Travere Therapeutics, Inc. $TVTX Shares Acquired by Sei Investments Co.

Sei Investments Co. raised its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 24.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 166,477 shares of the company’s stock after acquiring an additional 32,882 shares during the quarter. Sei Investments Co. owned approximately 0.18% of Travere Therapeutics worth $4,946,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TVTX. Smartleaf Asset Management LLC grew its stake in Travere Therapeutics by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock worth $45,000 after purchasing an additional 487 shares in the last quarter. Comerica Bank increased its holdings in Travere Therapeutics by 77.5% in the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after buying an additional 492 shares during the last quarter. ProShare Advisors LLC raised its stake in Travere Therapeutics by 4.1% during the fourth quarter. ProShare Advisors LLC now owns 19,007 shares of the company’s stock valued at $726,000 after buying an additional 756 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Travere Therapeutics by 26.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,348 shares of the company’s stock worth $166,000 after buying an additional 902 shares during the last quarter. Finally, State of Wyoming bought a new position in Travere Therapeutics during the 4th quarter worth approximately $37,000.

Wall Street Analyst Weigh In

TVTX has been the subject of a number of research analyst reports. Wedbush boosted their price target on Travere Therapeutics from $55.00 to $61.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. Wall Street Zen cut Travere Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Evercore reaffirmed an “outperform” rating on shares of Travere Therapeutics in a report on Wednesday. Weiss Ratings lowered shares of Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 23rd. Finally, Canaccord Genuity Group increased their target price on shares of Travere Therapeutics from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.92.

Travere Therapeutics Price Performance

Shares of TVTX opened at $62.76 on Thursday. The company has a market cap of $5.84 billion, a P/E ratio of -136.43 and a beta of 1.12. The stock has a fifty day moving average price of $54.30 and a 200 day moving average price of $40.89. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08. Travere Therapeutics, Inc. has a 12 month low of $15.60 and a 12 month high of $66.24.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.29. The company had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $136.23 million. Travere Therapeutics had a negative return on equity of 44.89% and a negative net margin of 7.35%.The firm’s quarterly revenue was up 55.6% compared to the same quarter last year. During the same period last year, the business posted ($0.47) earnings per share. On average, research analysts forecast that Travere Therapeutics, Inc. will post -0.56 earnings per share for the current year.

Insider Activity

In other Travere Therapeutics news, Director Roy D. Baynes sold 4,500 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.00, for a total transaction of $225,000.00. Following the completion of the transaction, the director directly owned 41,500 shares of the company’s stock, valued at $2,075,000. The trade was a 9.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $50.07, for a total transaction of $500,700.00. Following the completion of the sale, the director owned 56,250 shares in the company, valued at $2,816,437.50. The trade was a 15.09% decrease in their position. 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. Company insiders own 4.44% of the company’s stock.

Travere Therapeutics News Summary

Here are the key news stories impacting Travere Therapeutics this week:

• Positive Sentiment: Travere said the launch of FILSPARI for focal segmental glomerulosclerosis (FSGS) is exceeding expectations. Management indicated the drug could generate more than $3 billion in peak annual sales, materially expanding the company’s long-term revenue opportunity. Travere signals potential for more than $3B in peak annual FILSPARI sales as FSGS launch exceeds expectations
• Positive Sentiment: Second-quarter revenue was reported at approximately $169.6 million, above the roughly $157.3 million analyst estimate and up 48.2% year over year. The revenue performance supports the view that FILSPARI is gaining commercial traction. Travere Therapeutics quarterly earnings results
• Positive Sentiment: TD Cowen raised its price target on TVTX from $60 to $75 and maintained a “buy” rating, implying further upside based on the company’s growth outlook. TD Cowen raises Travere Therapeutics price target
• Neutral Sentiment: Travere will participate in upcoming Canaccord Genuity, Wells Fargo, Citi and Cantor healthcare investor conferences. These events may provide additional details on FILSPARI demand, guidance and the company’s strategy, but do not themselves change current fundamentals. Travere Therapeutics to Participate at Upcoming Investor Conferences
• Negative Sentiment: Profitability remains a risk. Coverage of the quarter showed a larger-than-expected loss in at least one report, while other reports cited a smaller loss that beat estimates. Regardless of the discrepancy, TVTX remains unprofitable, making continued FILSPARI growth and operating leverage important to the valuation. Travere Therapeutics reports second-quarter results

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.