Travere Therapeutics, Inc. (NASDAQ:TVTX – Get Free Report) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 6,960,000 shares, a drop of 19.6% from the September 15th total of 8,660,000 shares. Based on an average daily volume of 1,660,000 shares, the short-interest ratio is currently 4.2 days.
Insider Transactions at Travere Therapeutics
In related news, CEO Eric M. Dube sold 21,125 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 361,975 shares in the company, valued at $4,169,952. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Eric M. Dube sold 21,125 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 361,975 shares in the company, valued at approximately $4,169,952. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP William E. Rote sold 4,387 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $50,538.24. Following the completion of the sale, the senior vice president now owns 84,455 shares in the company, valued at approximately $972,921.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,707 shares of company stock valued at $1,504,312 in the last three months. 3.75% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Travere Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning boosted its holdings in Travere Therapeutics by 4.3% during the 3rd quarter. Creative Planning now owns 23,938 shares of the company’s stock valued at $335,000 after acquiring an additional 995 shares during the period. Forefront Analytics LLC grew 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 purchasing an additional 1,237 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Travere Therapeutics by 9.2% in the first quarter. ProShare Advisors LLC now owns 18,421 shares of the company’s stock worth $142,000 after buying an additional 1,557 shares during the period. Rice Hall James & Associates LLC raised its holdings in Travere Therapeutics by 3.8% during the 2nd quarter. Rice Hall James & Associates LLC now owns 76,174 shares of the company’s stock valued at $626,000 after buying an additional 2,774 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Travere Therapeutics by 10.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,009 shares of the company’s stock valued at $240,000 after buying an additional 2,948 shares during the period.
Travere Therapeutics Stock Performance
TVTX traded down $0.70 during midday trading on Friday, reaching $16.41. The company had a trading volume of 4,328,178 shares, compared to its average volume of 1,408,841. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. The stock has a market cap of $1.26 billion, a PE ratio of -8.73 and a beta of 0.73. The business has a 50-day moving average price of $11.78 and a two-hundred day moving average price of $8.97. Travere Therapeutics has a 12-month low of $5.12 and a 12-month high of $18.60.
Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.03). Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. The company had revenue of $54.12 million for the quarter, compared to the consensus estimate of $49.50 million. On average, sell-side analysts expect that Travere Therapeutics will post -3.95 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on TVTX shares. Guggenheim lifted their target price on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America lifted their price target on Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays upped their price objective on Travere Therapeutics from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Leerink Partners reissued an “outperform” rating and issued a $20.00 target price on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Finally, Canaccord Genuity Group decreased their price target on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.75.
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.