Wellington Management Group LLP Makes New $583,000 Investment in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Wellington Management Group LLP acquired a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 33,493 shares of the company's stock, valued at approximately $583,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Travere Therapeutics in the 4th quarter valued at about $1,237,000. EntryPoint Capital LLC purchased a new position in shares of Travere Therapeutics in the 4th quarter valued at approximately $359,000. Prudential Financial Inc. increased its holdings in shares of Travere Therapeutics by 60.5% in the fourth quarter. Prudential Financial Inc. now owns 969,141 shares of the company's stock valued at $16,882,000 after purchasing an additional 365,200 shares during the period. Emerald Advisers LLC raised its stake in shares of Travere Therapeutics by 8.4% during the fourth quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company's stock worth $37,030,000 after purchasing an additional 165,085 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth $448,000.

Insider Buying and Selling at Travere Therapeutics

In related news, CFO Christopher R. Cline sold 5,192 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $20.12, for a total value of $104,463.04. Following the sale, the chief financial officer now owns 90,038 shares of the company's stock, valued at approximately $1,811,564.56. This represents a 5.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric M. Dube sold 10,736 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total value of $208,922.56. Following the sale, the chief executive officer now owns 351,239 shares in the company, valued at approximately $6,835,110.94. This trade represents a 2.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 188,877 shares of company stock valued at $4,147,627 over the last quarter. Corporate insiders own 3.75% of the company's stock.

Analysts Set New Price Targets

TVTX has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Scotiabank boosted their price target on shares of Travere Therapeutics from $27.00 to $32.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, February 12th. Cantor Fitzgerald restated an "overweight" rating on shares of Travere Therapeutics in a research report on Thursday, April 3rd. Canaccord Genuity Group boosted their target price on Travere Therapeutics from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Thursday, April 10th. Finally, HC Wainwright raised their price target on Travere Therapeutics from $18.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Travere Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $32.08.

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Travere Therapeutics Stock Up 2.3 %

Travere Therapeutics stock opened at $14.83 on Tuesday. Travere Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $25.29. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -3.62 and a beta of 0.84. The stock's fifty day moving average is $19.47 and its two-hundred day moving average is $18.60. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.73) 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 business had revenue of $74.79 million during the quarter, compared to analysts' expectations of $72.38 million. Analysts predict that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal 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.

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