PDT Partners LLC Cuts Stake in Travere Therapeutics, Inc. (NASDAQ:TVTX)

PDT Partners LLC cut its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 6.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 247,109 shares of the company’s stock after selling 17,164 shares during the period. PDT Partners LLC owned approximately 0.32% of Travere Therapeutics worth $4,305,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TVTX. AQR Capital Management LLC raised its holdings in Travere Therapeutics by 117.8% in the 4th quarter. AQR Capital Management LLC now owns 424,024 shares of the company’s stock worth $7,386,000 after acquiring an additional 229,361 shares during the last quarter. Northern Trust Corp increased its holdings in Travere Therapeutics by 11.3% in the 4th quarter. Northern Trust Corp now owns 754,395 shares of the company’s stock worth $13,142,000 after buying an additional 76,358 shares in the last quarter. Tudor Investment Corp ET AL raised its position in Travere Therapeutics by 13.3% in the 4th quarter. Tudor Investment Corp ET AL now owns 43,213 shares of the company’s stock worth $753,000 after buying an additional 5,069 shares during the last quarter. Quarry LP lifted its stake in Travere Therapeutics by 60.0% during the 4th quarter. Quarry LP now owns 12,000 shares of the company’s stock valued at $209,000 after acquiring an additional 4,500 shares during the period. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Travere Therapeutics during the 4th quarter valued at about $557,000.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, SVP William E. Rote sold 8,951 shares of Travere Therapeutics stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $19.78, for a total value of $177,050.78. Following the sale, the senior vice president now owns 95,719 shares of the company’s stock, valued at $1,893,321.82. The trade was a 8.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Christopher R. Cline sold 5,192 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $20.12, for a total transaction of $104,463.04. Following the completion of the transaction, the chief financial officer now directly owns 90,038 shares of the company’s stock, valued at approximately $1,811,564.56. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 156,330 shares of company stock valued at $3,507,377. 3.75% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group raised their price target on Travere Therapeutics from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, April 10th. JPMorgan Chase & Co. raised their target price on Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Evercore ISI increased their price objective on shares of Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. Finally, HC Wainwright upped their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.08.

Travere Therapeutics Stock Up 5.6 %

Shares of TVTX opened at $19.36 on Tuesday. Travere Therapeutics, Inc. has a 12-month low of $5.24 and a 12-month high of $25.29. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The company has a market capitalization of $1.72 billion, a PE ratio of -4.72 and a beta of 0.84. The business’s 50 day moving average is $18.17 and its 200 day moving average is $18.67.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.15). Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The company had revenue of $74.79 million for the quarter, compared to the consensus estimate of $72.38 million. Research analysts expect that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Travere Therapeutics Company Profile

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.