Squarepoint Ops LLC Grows Position in Travere Therapeutics, Inc. $TVTX

Squarepoint Ops LLC increased its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 98.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 479,394 shares of the company’s stock after buying an additional 238,070 shares during the quarter. Squarepoint Ops LLC owned about 0.54% of Travere Therapeutics worth $7,095,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in Travere Therapeutics by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 684,543 shares of the company’s stock valued at $12,267,000 after purchasing an additional 22,940 shares during the period. Swiss National Bank grew its stake in shares of Travere Therapeutics by 4.1% in the first quarter. Swiss National Bank now owns 158,100 shares of the company’s stock worth $2,833,000 after acquiring an additional 6,200 shares in the last quarter. Nuveen LLC purchased a new stake in Travere Therapeutics during the 1st quarter worth about $21,569,000. Aberdeen Group plc raised its holdings in Travere Therapeutics by 22.5% in the first quarter. Aberdeen Group plc now owns 480,369 shares of the company’s stock valued at $8,608,000 after acquiring an additional 88,369 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Travere Therapeutics by 7.2% in the 1st quarter. Northern Trust Corp now owns 808,687 shares of the company’s stock valued at $14,492,000 after purchasing an additional 54,292 shares in the last quarter.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $34.83 on Monday. The firm has a fifty day moving average of $32.08 and a 200-day moving average of $22.92. Travere Therapeutics, Inc. has a 52-week low of $12.91 and a 52-week high of $37.50. The company has a quick ratio of 2.71, a current ratio of 2.75 and a debt-to-equity ratio of 4.23. The firm has a market capitalization of $3.12 billion, a P/E ratio of -32.86 and a beta of 0.89.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.59. The firm had revenue of $164.86 million during the quarter, compared to the consensus estimate of $106.09 million. Travere Therapeutics had a negative return on equity of 178.68% and a negative net margin of 20.32%.The firm’s quarterly revenue was up 162.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.70) EPS. As a group, analysts predict that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Insider Activity

In other news, insider Elizabeth E. Reed sold 10,000 shares of Travere Therapeutics stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $25.00, for a total transaction of $250,000.00. Following the sale, the insider directly owned 89,878 shares of the company’s stock, valued at approximately $2,246,950. The trade was a 10.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher R. Cline sold 20,000 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $35.01, for a total value of $700,200.00. Following the completion of the transaction, the chief financial officer owned 92,083 shares in the company, valued at approximately $3,223,825.83. This trade represents a 17.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 243,368 shares of company stock worth $7,910,972 in the last ninety days. 4.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TVTX has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price objective on Travere Therapeutics from $20.00 to $25.00 and gave the company a “hold” rating in a report on Friday, September 12th. HC Wainwright reaffirmed a “buy” rating and issued a $47.00 target price on shares of Travere Therapeutics in a report on Friday, November 28th. Piper Sandler increased their price target on shares of Travere Therapeutics from $26.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Wells Fargo & Company lifted their price objective on shares of Travere Therapeutics from $27.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Finally, Zacks Research downgraded shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.71.

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.