Walleye Capital LLC Acquires 201,282 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Walleye Capital LLC increased its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 70.1% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 488,453 shares of the company’s stock after buying an additional 201,282 shares during the quarter. Walleye Capital LLC’s holdings in Travere Therapeutics were worth $6,833,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TVTX. CWM LLC lifted its holdings in shares of Travere Therapeutics by 158.5% during the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after buying an additional 3,065 shares during the period. DRW Securities LLC purchased a new stake in shares of Travere Therapeutics during the 2nd quarter valued at about $95,000. Forefront Analytics LLC boosted its holdings in shares of Travere Therapeutics by 10.2% in the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after buying an additional 1,237 shares during the last quarter. Sei Investments Co. bought a new stake in Travere Therapeutics during the second quarter valued at approximately $117,000. Finally, Quest Partners LLC grew its position in Travere Therapeutics by 240.6% during the second quarter. Quest Partners LLC now owns 14,336 shares of the company’s stock valued at $118,000 after buying an additional 10,127 shares during the period.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Leerink Partners reiterated an “outperform” rating and set a $20.00 price target on shares of Travere Therapeutics in a research note on Tuesday, October 8th. Wells Fargo & Company upgraded Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $9.00 to $27.00 in a research report on Monday, October 21st. Scotiabank raised their price objective on Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. Canaccord Genuity Group lowered their price objective on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Citigroup reduced their target price on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 27th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.62.

Travere Therapeutics Stock Performance

Shares of NASDAQ TVTX opened at $18.81 on Friday. The company has a market cap of $1.47 billion, a P/E ratio of -4.13 and a beta of 0.70. 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 firm’s fifty day moving average is $17.18 and its two-hundred day moving average is $11.80.

Travere Therapeutics (NASDAQ:TVTX) last posted 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 return on equity of 537.74% and a negative net margin of 172.75%. The company had revenue of $62.90 million for the quarter, compared to the consensus estimate of $60.87 million. During the same period in the previous year, the business earned ($1.17) earnings per share. The firm’s revenue for the quarter was up 69.6% on a year-over-year basis. As a group, analysts anticipate that Travere Therapeutics, Inc. will post -3.94 EPS for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other news, insider Jula Inrig sold 2,191 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 $25,240.32. Following the sale, the insider now directly owns 62,633 shares in the company, valued at approximately $721,532.16. This represents a 3.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher R. Cline sold 2,490 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 transaction of $28,684.80. Following the completion of the transaction, the chief financial officer now directly owns 74,595 shares of the company’s stock, valued at approximately $859,334.40. The trade was a 3.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,797 shares of company stock valued at $1,725,559 in the last ninety days. Corporate insiders own 3.75% of the company’s stock.

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.