Semanteon Capital Management LP Purchases Shares of 36,699 Travere Therapeutics, Inc. (NASDAQ:TVTX)

Semanteon Capital Management LP purchased a new position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 36,699 shares of the company's stock, valued at approximately $513,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. lifted its position in Travere Therapeutics by 912.5% in the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company's stock worth $18,200,000 after purchasing an additional 1,995,419 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Travere Therapeutics by 13.6% in the first quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company's stock valued at $48,310,000 after buying an additional 750,686 shares during the period. Millennium Management LLC boosted its stake in Travere Therapeutics by 33.9% during the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company's stock valued at $24,244,000 after buying an additional 747,406 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Travere Therapeutics by 203.0% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company's stock worth $5,055,000 after acquiring an additional 412,000 shares during the period. Finally, Affinity Asset Advisors LLC bought a new stake in Travere Therapeutics in the first quarter worth about $964,000.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Guggenheim raised their price objective on shares of Travere Therapeutics from $23.00 to $41.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Bank of America lifted their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. 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. Wedbush raised their price objective on Travere Therapeutics from $17.00 to $25.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company raised Travere Therapeutics from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $21.38.

Insider Buying and Selling

In other news, insider Jula Inrig sold 2,191 shares of Travere Therapeutics stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $25,240.32. Following the completion of the sale, the insider now directly owns 62,633 shares in the company, valued at $721,532.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Christopher R. Cline sold 2,490 shares of the company's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $28,684.80. Following the completion of the sale, the chief financial officer now directly owns 74,595 shares in the company, valued at approximately $859,334.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jula Inrig sold 2,191 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $25,240.32. Following the transaction, the insider now directly owns 62,633 shares in the company, valued at $721,532.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,707 shares of company stock worth $1,504,312. Corporate insiders own 4.06% of the company's stock.

Travere Therapeutics Stock Up 2.7 %

Shares of TVTX traded up $0.49 during trading hours on Tuesday, reaching $18.37. The company's stock had a trading volume of 838,507 shares, compared to its average volume of 1,389,964. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -9.51 and a beta of 0.73. The company has a 50 day moving average of $13.81 and a two-hundred day moving average of $9.82. Travere Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $19.25.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The company had revenue of $54.12 million during the quarter, compared to analyst estimates of $49.50 million. Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. As a group, research analysts predict that Travere Therapeutics, Inc. will post -3.95 EPS for the current fiscal year.

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.