XTX Topco Ltd Boosts Stock Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

XTX Topco Ltd lifted its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 110.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,262 shares of the company’s stock after purchasing an additional 28,480 shares during the quarter. XTX Topco Ltd owned about 0.07% of Travere Therapeutics worth $446,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in Travere Therapeutics in the 4th quarter valued at about $137,000. Crestline Management LP raised its stake in shares of Travere Therapeutics by 32.6% in the 4th quarter. Crestline Management LP now owns 81,423 shares of the company’s stock valued at $732,000 after acquiring an additional 20,002 shares during the period. Finepoint Capital LP lifted its holdings in shares of Travere Therapeutics by 60.2% in the 4th 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. Rafferty Asset Management LLC boosted its position in shares of Travere Therapeutics by 18.6% during the 4th quarter. Rafferty Asset Management LLC now owns 429,161 shares of the company’s stock worth $3,858,000 after purchasing an additional 67,168 shares during the period. Finally, Sectoral Asset Management Inc. purchased a new stake in Travere Therapeutics in the fourth quarter valued at approximately $2,469,000.

Travere Therapeutics Stock Performance

Shares of TVTX stock opened at $14.56 on Wednesday. The company has a market cap of $1.11 billion, a P/E ratio of -6.93 and a beta of 0.71. The firm has a fifty day moving average price of $10.38 and a 200 day moving average price of $8.31. 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 12 month low of $5.12 and a 12 month high of $15.36.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share (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 business had revenue of $54.12 million for the quarter, compared to analyst estimates of $49.50 million. Sell-side analysts predict that Travere Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CFO Christopher R. Cline sold 2,490 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $28,684.80. Following the transaction, the chief financial officer now owns 74,595 shares of the company’s stock, valued at $859,334.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP William E. Rote sold 4,387 shares of the company’s stock in a transaction 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 sale, the senior vice president now owns 84,455 shares in the company, valued at approximately $972,921.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Christopher R. Cline sold 2,490 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $28,684.80. Following the transaction, the chief financial officer now directly owns 74,595 shares in the company, valued at $859,334.40. The disclosure for this sale can be found here. Insiders sold a total of 30,707 shares of company stock valued at $352,712 over the last ninety days. Insiders own 3.75% of the company’s stock.

Analyst Ratings Changes

TVTX has been the topic of a number of research reports. Piper Sandler upped their price target on Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Barclays boosted their price target on shares of 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. raised their price objective on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. HC Wainwright increased their target price on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Wedbush raised their price target on shares of Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.91.

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.