Silverarc Capital Management LLC Makes New Investment in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Silverarc Capital Management LLC bought a new position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 277,365 shares of the company's stock, valued at approximately $4,832,000. Silverarc Capital Management LLC owned 0.36% of Travere Therapeutics at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TVTX. Entropy Technologies LP acquired a new stake in shares of Travere Therapeutics in the fourth quarter valued at $214,000. US Bancorp DE raised its position in Travere Therapeutics by 323.4% in the fourth quarter. US Bancorp DE now owns 31,795 shares of the company's stock worth $554,000 after acquiring an additional 24,286 shares in the last quarter. Geode Capital Management LLC lifted its holdings in 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 acquiring an additional 64,744 shares during the last quarter. Swiss National Bank boosted its position in shares of Travere Therapeutics by 12.8% during the 4th quarter. Swiss National Bank now owns 151,900 shares of the company's stock valued at $2,646,000 after purchasing an additional 17,200 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of Travere Therapeutics in the 4th quarter worth approximately $14,222,000.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CFO Christopher R. Cline sold 5,192 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $20.12, for a total value of $104,463.04. Following the completion of the sale, the chief financial officer now directly owns 90,038 shares of the company's stock, valued at $1,811,564.56. The trade was a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP William E. Rote sold 8,951 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $19.78, for a total transaction of $177,050.78. Following the transaction, the senior vice president now owns 95,719 shares in the company, valued at approximately $1,893,321.82. This trade represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,330 shares of company stock valued at $3,507,377. 3.75% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on TVTX shares. Evercore ISI increased their target price on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. raised their price objective on Travere Therapeutics from $42.00 to $44.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a report on Friday, April 11th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Travere Therapeutics in a report on Wednesday. Finally, HC Wainwright lifted their price target on Travere Therapeutics from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $32.08.

Travere Therapeutics Stock Up 4.0 %

Travere Therapeutics stock traded up $0.70 during trading hours on Friday, hitting $18.33. The company had a trading volume of 1,323,100 shares, compared to its average volume of 1,515,729. Travere Therapeutics, Inc. has a fifty-two week low of $5.21 and a fifty-two week high of $25.29. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The firm has a market capitalization of $1.63 billion, a P/E ratio of -4.47 and a beta of 0.84. The firm's fifty day moving average is $18.25 and its 200-day moving average is $18.63.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share 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 return on equity of 1,636.87% and a negative net margin of 137.90%. On average, research analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

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.