Eversept Partners LP Reduces Stock Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Eversept Partners LP reduced its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 43.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 490,296 shares of the company's stock after selling 379,617 shares during the period. Travere Therapeutics makes up about 0.8% of Eversept Partners LP's portfolio, making the stock its 24th biggest holding. Eversept Partners LP owned approximately 0.63% of Travere Therapeutics worth $8,541,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in TVTX. Entropy Technologies LP bought a new stake in shares of Travere Therapeutics during the 4th quarter valued at approximately $214,000. US Bancorp DE raised its position in Travere Therapeutics by 323.4% during the 4th quarter. US Bancorp DE now owns 31,795 shares of the company's stock worth $554,000 after purchasing an additional 24,286 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Travere Therapeutics by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company's stock valued at $24,222,000 after buying an additional 64,744 shares during the last quarter. Swiss National Bank increased its stake in shares of Travere Therapeutics by 12.8% in the fourth quarter. Swiss National Bank now owns 151,900 shares of the company's stock valued at $2,646,000 after buying an additional 17,200 shares during the period. Finally, Jennison Associates LLC bought a new position in shares of Travere Therapeutics during the fourth quarter worth about $14,222,000.

Travere Therapeutics Stock Performance

Shares of TVTX traded up $0.70 during mid-day trading on Friday, hitting $18.33. 1,323,100 shares of the company traded hands, compared to its average volume of 1,515,729. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -4.47 and a beta of 0.84. Travere Therapeutics, Inc. has a 1 year low of $5.21 and a 1 year high of $25.29. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The stock has a 50-day moving average price of $18.34 and a two-hundred day moving average price of $18.61.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported ($0.73) EPS for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.15). Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The firm had revenue of $74.79 million for the quarter, compared to the consensus estimate of $72.38 million. Equities analysts anticipate that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TVTX. Guggenheim restated a "buy" rating and issued a $47.00 price target on shares of Travere Therapeutics in a research report on Monday, April 14th. Scotiabank reissued an "outperform" rating on shares of Travere Therapeutics in a research report on Friday, April 11th. Bank of America upped their target price on Travere Therapeutics from $29.00 to $31.00 and gave the company a "buy" rating in a research report on Tuesday, April 1st. HC Wainwright lifted their target price on Travere Therapeutics from $18.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. Finally, Citigroup lifted their price objective on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a "buy" rating in a research note on Monday, February 24th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, Travere Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $32.08.

Insider Transactions at Travere Therapeutics

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

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.