Semanteon Capital Management LP Raises Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Semanteon Capital Management LP boosted its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 131.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,783 shares of the company's stock after acquiring an additional 48,084 shares during the quarter. Travere Therapeutics accounts for 0.8% of Semanteon Capital Management LP's portfolio, making the stock its 10th largest position. Semanteon Capital Management LP owned about 0.11% of Travere Therapeutics worth $1,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in TVTX. R Squared Ltd acquired a new position in shares of Travere Therapeutics in the 4th quarter worth approximately $53,000. Quarry LP acquired a new position in Travere Therapeutics in the third quarter worth $105,000. Victory Capital Management Inc. bought a new stake in shares of Travere Therapeutics during the fourth quarter worth $182,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of Travere Therapeutics in the fourth quarter valued at $192,000. Finally, Entropy Technologies LP bought a new position in shares of Travere Therapeutics in the fourth quarter valued at about $214,000.

Travere Therapeutics Stock Performance

Shares of TVTX traded down $0.28 during mid-day trading on Tuesday, reaching $21.01. The company's stock had a trading volume of 975,544 shares, compared to its average volume of 1,419,300. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The business has a 50-day simple moving average of $20.56 and a two-hundred day simple moving average of $18.30. Travere Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $25.29. The stock has a market cap of $1.86 billion, a P/E ratio of -5.12 and a beta of 0.75.

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Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly 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). The company had revenue of $74.79 million during the quarter, compared to analyst estimates of $72.38 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. As a group, equities research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TVTX has been the topic of a number of research analyst reports. Scotiabank increased their price objective on shares of Travere Therapeutics from $27.00 to $32.00 and gave the stock a "sector outperform" rating in a report on Wednesday, February 12th. Citigroup boosted their price objective on shares of Travere Therapeutics from $31.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Cantor Fitzgerald reissued an "overweight" rating on shares of Travere Therapeutics in a research note on Friday, February 21st. JPMorgan Chase & Co. upped their price target on Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Evercore ISI lifted their price objective on Travere Therapeutics from $33.00 to $45.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $30.62.

Insider Transactions at Travere Therapeutics

In other news, CEO Eric M. Dube sold 11,375 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $24.04, for a total transaction of $273,455.00. Following the completion of the sale, the chief executive officer now directly owns 419,173 shares in the company, valued at approximately $10,076,918.92. This represents a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sandra Calvin sold 54,244 shares of the firm's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total value 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. The trade was a 49.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,335 shares of company stock valued at $4,453,012. 3.75% of the stock is currently owned by corporate insiders.

Travere Therapeutics 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.