Travere Therapeutics, Inc. $TVTX Shares Purchased by Legato Capital Management LLC

Legato Capital Management LLC increased its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 23.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 87,536 shares of the company’s stock after acquiring an additional 16,506 shares during the period. Legato Capital Management LLC’s holdings in Travere Therapeutics were worth $3,345,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. IFP Advisors Inc grew its position in shares of Travere Therapeutics by 11,770.0% during the 4th quarter. IFP Advisors Inc now owns 2,374 shares of the company’s stock valued at $91,000 after acquiring an additional 2,354 shares during the period. PSP Research LLC acquired a new stake in shares of Travere Therapeutics during the 4th quarter valued at about $584,000. Profund Advisors LLC grew its position in shares of Travere Therapeutics by 209.3% during the 4th quarter. Profund Advisors LLC now owns 62,604 shares of the company’s stock valued at $2,392,000 after acquiring an additional 42,366 shares during the period. ProShare Advisors LLC grew its position in shares of Travere Therapeutics by 4.1% during the 4th quarter. ProShare Advisors LLC now owns 19,007 shares of the company’s stock valued at $726,000 after acquiring an additional 756 shares during the period. Finally, HighTower Advisors LLC acquired a new stake in shares of Travere Therapeutics during the 4th quarter valued at about $220,000.

Travere Therapeutics Trading Down 0.7%

Shares of Travere Therapeutics stock opened at $44.43 on Friday. The firm has a market capitalization of $4.13 billion, a PE ratio of -193.17 and a beta of 1.13. Travere Therapeutics, Inc. has a twelve month low of $13.88 and a twelve month high of $48.61. The firm’s 50-day moving average price is $36.08 and its 200 day moving average price is $34.00. The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.29. The firm had revenue of $127.20 million for the quarter, compared to analyst estimates of $136.23 million. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. Travere Therapeutics’s quarterly revenue was up 55.6% compared to the same quarter last year. During the same period last year, the company posted ($0.47) EPS. On average, sell-side analysts predict that Travere Therapeutics, Inc. will post -0.26 EPS for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 64,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $41.09, for a total value of $2,629,760.00. Following the transaction, the chief executive officer directly owned 432,886 shares of the company’s stock, valued at $17,787,285.74. This trade represents a 12.88% 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, insider Jula Inrig sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $45.00, for a total transaction of $900,000.00. Following the completion of the transaction, the insider directly owned 111,473 shares in the company, valued at $5,016,285. This trade represents a 15.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 400,015 shares of company stock worth $15,895,428 in the last three months. 4.44% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on TVTX. Guggenheim raised their target price on Travere Therapeutics from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Wall Street Zen lowered shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. HC Wainwright raised their price target on shares of Travere Therapeutics from $47.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Weiss Ratings raised shares of Travere Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. Finally, TD Cowen raised their price target on shares of Travere Therapeutics from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Ten investment 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.83.

Travere Therapeutics 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.