Travere Therapeutics, Inc. (NASDAQ:TVTX) Stake Lifted by Rock Springs Capital Management LP

Rock Springs Capital Management LP boosted its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 6.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,973,649 shares of the company’s stock after acquiring an additional 289,173 shares during the quarter. Travere Therapeutics comprises about 3.3% of Rock Springs Capital Management LP’s portfolio, making the stock its 7th largest position. Rock Springs Capital Management LP owned 0.06% of Travere Therapeutics worth $86,641,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TVTX. Summit Investment Advisors Inc. grew its stake in shares of Travere Therapeutics by 9.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company’s stock valued at $138,000 after buying an additional 667 shares during the period. Sterling Capital Management LLC raised its holdings in shares of Travere Therapeutics by 859.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock valued at $41,000 after buying an additional 2,115 shares during the period. Rhumbline Advisers lifted its position in Travere Therapeutics by 2.2% during the 4th quarter. Rhumbline Advisers now owns 121,248 shares of the company’s stock worth $2,112,000 after acquiring an additional 2,640 shares in the last quarter. Arizona State Retirement System lifted its position in Travere Therapeutics by 13.5% during the 4th quarter. Arizona State Retirement System now owns 22,396 shares of the company’s stock worth $390,000 after acquiring an additional 2,666 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Travere Therapeutics in the 4th quarter worth approximately $53,000.

Travere Therapeutics Stock Performance

TVTX stock opened at $14.92 on Monday. The firm has a market cap of $1.32 billion, a P/E ratio of -3.64 and a beta of 0.84. The stock’s 50 day simple moving average is $18.89 and its 200 day simple moving average is $18.62. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a 12-month low of $5.12 and a 12-month high of $25.29.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The business had revenue of $74.79 million for the quarter, compared to analyst estimates of $72.38 million. As a group, equities research analysts predict that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Insiders Place Their Bets

In related news, SVP William E. Rote sold 5,200 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $23.53, for a total transaction of $122,356.00. Following the completion of the transaction, the senior vice president now directly owns 98,519 shares in the company, valued at $2,318,152.07. This represents a 5.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Peter Heerma sold 1,584 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $18.94, for a total value of $30,000.96. Following the completion of the sale, the insider now owns 106,374 shares in the company, valued at $2,014,723.56. The trade was a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,877 shares of company stock valued at $4,147,627 over the last quarter. Insiders own 3.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TVTX. Citigroup boosted their target price on shares of Travere Therapeutics from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. HC Wainwright boosted their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Scotiabank restated an “outperform” rating on shares of Travere Therapeutics in a research note on Friday, April 11th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Travere Therapeutics in a research note on Thursday, April 3rd. Finally, Evercore ISI raised their price objective on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $32.08.

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.