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

Acuta Capital Partners LLC acquired a new position in Travere Therapeutics, Inc. (NASDAQ:TVTX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 19,000 shares of the company’s stock, valued at approximately $266,000.

Other large investors also recently added to or reduced their stakes in the company. Aigen Investment Management LP purchased a new position in shares of Travere Therapeutics during the 3rd quarter worth $170,000. Assenagon Asset Management S.A. grew its holdings in Travere Therapeutics by 912.5% during the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock valued at $18,200,000 after purchasing an additional 1,995,419 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Travere Therapeutics during the third quarter valued at about $673,000. Acadian Asset Management LLC increased its position in Travere Therapeutics by 202.6% in the second quarter. Acadian Asset Management LLC now owns 144,901 shares of the company’s stock worth $1,190,000 after buying an additional 97,020 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Travere Therapeutics by 33.9% in the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after buying an additional 747,406 shares during the period.

Insider Activity at Travere Therapeutics

In other news, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $243,360.00. Following the completion of the transaction, the chief executive officer now owns 361,975 shares in the company, valued at approximately $4,169,952. The trade was a 5.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sandra Calvin sold 12,090 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $18.30, for a total value of $221,247.00. Following the sale, the chief accounting officer now owns 54,927 shares in the company, valued at $1,005,164.10. The trade was a 18.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,797 shares of company stock valued at $1,725,559. Insiders own 4.06% of the company’s stock.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $18.70 on Thursday. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -4.16 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. The stock’s 50 day simple moving average is $16.95 and its two-hundred day simple moving average is $11.61. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating 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 company had revenue of $62.90 million for the quarter, compared to the consensus estimate of $60.87 million. During the same quarter in the prior year, the firm earned ($1.17) earnings per share. Travere Therapeutics’s revenue was up 69.6% on a year-over-year basis. As a group, equities analysts anticipate that Travere Therapeutics, Inc. will post -3.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

TVTX has been the subject of several analyst reports. 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. JPMorgan Chase & Co. increased their price objective on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Bank of America lifted their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. HC Wainwright cut their price target on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Finally, Wells Fargo & Company upgraded Travere Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $9.00 to $27.00 in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Travere Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $22.62.

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.