Renaissance Technologies LLC Has $18.12 Million Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Renaissance Technologies LLC decreased its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 23.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,203,814 shares of the company’s stock after selling 658,200 shares during the period. Renaissance Technologies LLC owned about 2.89% of Travere Therapeutics worth $18,115,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. acquired a new stake in shares of Travere Therapeutics in the second quarter worth $343,000. Rice Hall James & Associates LLC boosted its position in Travere Therapeutics by 3.8% during the 2nd quarter. Rice Hall James & Associates LLC now owns 76,174 shares of the company’s stock worth $626,000 after acquiring an additional 2,774 shares during the period. Quest Partners LLC grew its stake in Travere Therapeutics by 240.6% during the 2nd quarter. Quest Partners LLC now owns 14,336 shares of the company’s stock valued at $118,000 after acquiring an additional 10,127 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Travere Therapeutics by 202.6% in the 2nd quarter. Acadian Asset Management LLC now owns 144,901 shares of the company’s stock valued at $1,190,000 after purchasing an additional 97,020 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of Travere Therapeutics by 17.4% in the second quarter. Rhumbline Advisers now owns 125,660 shares of the company’s stock worth $1,033,000 after purchasing an additional 18,645 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TVTX shares. HC Wainwright boosted their price objective on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. upped their price target on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Bank of America lifted their price objective on Travere Therapeutics from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Canaccord Genuity Group raised their price target on Travere Therapeutics from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Wedbush boosted their price target on Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.58.

Travere Therapeutics Trading Up 1.0 %

NASDAQ:TVTX opened at $15.21 on Friday. The company’s 50 day moving average is $10.20 and its 200-day moving average is $8.23. The company has a quick ratio of 2.99, a current ratio of 3.04 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 $15.26. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -7.24 and a beta of 0.71.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The firm had revenue of $54.12 million during the quarter, compared to the consensus estimate of $49.50 million. Equities analysts anticipate that Travere Therapeutics, Inc. will post -3.96 EPS for the current year.

Insider Buying and Selling

In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $50,538.24. Following the sale, the senior vice president now owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jula Inrig sold 2,191 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $25,240.32. Following the completion of the sale, the insider now owns 62,633 shares in the company, valued at $721,532.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP William E. Rote sold 4,387 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $50,538.24. Following the completion of the transaction, the senior vice president now directly owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,707 shares of company stock valued at $352,712. Insiders own 3.75% of the company’s stock.

Travere Therapeutics 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.