Bellevue Group AG Takes Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Bellevue Group AG bought a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 31,000 shares of the company's stock, valued at approximately $434,000.

Several other hedge funds also recently made changes to their positions in the business. CWM LLC raised its stake in Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company's stock valued at $70,000 after purchasing an additional 3,065 shares in the last quarter. DRW Securities LLC acquired a new position in shares of Travere Therapeutics in the 2nd quarter valued at approximately $95,000. Forefront Analytics LLC lifted its holdings in shares of Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company's stock worth $109,000 after acquiring an additional 1,237 shares during the period. Sei Investments Co. acquired a new stake in shares of Travere Therapeutics during the 2nd quarter worth approximately $117,000. Finally, Quest Partners LLC increased its stake in Travere Therapeutics by 240.6% in the second quarter. Quest Partners LLC now owns 14,336 shares of the company's stock valued at $118,000 after acquiring an additional 10,127 shares during the last quarter.

Insider Activity at Travere Therapeutics

In related news, insider Jula Inrig sold 2,191 shares of the business's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $25,240.32. Following the transaction, the insider now owns 62,633 shares in the company, valued at $721,532.16. The trade was a 3.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William E. Rote sold 4,387 shares of the firm's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $50,538.24. Following the completion of the sale, the senior vice president now owns 84,455 shares of the company's stock, valued at $972,921.60. The trade was a 4.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,797 shares of company stock worth $1,725,559 over the last ninety days. Insiders own 3.75% of the company's stock.

Analyst Ratings Changes

TVTX has been the topic of a number of research analyst reports. Scotiabank raised their target price on Travere Therapeutics from $23.00 to $27.00 and gave the company a "sector outperform" rating in a report on Friday, November 1st. HC Wainwright reduced their price objective on Travere Therapeutics from $23.00 to $18.00 and set a "buy" rating on the stock in a research note on Friday, September 27th. Bank of America boosted their target price on Travere Therapeutics from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Canaccord Genuity Group reduced their price target on shares of Travere Therapeutics from $23.00 to $22.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. Finally, Leerink Partners reiterated an "outperform" rating and set a $20.00 price objective on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $22.62.

Travere Therapeutics Trading Up 4.0 %

Shares of Travere Therapeutics stock traded up $0.76 during trading on Monday, hitting $19.57. The company's stock had a trading volume of 1,020,245 shares, compared to its average volume of 1,395,517. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -4.27 and a beta of 0.70. Travere Therapeutics, Inc. has a 52 week low of $5.12 and a 52 week high of $20.33. The stock has a 50-day moving average price of $17.18 and a two-hundred day moving average price of $11.87. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, beating analysts' consensus estimates of ($0.71) by $0.01. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The firm had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. During the same quarter in the previous year, the company posted ($1.17) EPS. The business's revenue was up 69.6% on a year-over-year basis. Equities research analysts anticipate that Travere Therapeutics, Inc. will post -3.94 EPS for the current fiscal year.

About Travere Therapeutics

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.