DRW Securities LLC Makes New $95,000 Investment in Travere Therapeutics, Inc. (NASDAQ:TVTX)

DRW Securities LLC purchased a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,598 shares of the company’s stock, valued at approximately $95,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Travere Therapeutics by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock valued at $48,310,000 after purchasing an additional 750,686 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Travere Therapeutics by 912.5% in the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock worth $18,200,000 after buying an additional 1,995,419 shares in the last quarter. Kynam Capital Management LP lifted its holdings in shares of Travere Therapeutics by 105.6% in the fourth quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock worth $17,980,000 after buying an additional 1,027,398 shares in the last quarter. Finepoint Capital LP boosted its position in shares of Travere Therapeutics by 60.2% during the fourth quarter. Finepoint Capital LP now owns 1,435,321 shares of the company’s stock worth $12,904,000 after acquiring an additional 539,500 shares during the last quarter. Finally, Parkman Healthcare Partners LLC grew its stake in Travere Therapeutics by 76.4% during the fourth quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock valued at $9,159,000 after acquiring an additional 441,318 shares in the last quarter.

Travere Therapeutics Price Performance

Shares of TVTX opened at $14.56 on Wednesday. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. The business has a fifty day moving average of $10.38 and a 200 day moving average of $8.31. Travere Therapeutics, Inc. has a 52-week low of $5.12 and a 52-week high of $15.36.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.03). Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. The firm had revenue of $54.12 million during the quarter, compared to analysts’ expectations of $49.50 million. On average, research analysts predict that Travere Therapeutics, Inc. will post -3.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on TVTX shares. Wedbush increased their price objective on shares of Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Guggenheim raised Travere Therapeutics from a “neutral” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Monday, September 9th. Barclays lifted their price objective on Travere Therapeutics from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Finally, Bank of America raised their target price on shares of Travere Therapeutics from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $17.91.

Insider Buying and Selling

In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the business’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 transaction of $243,360.00. Following the completion of the transaction, the chief executive officer now owns 361,975 shares in the company, valued at $4,169,952. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP William E. Rote sold 4,387 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $50,538.24. Following the transaction, 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 available at this link. Also, CEO Eric M. Dube sold 21,125 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the completion of the sale, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. The disclosure for this sale can be found here. Insiders have sold 30,707 shares of company stock valued at $352,712 in the last ninety days. 3.75% of the stock is owned by company insiders.

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.