Quest Partners LLC Acquires 10,127 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Quest Partners LLC raised its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 240.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,336 shares of the company’s stock after purchasing an additional 10,127 shares during the period. Quest Partners LLC’s holdings in Travere Therapeutics were worth $118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of TVTX. Vanguard Group Inc. grew its holdings in shares of Travere Therapeutics by 13.6% during the first quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock valued at $48,310,000 after buying an additional 750,686 shares during the last quarter. Assenagon Asset Management S.A. increased 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 valued at $18,200,000 after purchasing an additional 1,995,419 shares during the period. Kynam Capital Management LP increased 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 valued at $17,980,000 after purchasing an additional 1,027,398 shares during the period. Finepoint Capital LP raised its stake in shares of Travere Therapeutics by 60.2% in the fourth quarter. Finepoint Capital LP now owns 1,435,321 shares of the company’s stock worth $12,904,000 after purchasing an additional 539,500 shares during the last quarter. Finally, Parkman Healthcare Partners LLC boosted its position in Travere Therapeutics by 76.4% in the fourth quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock valued at $9,159,000 after buying an additional 441,318 shares during the last quarter.

Travere Therapeutics Trading Up 5.9 %

Shares of Travere Therapeutics stock opened at $14.27 on Tuesday. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $14.72. The firm has a market capitalization of $1.09 billion, a PE ratio of -6.80 and a beta of 0.71. The firm’s 50-day moving average price is $9.79 and its 200 day moving average price is $8.04.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $54.12 million during the quarter, compared to analyst estimates of $49.50 million. On average, sell-side analysts predict that Travere Therapeutics, Inc. will post -3.96 EPS for the current fiscal year.

Insider Activity

In related news, SVP William E. Rote sold 4,387 shares of the 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 completion of the sale, the senior vice president now owns 84,455 shares of the company’s stock, valued at $972,921.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 transaction of $50,538.24. Following the completion of the sale, the senior vice president now directly owns 84,455 shares in the company, valued at $972,921.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jula Inrig sold 2,191 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 $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 disclosure for this sale can be found here. Insiders sold 30,707 shares of company stock worth $352,712 over the last ninety days. Corporate insiders own 3.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on TVTX shares. Barclays lifted their price objective on shares of Travere Therapeutics from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Guggenheim raised shares of Travere Therapeutics from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Monday, September 9th. Bank of America raised their target price on Travere Therapeutics from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Citigroup boosted their price target on Travere Therapeutics from $14.00 to $23.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.58.

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.