therapeutics during the 1st quarter valued at about $35,000.

Insider Activity at Travere Therapeutics

In other news, Director Timothy Coughlin sold 10,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $50.07, for a total value of $500,700.00. Following the transaction, the director owned 56,250 shares of the company’s stock, valued at approximately $2,816,437.50. The trade was a 15.09% 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 hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy D. Baynes sold 4,500 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $50.00, for a total transaction of $225,000.00. Following the transaction, the director owned 41,500 shares of the company’s stock, valued at approximately $2,075,000. This represents a 9.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.44% of the company’s stock.

Wall Street Analysts Forecast Growth

TVTX has been the subject of several analyst reports. 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 report on Friday, June 12th. Canaccord Genuity Group lifted their price target on shares of Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wedbush upped their price target on shares of Travere Therapeutics from $61.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Wall Street Zen cut shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Citigroup raised their price objective on shares of Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.67.

Travere Therapeutics Stock Down 2.3%

Shares of TVTX opened at $64.46 on Friday. The business’s 50 day moving average is $57.85 and its 200 day moving average is $43.46. The company has a market capitalization of $6.08 billion, a PE ratio of -140.13 and a beta of 1.12. Travere Therapeutics, Inc. has a 12-month low of $17.05 and a 12-month high of $66.24. 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 (NASDAQ:TVTX) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.03. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.The business had revenue of $169.58 million during the quarter, compared to the consensus estimate of $157.27 million. During the same period in the prior year, the company posted $0.13 EPS. The firm’s revenue for the quarter was up 48.2% compared to the same quarter last year. Research analysts expect that Travere Therapeutics, Inc. will post -0.56 earnings per share for the current fiscal year.

Travere Therapeutics 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.