Virtu Financial LLC Acquires New Stake in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Virtu Financial LLC bought a new position in Travere Therapeutics, Inc. (NASDAQ:TVTX) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,500 shares of the company’s stock, valued at approximately $301,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC raised its stake in shares of Travere Therapeutics by 158.5% in the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after buying an additional 3,065 shares in the last quarter. Quarry LP bought a new stake in Travere Therapeutics during the third quarter worth approximately $105,000. Diversified Trust Co bought a new position in shares of Travere Therapeutics in the third quarter valued at $161,000. DRW Securities LLC acquired a new stake in shares of Travere Therapeutics during the 2nd quarter valued at $95,000. Finally, Aigen Investment Management LP purchased a new position in shares of Travere Therapeutics during the third quarter valued at $170,000.

Analyst Upgrades and Downgrades

TVTX has been the subject of a number of research analyst reports. Wedbush increased their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Piper Sandler lifted their price objective on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Leerink Partners reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Travere Therapeutics in a research report on Tuesday, October 8th. JPMorgan Chase & Co. raised their price target on Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Finally, Bank of America boosted their price target on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.62.

Insider Activity

In other news, Director Jeffrey A. Meckler sold 40,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $14.06, for a total value of $562,400.00. Following the transaction, the director now owns 81,000 shares of the company’s stock, valued at approximately $1,138,860. This trade represents a 33.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sandra Calvin sold 12,090 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $18.30, for a total transaction of $221,247.00. Following the completion of the transaction, the chief accounting officer now directly owns 54,927 shares in the company, valued at approximately $1,005,164.10. The trade was a 18.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,090 shares of company stock worth $1,372,847. Insiders own 3.75% of the company’s stock.

Travere Therapeutics Stock Up 1.0 %

TVTX stock opened at $17.50 on Tuesday. Travere Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $20.33. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The company has a market cap of $1.37 billion, a PE ratio of -3.85 and a beta of 0.69. The business’s 50-day simple moving average is $18.12 and its 200 day simple moving average is $12.82.

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