Travere Therapeutics, Inc. $TVTX Stock Holdings Increased by AlphaQuest LLC

AlphaQuest LLC raised its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 881.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,250 shares of the company’s stock after acquiring an additional 31,659 shares during the period. AlphaQuest LLC’s holdings in Travere Therapeutics were worth $522,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Arizona State Retirement System raised its stake in Travere Therapeutics by 4.3% during 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 in the last quarter. E Fund Management Co. Ltd. raised its stake in Travere Therapeutics by 8.6% during the 1st quarter. E Fund Management Co. Ltd. now owns 13,553 shares of the company’s stock valued at $243,000 after acquiring an additional 1,072 shares in the last quarter. Diversified Trust Co raised its stake in Travere Therapeutics by 8.6% during the 1st quarter. Diversified Trust Co now owns 15,959 shares of the company’s stock valued at $286,000 after acquiring an additional 1,258 shares in the last quarter. Oak Ridge Investments LLC raised its stake in Travere Therapeutics by 2.8% during the 1st quarter. Oak Ridge Investments LLC now owns 54,070 shares of the company’s stock valued at $969,000 after acquiring an additional 1,471 shares in the last quarter. Finally, Entropy Technologies LP raised its stake in Travere Therapeutics by 18.6% during the 1st quarter. Entropy Technologies LP now owns 14,592 shares of the company’s stock valued at $261,000 after acquiring an additional 2,292 shares in the last quarter.

Travere Therapeutics Stock Performance

Shares of TVTX stock opened at $29.81 on Wednesday. Travere Therapeutics, Inc. has a 1-year low of $12.91 and a 1-year high of $30.97. The company has a current ratio of 2.00, a quick ratio of 1.98 and a debt-to-equity ratio of 9.50. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -14.61 and a beta of 0.83. The stock’s fifty day simple moving average is $23.67 and its 200-day simple moving average is $19.02.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $94.84 million for the quarter, compared to the consensus estimate of $100.18 million. During the same quarter in the previous year, the company posted ($0.65) earnings per share. Travere Therapeutics’s revenue for the quarter was up 111.5% compared to the same quarter last year. On average, sell-side analysts predict that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Travere Therapeutics news, insider Elizabeth E. Reed sold 10,000 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $25.00, for a total value of $250,000.00. Following the transaction, the insider owned 89,878 shares in the company, valued at $2,246,950. The trade was a 10.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 10,573 shares of company stock valued at $260,608 in the last quarter. Insiders own 4.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on TVTX. Zacks Research raised Travere Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. HC Wainwright reissued a “buy” rating and issued a $47.00 price objective on shares of Travere Therapeutics in a research note on Friday, September 19th. Citigroup reissued a “buy” rating on shares of Travere Therapeutics in a research note on Sunday, August 10th. Jefferies Financial Group set a $35.00 price objective on Travere Therapeutics in a research note on Wednesday, September 10th. Finally, Wedbush boosted their price objective on Travere Therapeutics from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Travere Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $35.21.

Travere Therapeutics Company 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.