Aberdeen Group plc Has $13.27 Million Stock Position in Travere Therapeutics, Inc. $TVTX

Aberdeen Group plc increased its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 86.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 896,594 shares of the company’s stock after purchasing an additional 416,225 shares during the period. Aberdeen Group plc owned 1.01% of Travere Therapeutics worth $13,270,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Arizona State Retirement System raised its holdings in Travere Therapeutics by 4.3% in the 1st quarter. Arizona State Retirement System now owns 23,364 shares of the company’s stock valued at $419,000 after acquiring an additional 968 shares during the period. E Fund Management Co. Ltd. boosted its holdings in shares of Travere Therapeutics by 8.6% during the first quarter. E Fund Management Co. Ltd. now owns 13,553 shares of the company’s stock worth $243,000 after acquiring an additional 1,072 shares during the period. Diversified Trust Co grew its position in shares of Travere Therapeutics by 8.6% in the first quarter. Diversified Trust Co now owns 15,959 shares of the company’s stock valued at $286,000 after purchasing an additional 1,258 shares during the last quarter. Oak Ridge Investments LLC grew its position in shares of Travere Therapeutics by 2.8% in the first quarter. Oak Ridge Investments LLC now owns 54,070 shares of the company’s stock valued at $969,000 after purchasing an additional 1,471 shares during the last quarter. Finally, Entropy Technologies LP increased its stake in shares of Travere Therapeutics by 18.6% during the first quarter. Entropy Technologies LP now owns 14,592 shares of the company’s stock worth $261,000 after purchasing an additional 2,292 shares during the period.

Insider Activity at Travere Therapeutics

In other news, insider Elizabeth E. Reed sold 10,000 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $25.00, for a total value of $250,000.00. Following the completion of the transaction, the insider owned 89,878 shares of the company’s stock, valued at approximately $2,246,950. This represents a 10.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 10,573 shares of company stock valued at $260,608 over the last three months. 4.19% of the stock is currently owned by corporate insiders.

Travere Therapeutics Stock Up 2.7%

Shares of TVTX opened at $26.85 on Thursday. The firm has a 50 day simple moving average of $21.80 and a two-hundred day simple moving average of $18.18. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98. Travere Therapeutics, Inc. has a one year low of $12.91 and a one year high of $28.69. The company has a market cap of $2.39 billion, a P/E ratio of -13.16 and a beta of 0.83.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.14. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The company had revenue of $94.84 million for the quarter, compared to analyst estimates of $100.18 million. During the same quarter last year, the company posted ($0.65) EPS. The company’s revenue for the quarter was up 111.5% compared to the same quarter last year. Research analysts forecast that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Scotiabank restated an “outperform” rating on shares of Travere Therapeutics in a research note on Thursday, August 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, October 8th. Wall Street Zen raised shares of Travere Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Jefferies Financial Group set a $35.00 price target on shares of Travere Therapeutics in a research report on Wednesday, September 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Travere Therapeutics from $27.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Twelve 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $35.21.

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.