Aigen Investment Management LP Acquires New Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Aigen Investment Management LP bought a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,180 shares of the company’s stock, valued at approximately $170,000.

Other hedge funds have also bought and sold shares of the company. Emerald Advisers LLC grew its holdings in shares of Travere Therapeutics by 19.8% during the third quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock valued at $27,430,000 after buying an additional 323,513 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings in shares of Travere Therapeutics by 26.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company’s stock valued at $16,588,000 after purchasing an additional 244,444 shares during the period. Rice Hall James & Associates LLC raised its stake in shares of Travere Therapeutics by 24.4% in the third quarter. Rice Hall James & Associates LLC now owns 94,736 shares of the company’s stock worth $1,325,000 after purchasing an additional 18,562 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Travere Therapeutics by 64.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 14,712 shares of the company’s stock worth $206,000 after purchasing an additional 5,767 shares during the period. Finally, Semanteon Capital Management LP acquired a new position in Travere Therapeutics in the 3rd quarter worth approximately $513,000.

Insider Buying and Selling at Travere Therapeutics

In other news, CEO Eric M. Dube sold 21,125 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $243,360.00. Following the completion of the sale, the chief executive officer now directly owns 361,975 shares in the company, valued at $4,169,952. This represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gary A. Lyons sold 40,000 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $14.73, for a total transaction of $589,200.00. Following the transaction, the director now owns 51,000 shares in the company, valued at $751,230. The trade was a 43.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,707 shares of company stock valued at $1,504,312 over the last quarter. 3.75% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on TVTX shares. Piper Sandler lifted their price objective on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price target on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Wedbush lifted 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. Citigroup lowered their target price on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Finally, Leerink Partners reaffirmed an “outperform” rating and set a $20.00 target price on shares of Travere Therapeutics in a report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.62.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $17.72 on Friday. 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 company’s fifty day moving average price is $16.27 and its 200 day moving average price is $11.01. The stock has a market capitalization of $1.38 billion, a P/E ratio of -3.89 and a beta of 0.70. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $20.33.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The business 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) earnings per share. The company’s quarterly revenue was up 69.6% on a year-over-year basis. As a group, equities research analysts anticipate that Travere Therapeutics, Inc. will post -3.93 earnings per share for the current fiscal year.

Travere Therapeutics Company 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.