Invesco Ltd. Boosts Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Invesco Ltd. lifted its position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 135.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 858,942 shares of the company's stock after acquiring an additional 493,736 shares during the period. Invesco Ltd. owned 1.10% of Travere Therapeutics worth $14,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of Travere Therapeutics in the fourth quarter valued at about $53,000. Victory Capital Management Inc. purchased a new stake in Travere Therapeutics in the 4th quarter worth approximately $182,000. Baader Bank Aktiengesellschaft purchased a new stake in Travere Therapeutics during the fourth quarter worth $192,000. Entropy Technologies LP acquired a new position in shares of Travere Therapeutics in the fourth quarter worth about $214,000. Finally, E Fund Management Co. Ltd. purchased a new position in shares of Travere Therapeutics in the 4th quarter valued at about $217,000.

Insider Transactions at Travere Therapeutics

In other news, SVP William E. Rote sold 8,951 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $19.78, for a total value of $177,050.78. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric M. Dube sold 50,691 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $20.21, for a total value of $1,024,465.11. Following the transaction, the chief executive officer now directly owns 430,548 shares of the company's stock, valued at approximately $8,701,375.08. This trade represents a 10.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,330 shares of company stock worth $3,507,377 over the last 90 days. 3.75% of the stock is currently owned by insiders.

Travere Therapeutics Stock Performance

Shares of TVTX stock traded up $0.91 during trading hours on Thursday, hitting $17.61. The stock had a trading volume of 988,475 shares, compared to its average volume of 1,520,020. The stock's 50 day moving average is $18.44 and its 200 day moving average is $18.59. The firm has a market capitalization of $1.56 billion, a PE ratio of -4.29 and a beta of 0.84. Travere Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month 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.

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 net margin of 137.90% and a negative return on equity of 1,636.87%. The company had revenue of $74.79 million during the quarter, compared to analyst estimates of $72.38 million. As a group, research analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TVTX has been the topic of several recent analyst reports. Citigroup increased their price objective on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a "buy" rating in a report on Monday, February 24th. Guggenheim reaffirmed a "buy" rating and set a $47.00 target price on shares of Travere Therapeutics in a research note on Monday, April 14th. Bank of America lifted their price objective on Travere Therapeutics from $29.00 to $31.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Scotiabank reaffirmed an "outperform" rating on shares of Travere Therapeutics in a research report on Friday, April 11th. Finally, HC Wainwright boosted their price target on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. One analyst has rated the stock with a hold rating and thirteen have given 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 $32.08.

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.