Acuta Capital Partners LLC Purchases New Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Acuta Capital Partners LLC purchased a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 19,000 shares of the company’s stock, valued at approximately $266,000.

Several other institutional investors and hedge funds have also bought and sold shares of TVTX. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Travere Therapeutics by 37.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 843,300 shares of the company’s stock valued at $11,798,000 after acquiring an additional 228,300 shares in the last quarter. Finepoint Capital LP increased its position in Travere Therapeutics by 0.3% during the 3rd quarter. Finepoint Capital LP now owns 1,782,267 shares of the company’s stock valued at $24,934,000 after purchasing an additional 5,539 shares during the period. FMR LLC raised its holdings in Travere Therapeutics by 27.5% in the 3rd quarter. FMR LLC now owns 147,416 shares of the company’s stock worth $2,062,000 after purchasing an additional 31,772 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Travere Therapeutics by 61.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 47,045 shares of the company’s stock worth $658,000 after purchasing an additional 17,931 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of Travere Therapeutics during the 3rd quarter valued at about $283,000.

Analysts Set New Price Targets

A number of research firms recently issued reports on TVTX. JPMorgan Chase & Co. raised their price objective on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Leerink Partners reissued an “outperform” rating and issued a $20.00 target price on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Citigroup dropped their price target on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Barclays increased their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Piper Sandler boosted their target price on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.62.

Insider Activity

In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $4,169,952. This represents a 5.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William E. Rote sold 4,387 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the sale, the senior vice president now directly owns 84,455 shares in the company, valued at approximately $972,921.60. The trade was a 4.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,797 shares of company stock valued at $1,725,559 over the last ninety days. 4.06% of the stock is currently owned by corporate insiders.

Travere Therapeutics Stock Down 1.9 %

Shares of Travere Therapeutics stock opened at $18.70 on Thursday. The company has a 50-day simple moving average of $16.95 and a two-hundred day simple moving average of $11.61. Travere Therapeutics, Inc. has a 52-week low of $5.12 and a 52-week high of $20.33. 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 capitalization of $1.46 billion, a PE ratio of -4.16 and a beta of 0.70.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data 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 business had revenue of $62.90 million for the quarter, compared to analysts’ expectations of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The firm’s quarterly revenue was up 69.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.17) EPS. On average, analysts anticipate that Travere Therapeutics, Inc. will post -3.94 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.