Sei Investments Co. Takes Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Sei Investments Co. acquired a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the second quarter, according to its most recent filing with the SEC. The fund acquired 14,226 shares of the company’s stock, valued at approximately $117,000.

Other institutional investors have also added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in shares of Travere Therapeutics during the 4th quarter valued at about $175,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Travere Therapeutics in the 4th quarter worth approximately $5,711,000. Los Angeles Capital Management LLC bought a new position in shares of Travere Therapeutics in the 1st quarter worth approximately $720,000. Hennion & Walsh Asset Management Inc. raised its position in shares of Travere Therapeutics by 14.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 40,790 shares of the company’s stock worth $314,000 after acquiring an additional 5,123 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in Travere Therapeutics by 68.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock valued at $113,000 after buying an additional 5,962 shares in the last quarter.

Insiders Place Their Bets

In other news, Director Gary A. Lyons sold 40,000 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $14.73, for a total value of $589,200.00. Following the transaction, the director now owns 51,000 shares of the company’s stock, valued at approximately $751,230. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP William E. Rote sold 4,387 shares of Travere Therapeutics 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 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gary A. Lyons sold 40,000 shares of Travere Therapeutics stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $14.73, for a total transaction of $589,200.00. Following the completion of the transaction, the director now directly owns 51,000 shares of the company’s stock, valued at $751,230. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,707 shares of company stock valued at $1,504,312 over the last quarter. Company insiders own 3.75% of the company’s stock.

Travere Therapeutics Stock Performance

NASDAQ TVTX opened at $16.41 on Friday. The company has a fifty day moving average of $11.78 and a two-hundred day moving average of $8.96. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $18.60. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. The company has a market capitalization of $1.26 billion, a PE ratio of -8.73 and a beta of 0.73.

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

Wall Street Analyst Weigh In

A number of research firms have commented on TVTX. Leerink Partners reissued an “outperform” rating and issued a $20.00 target price on shares of Travere Therapeutics in a report on Tuesday. Barclays boosted their target price on Travere Therapeutics from $14.00 to $18.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Guggenheim upped their target price on Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday. Wedbush raised their target price on Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Citigroup dropped their target price on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Travere Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $19.75.

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.