SG Americas Securities LLC boosted its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX – Free Report) by 60.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 54,691 shares of the company’s stock after purchasing an additional 20,591 shares during the period. SG Americas Securities LLC’s holdings in Travere Therapeutics were worth $1,625,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Travere Therapeutics by 13.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,777 shares of the company’s stock worth $1,029,000 after buying an additional 6,831 shares during the period. Norges Bank purchased a new stake in shares of Travere Therapeutics in the 2nd quarter valued at $1,051,000. First Trust Advisors LP purchased a new stake in shares of Travere Therapeutics in the 2nd quarter valued at $3,538,000. Cresset Asset Management LLC lifted its stake in Travere Therapeutics by 26.5% during the 2nd quarter. Cresset Asset Management LLC now owns 28,875 shares of the company’s stock worth $427,000 after acquiring an additional 6,047 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in Travere Therapeutics by 106.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 604,128 shares of the company’s stock worth $8,941,000 after acquiring an additional 311,137 shares in the last quarter.
Insider Buying and Selling
In other Travere Therapeutics news, CEO Eric M. Dube sold 64,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $41.09, for a total transaction of $2,629,760.00. Following the completion of the transaction, the chief executive officer owned 432,886 shares in the company, valued at $17,787,285.74. The trade was a 12.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy D. Baynes sold 32,750 shares of the firm’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $41.29, for a total transaction of $1,352,247.50. Following the completion of the sale, the director owned 37,500 shares in the company, valued at $1,548,375. The trade was a 46.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 334,515 shares of company stock valued at $14,184,428 over the last ninety days. 4.44% of the stock is currently owned by corporate insiders.
Travere Therapeutics Price Performance
Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.29. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The business had revenue of $127.20 million during the quarter, compared to analysts’ expectations of $136.23 million. During the same quarter last year, the business posted ($0.47) EPS. The business’s quarterly revenue was up 55.6% compared to the same quarter last year. Analysts forecast that Travere Therapeutics, Inc. will post -0.25 EPS for the current fiscal year.
Analyst Ratings Changes
Several research firms have weighed in on TVTX. HC Wainwright lifted their target price on Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Weiss Ratings cut shares of Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 23rd. TD Cowen raised their price objective on shares of Travere Therapeutics from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Canaccord Genuity Group lifted their price objective on shares of Travere Therapeutics from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Finally, Citigroup upped their target price on shares of Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.08.
View Our Latest Analysis on Travere Therapeutics
Travere Therapeutics Company Profile
Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.
The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.
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