Barclays PLC Increases Stock Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Barclays PLC increased its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 135.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 396,570 shares of the company’s stock after purchasing an additional 227,802 shares during the period. Barclays PLC owned 0.51% of Travere Therapeutics worth $6,908,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TVTX. Jennison Associates LLC acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth about $14,222,000. Renaissance Technologies LLC lifted its position in Travere Therapeutics by 28.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company’s stock worth $41,974,000 after acquiring an additional 534,500 shares during the period. Invesco Ltd. grew its stake in shares of Travere Therapeutics by 135.2% in the 4th quarter. Invesco Ltd. now owns 858,942 shares of the company’s stock valued at $14,963,000 after purchasing an additional 493,736 shares during the last quarter. abrdn plc purchased a new stake in shares of Travere Therapeutics during the fourth quarter worth approximately $6,829,000. Finally, Prudential Financial Inc. lifted its holdings in shares of Travere Therapeutics by 60.5% during the fourth quarter. Prudential Financial Inc. now owns 969,141 shares of the company’s stock worth $16,882,000 after purchasing an additional 365,200 shares during the period.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $17.63 on Friday. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The firm’s 50-day simple moving average is $18.34 and its 200 day simple moving average is $18.61. Travere Therapeutics, Inc. has a 52 week low of $5.12 and a 52 week high of $25.29. The firm has a market capitalization of $1.57 billion, a PE ratio of -4.30 and a beta of 0.84.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $74.79 million during the quarter, compared to analysts’ expectations of $72.38 million. On average, equities research analysts predict that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TVTX shares. Bank of America boosted their price objective on shares of Travere Therapeutics from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, April 1st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Travere Therapeutics in a report on Wednesday. Evercore ISI boosted their target price on Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Scotiabank reissued an “outperform” rating on shares of Travere Therapeutics in a report on Friday, April 11th. Finally, Citigroup upped their price objective on Travere Therapeutics from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, February 24th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.08.

Insider Buying and Selling at Travere Therapeutics

In related news, CAO Sandra Calvin sold 54,244 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total value of $1,356,100.00. Following the completion of the transaction, the chief accounting officer now owns 54,410 shares of the company’s stock, valued at approximately $1,360,250. The trade was a 49.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP William E. Rote sold 8,951 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $19.78, for a total transaction of $177,050.78. Following the sale, the senior vice president now directly owns 95,719 shares in the company, valued at $1,893,321.82. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,330 shares of company stock worth $3,507,377. 3.75% of the stock is owned by insiders.

Travere Therapeutics Profile

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.