Trexquant Investment LP Trims Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Trexquant Investment LP reduced its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 21.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 280,217 shares of the company’s stock after selling 76,491 shares during the period. Trexquant Investment LP’s holdings in Travere Therapeutics were worth $4,881,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Emerald Advisers LLC grew its position in shares of Travere Therapeutics by 8.4% in the fourth quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company’s stock valued at $37,030,000 after purchasing an additional 165,085 shares during the period. Geode Capital Management LLC grew its holdings in Travere Therapeutics by 6.4% in the 4th quarter. Geode Capital Management LLC now owns 1,842,301 shares of the company’s stock valued at $32,100,000 after buying an additional 111,256 shares during the period. Prudential Financial Inc. grew its holdings in Travere Therapeutics by 60.5% in the 4th quarter. Prudential Financial Inc. now owns 969,141 shares of the company’s stock valued at $16,882,000 after buying an additional 365,200 shares during the period. Jennison Associates LLC acquired a new position in shares of Travere Therapeutics during the 4th quarter valued at about $14,222,000. Finally, Two Sigma Advisers LP lifted its holdings in shares of Travere Therapeutics by 30.2% during the 3rd quarter. Two Sigma Advisers LP now owns 720,400 shares of the company’s stock worth $10,078,000 after acquiring an additional 167,100 shares during the period.

Travere Therapeutics Price Performance

Shares of TVTX stock opened at $14.99 on Friday. Travere Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $25.29. The company has a market capitalization of $1.33 billion, a PE ratio of -3.66 and a beta of 0.84. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The firm has a fifty day simple moving average of $20.48 and a 200-day simple moving average of $18.61.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The firm had revenue of $74.79 million during the quarter, compared to analysts’ expectations of $72.38 million. Equities research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In related news, SVP William E. Rote sold 2,437 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total value of $47,424.02. Following the sale, the senior vice president now directly owns 83,170 shares of the company’s stock, valued at $1,618,488.20. This represents a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Peter Heerma sold 1,584 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total transaction of $30,000.96. Following the transaction, the insider now directly owns 106,374 shares of the company’s stock, valued at approximately $2,014,723.56. This represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,269 shares of company stock worth $4,155,251 in the last 90 days. 3.75% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TVTX has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Travere Therapeutics in a report on Thursday. Scotiabank upped their price objective on Travere Therapeutics from $27.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Wednesday, February 12th. Citigroup lifted their target price on Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a report on Monday, February 24th. HC Wainwright boosted their price target on Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Finally, Bank of America raised their price objective on Travere Therapeutics from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $31.46.

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.