Y Intercept Hong Kong Ltd Lowers Stock Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Y Intercept Hong Kong Ltd lowered its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 70.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 28,217 shares of the company's stock after selling 67,065 shares during the period. Y Intercept Hong Kong Ltd's holdings in Travere Therapeutics were worth $395,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in shares of Travere Therapeutics by 33.9% in the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company's stock worth $24,244,000 after purchasing an additional 747,406 shares during the period. Emerald Advisers LLC increased its holdings in shares of Travere Therapeutics by 19.8% in the third quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company's stock worth $27,430,000 after purchasing an additional 323,513 shares during the period. Finepoint Capital LP increased its holdings in shares of Travere Therapeutics by 0.3% in the third quarter. Finepoint Capital LP now owns 1,782,267 shares of the company's stock worth $24,934,000 after purchasing an additional 5,539 shares during the period. Emerald Mutual Fund Advisers Trust increased its holdings in shares of Travere Therapeutics by 26.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company's stock worth $16,588,000 after purchasing an additional 244,444 shares during the period. Finally, Parkman Healthcare Partners LLC increased its holdings in shares of Travere Therapeutics by 12.0% in the third 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.

Insider Activity

In related news, Director Gary A. Lyons sold 40,000 shares of the firm's stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $14.73, for a total transaction of $589,200.00. Following the completion of the sale, the director now owns 51,000 shares of the company's stock, valued at $751,230. This trade represents a 43.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sandra Calvin sold 12,090 shares of Travere Therapeutics 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 completion of the sale, the chief accounting officer now directly owns 54,927 shares of the company's stock, valued at approximately $1,005,164.10. This trade represents a 18.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,090 shares of company stock worth $1,372,847. Insiders own 4.06% of the company's stock.

Travere Therapeutics Trading Down 2.1 %

Shares of NASDAQ TVTX traded down $0.36 during trading hours on Tuesday, hitting $17.14. The company's stock had a trading volume of 1,320,310 shares, compared to its average volume of 1,384,680. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -3.77 and a beta of 0.69. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $20.33. The business has a 50-day simple moving average of $18.16 and a 200-day simple moving average of $12.88.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TVTX. Citigroup decreased their price target on shares of Travere Therapeutics from $23.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, September 27th. Guggenheim upped their target price on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Scotiabank upped their target price on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a "sector outperform" rating in a research report on Friday, November 1st. Leerink Partners reiterated an "outperform" rating and issued a $20.00 target price on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Finally, Canaccord Genuity Group cut their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a "buy" rating for the company in a research report on Monday, September 30th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.62.

About Travere Therapeutics

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.