E Fund Management Co. Ltd. Purchases New Position in Travere Therapeutics, Inc. $TVTX

E Fund Management Co. Ltd. purchased a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,328 shares of the company’s stock, valued at approximately $473,000.

Several other hedge funds have also bought and sold shares of TVTX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Travere Therapeutics by 13.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,777 shares of the company’s stock worth $1,029,000 after buying an additional 6,831 shares in the last quarter. Norges Bank acquired a new position in shares of Travere Therapeutics in the second quarter worth about $1,051,000. First Trust Advisors LP purchased a new stake in shares of Travere Therapeutics during the 2nd quarter worth about $3,538,000. Cresset Asset Management LLC boosted its stake in shares of Travere Therapeutics by 26.5% during the 2nd quarter. Cresset Asset Management LLC now owns 28,875 shares of the company’s stock worth $427,000 after acquiring an additional 6,047 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Travere Therapeutics by 106.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 604,128 shares of the company’s stock worth $8,941,000 after acquiring an additional 311,137 shares in the last quarter.

Travere Therapeutics Trading Down 2.3%

Shares of TVTX opened at $64.46 on Friday. Travere Therapeutics, Inc. has a 52-week low of $17.05 and a 52-week high of $66.24. The stock has a market cap of $6.08 billion, a PE ratio of -140.13 and a beta of 1.12. The firm’s fifty day moving average is $57.85 and its two-hundred day moving average is $43.46. The company has a quick ratio of 3.99, a current ratio of 4.05 and a debt-to-equity ratio of 24.58.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The business had revenue of $169.58 million during the quarter, compared to analysts’ expectations of $157.27 million. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The company’s quarterly revenue was up 48.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 earnings per share. Research analysts forecast that Travere Therapeutics, Inc. will post -0.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TVTX shares. Weiss Ratings cut Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Citigroup raised their price objective on Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Canaccord Genuity Group boosted their price objective on Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. TD Cowen upped their target price on Travere Therapeutics from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Guggenheim increased their target price on Travere Therapeutics from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $61.67.

Insider Transactions at Travere Therapeutics

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

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.