Emerald Mutual Fund Advisers Trust Has $16.59 Million Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Emerald Mutual Fund Advisers Trust grew its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 26.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,185,709 shares of the company’s stock after buying an additional 244,444 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Travere Therapeutics were worth $16,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in TVTX. Assenagon Asset Management S.A. lifted its position in Travere Therapeutics by 912.5% in the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock worth $18,200,000 after purchasing an additional 1,995,419 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Travere Therapeutics by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock worth $48,310,000 after acquiring an additional 750,686 shares during the period. Millennium Management LLC boosted its position in shares of Travere Therapeutics by 33.9% during the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after acquiring an additional 747,406 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Travere Therapeutics by 203.0% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock valued at $5,055,000 after acquiring an additional 412,000 shares during the period. Finally, Affinity Asset Advisors LLC acquired a new position in Travere Therapeutics in the first quarter worth about $964,000.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TVTX shares. Wedbush upped their price objective on Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Canaccord Genuity Group dropped their price objective on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Piper Sandler upped their price objective on shares of Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Leerink Partners reiterated an “outperform” rating and issued a $20.00 target price on shares of Travere Therapeutics in a research note on Tuesday, October 8th. Finally, Barclays increased their price target on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Travere Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $21.85.

Insiders Place Their Bets

In other news, Director Gary A. Lyons sold 40,000 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $14.73, for a total value of $589,200.00. Following the transaction, the director now owns 51,000 shares of the company’s stock, valued at $751,230. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the transaction, the chief executive officer now owns 361,975 shares of the company’s stock, valued at $4,169,952. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary A. Lyons sold 40,000 shares of the company’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 directly owns 51,000 shares of the company’s stock, valued at $751,230. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,707 shares of company stock valued at $1,504,312. Company insiders own 3.75% of the company’s stock.

Travere Therapeutics Price Performance

Shares of TVTX stock opened at $17.57 on Friday. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -3.86 and a beta of 0.70. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $19.25. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96. The stock has a 50-day moving average price of $14.53 and a 200 day moving average price of $10.09.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 360.96%. The company had revenue of $62.90 million during the quarter, compared to analysts’ expectations of $60.87 million. During the same quarter in the previous year, the company earned ($1.17) EPS. Travere Therapeutics’s revenue was up 69.6% on a year-over-year basis. Research analysts expect that Travere Therapeutics, Inc. will post -3.95 EPS for the current year.

Travere Therapeutics 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.