Walleye Capital LLC Acquires 201,282 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Walleye Capital LLC increased its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 70.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 488,453 shares of the company’s stock after purchasing an additional 201,282 shares during the period. Walleye Capital LLC owned approximately 0.63% of Travere Therapeutics worth $6,833,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake 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. Millennium Management LLC boosted its holdings in Travere Therapeutics by 33.9% during the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after acquiring an additional 747,406 shares during the period. Assenagon Asset Management S.A. grew its position in Travere Therapeutics by 912.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock worth $18,200,000 after acquiring an additional 1,995,419 shares during the last quarter. Emerald Advisers LLC increased its stake in Travere Therapeutics by 19.8% in the 3rd quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock worth $27,430,000 after purchasing an additional 323,513 shares during the period. Finally, Finepoint Capital LP lifted its position in Travere Therapeutics by 0.3% in the third quarter. Finepoint Capital LP now owns 1,782,267 shares of the company’s stock valued at $24,934,000 after purchasing an additional 5,539 shares during the last quarter.

Insider Buying and Selling

In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of the business’s stock in a transaction 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 directly owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. The trade was a 4.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jula Inrig sold 2,191 shares of the firm’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 $25,240.32. Following the transaction, the insider now owns 62,633 shares of the company’s stock, valued at $721,532.16. The trade was a 3.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,797 shares of company stock worth $1,725,559 in the last 90 days. Insiders own 3.75% of the company’s stock.

Travere Therapeutics Stock Performance

Shares of Travere Therapeutics stock opened at $18.81 on Friday. The business has a fifty day simple moving average of $17.18 and a two-hundred day simple moving average of $11.80. The firm has a market capitalization of $1.47 billion, a P/E ratio of -4.13 and a beta of 0.70. The company has a current ratio of 1.71, a quick ratio of 1.68 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 $20.33.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The business had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. During the same quarter in the previous year, the firm posted ($1.17) earnings per share. Travere Therapeutics’s quarterly revenue was up 69.6% on a year-over-year basis. On average, equities analysts forecast that Travere Therapeutics, Inc. will post -3.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TVTX has been the topic of several recent analyst reports. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $9.00 to $27.00 in a report on Monday, October 21st. Guggenheim boosted their price objective on shares of Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Scotiabank increased their target price on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. Piper Sandler boosted their price target on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, Barclays increased their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $22.62.

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.