Two Sigma Advisers LP Increases Stock Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Two Sigma Advisers LP lifted its position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 30.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 720,400 shares of the company's stock after buying an additional 167,100 shares during the period. Two Sigma Advisers LP owned approximately 0.92% of Travere Therapeutics worth $10,078,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Millennium Management LLC grew its position 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 buying an additional 747,406 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Travere Therapeutics by 912.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company's stock worth $18,200,000 after buying an additional 1,995,419 shares during the last quarter. Emerald Advisers LLC grew its position in shares of Travere Therapeutics by 19.8% in the 3rd quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company's stock worth $27,430,000 after buying an additional 323,513 shares during the last quarter. Finepoint Capital LP grew its position in shares of Travere Therapeutics by 0.3% in the 3rd quarter. Finepoint Capital LP now owns 1,782,267 shares of the company's stock worth $24,934,000 after buying an additional 5,539 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its stake in Travere Therapeutics by 26.0% in the 3rd 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 in the last quarter.

Insider Buying and Selling

In other news, CAO Sandra Calvin sold 12,090 shares of the company's stock in a transaction on Monday, November 25th. The shares were 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 owns 54,927 shares of the company's stock, valued at $1,005,164.10. This represents a 18.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary A. Lyons sold 40,000 shares of the company's stock in a transaction on Friday, October 4th. The stock was sold at an average price of $14.73, for a total transaction of $589,200.00. Following the sale, the director now directly owns 51,000 shares of the company's stock, valued at $751,230. The trade was a 43.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,090 shares of company stock valued at $1,372,847. 3.75% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wells Fargo & Company upgraded shares of Travere Therapeutics from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $9.00 to $27.00 in a research note on Monday, October 21st. Wedbush lifted their target price on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 9th. Barclays lifted their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Canaccord Genuity Group lowered 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 note on Monday, September 30th. Finally, Leerink Partners restated an "outperform" rating and set a $20.00 price objective on shares of Travere Therapeutics in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $22.62.

Travere Therapeutics Stock Performance

Shares of TVTX traded down $0.02 during trading hours on Tuesday, hitting $18.75. The stock had a trading volume of 1,635,754 shares, compared to its average volume of 1,384,948. 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 firm has a 50-day moving average price of $17.76 and a 200 day moving average price of $12.41. Travere Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $20.33. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -4.13 and a beta of 0.69.

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, beating the consensus estimate of ($0.71) by $0.01. The firm had revenue of $62.90 million during the quarter, compared to analysts' expectations of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The business's revenue was up 69.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.17) EPS. As a group, research analysts anticipate that Travere Therapeutics, Inc. will post -3.94 EPS for the current year.

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.