Travere Therapeutics, Inc. (NASDAQ:TVTX) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,731,045 shares of the company's stock after purchasing an additional 64,744 shares during the quarter. Geode Capital Management LLC owned about 2.22% of Travere Therapeutics worth $24,222,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Two Sigma Advisers LP grew its holdings in Travere Therapeutics by 30.2% during the third quarter. Two Sigma Advisers LP now owns 720,400 shares of the company's stock worth $10,078,000 after acquiring an additional 167,100 shares during the period. Quarry LP purchased a new stake in Travere Therapeutics in the 3rd quarter worth approximately $105,000. Parkman Healthcare Partners LLC grew its stake in shares of Travere Therapeutics by 12.0% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,086,067 shares of the company's stock worth $15,194,000 after purchasing an additional 116,175 shares during the period. Bellevue Group AG purchased a new position in shares of Travere Therapeutics during the 3rd quarter valued at approximately $434,000. Finally, PDT Partners LLC lifted its stake in shares of Travere Therapeutics by 10.7% in the 3rd quarter. PDT Partners LLC now owns 264,273 shares of the company's stock valued at $3,697,000 after purchasing an additional 25,490 shares during the period.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock traded down $0.50 during trading hours on Friday, reaching $17.28. 669,097 shares of the company's stock were exchanged, compared to its average volume of 1,387,978. The business has a fifty day moving average of $18.11 and a two-hundred day moving average of $13.39. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The company has a market capitalization of $1.35 billion, a P/E ratio of -3.80 and a beta of 0.69. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $20.33.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TVTX. Bank of America lifted their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Wells Fargo & Company upgraded Travere Therapeutics from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. Guggenheim boosted their price objective on Travere Therapeutics from $23.00 to $41.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on Travere Therapeutics from $20.00 to $23.00 and gave the stock an "overweight" rating in a research note on Friday, September 13th. Finally, Leerink Partners reissued an "outperform" rating and issued a $20.00 price target on shares of Travere Therapeutics in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $23.67.

Insider Buying and Selling

In other Travere Therapeutics news, Director Gary A. Lyons sold 40,000 shares of the business's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $14.73, for a total value of $589,200.00. Following the transaction, the director now directly owns 51,000 shares in the company, valued at $751,230. The trade was a 43.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sandra Calvin sold 12,090 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $18.30, for a total transaction of $221,247.00. Following the sale, the chief accounting officer now owns 54,927 shares of the company's stock, valued at $1,005,164.10. This represents a 18.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 107,090 shares of company stock worth $1,631,147. 4.06% of the stock is 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.