Travere Therapeutics, Inc. $TVTX Shares Purchased by Legato Capital Management LLC

Legato Capital Management LLC lifted its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 23.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,536 shares of the company’s stock after acquiring an additional 16,506 shares during the period. Legato Capital Management LLC owned 0.10% of Travere Therapeutics worth $3,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of Travere Therapeutics in the 2nd quarter valued at $33,000. Torren Management LLC acquired a new position in shares of Travere Therapeutics in the 4th quarter valued at $38,000. Comerica Bank increased its position in shares of Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after acquiring an additional 492 shares during the period. Garner Asset Management Corp acquired a new position in shares of Travere Therapeutics in the 4th quarter valued at $69,000. Finally, Headlands Technologies LLC acquired a new position in shares of Travere Therapeutics in the 2nd quarter valued at $73,000.

Insider Activity at Travere Therapeutics

In other news, insider Elizabeth E. Reed sold 2,076 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $43.95, for a total transaction of $91,240.20. Following the sale, the insider directly owned 105,211 shares in the company, valued at $4,624,023.45. This trade represents a 1.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Eric M. Dube sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $43.95, for a total value of $988,875.00. Following the sale, the chief executive officer owned 432,886 shares in the company, valued at $19,025,339.70. This trade represents a 4.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 400,015 shares of company stock worth $15,895,428 in the last three months. Company insiders own 4.44% of the company’s stock.

Travere Therapeutics Price Performance

Shares of TVTX opened at $44.43 on Friday. The business’s 50-day moving average is $36.08 and its two-hundred day moving average is $34.00. The company has a market capitalization of $4.13 billion, a P/E ratio of -193.17 and a beta of 1.13. The company has a debt-to-equity ratio of 3.16, a quick ratio of 3.08 and a current ratio of 3.13. Travere Therapeutics, Inc. has a fifty-two week low of $13.88 and a fifty-two week high of $48.61.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.29. The company had revenue of $127.20 million for the quarter, compared to the consensus estimate of $136.23 million. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The firm’s revenue for the quarter was up 55.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.47) EPS. Research analysts predict that Travere Therapeutics, Inc. will post -0.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TVTX has been the topic of several research reports. Weiss Ratings raised Travere Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. Piper Sandler raised Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 target price on the stock in a research report on Tuesday, April 14th. Guggenheim upped their target price on Travere Therapeutics from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Wedbush upped their target price on Travere Therapeutics from $53.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. cut their price target on Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $47.83.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.