Rock Springs Capital Management LP Has $86.64 Million Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Rock Springs Capital Management LP grew its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,973,649 shares of the company's stock after acquiring an additional 289,173 shares during the period. Travere Therapeutics accounts for 3.3% of Rock Springs Capital Management LP's investment portfolio, making the stock its 7th biggest holding. Rock Springs Capital Management LP owned 6.37% of Travere Therapeutics worth $86,641,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Jennison Associates LLC acquired a new stake in shares of Travere Therapeutics in the fourth quarter worth about $14,222,000. Renaissance Technologies LLC increased its holdings in shares of Travere Therapeutics by 28.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company's stock valued at $41,974,000 after acquiring an additional 534,500 shares during the last quarter. Invesco Ltd. raised its stake in shares of Travere Therapeutics by 135.2% in the 4th quarter. Invesco Ltd. now owns 858,942 shares of the company's stock valued at $14,963,000 after acquiring an additional 493,736 shares in the last quarter. abrdn plc acquired a new stake in Travere Therapeutics in the 4th quarter worth approximately $6,829,000. Finally, Prudential Financial Inc. boosted its position in Travere Therapeutics by 60.5% during the fourth quarter. Prudential Financial Inc. now owns 969,141 shares of the company's stock worth $16,882,000 after purchasing an additional 365,200 shares during the period.

Insider Buying and Selling

In other news, SVP William E. Rote sold 8,951 shares of the business's 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 completion of the sale, the senior vice president now owns 95,719 shares in the company, valued at $1,893,321.82. The trade was a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sandra Calvin sold 3,348 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $20.12, for a total value of $67,361.76. Following the transaction, the chief accounting officer now directly owns 63,654 shares in the company, valued at $1,280,718.48. This trade represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,330 shares of company stock worth $3,507,377 in the last quarter. Insiders own 3.75% of the company's stock.

Travere Therapeutics Price Performance

Shares of TVTX traded up $0.70 on Friday, hitting $18.33. The company's stock had a trading volume of 1,323,100 shares, compared to its average volume of 1,515,609. The company has a market capitalization of $1.63 billion, a PE ratio of -4.47 and a beta of 0.84. Travere Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $25.29. The company has a 50 day moving average price of $18.34 and a 200 day moving average price of $18.61. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $74.79 million for the quarter, compared to analyst estimates of $72.38 million. On average, research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TVTX shares. Guggenheim reissued a "buy" rating and issued a $47.00 price target on shares of Travere Therapeutics in a research report on Monday, April 14th. Evercore ISI boosted their target price on shares of Travere Therapeutics from $33.00 to $45.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Scotiabank reaffirmed an "outperform" rating on shares of Travere Therapeutics in a research report on Friday, April 11th. Citigroup boosted their price objective on Travere Therapeutics from $31.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Finally, HC Wainwright increased their target price on Travere Therapeutics from $18.00 to $22.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.08.

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.