Cubist Systematic Strategies LLC Has $2.85 Million Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Cubist Systematic Strategies LLC cut its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 0.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 346,068 shares of the company’s stock after selling 2,062 shares during the quarter. Cubist Systematic Strategies LLC owned 0.45% of Travere Therapeutics worth $2,845,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TVTX. Vanguard Group Inc. lifted its holdings in shares of Travere Therapeutics by 13.6% during the first quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock worth $48,310,000 after purchasing an additional 750,686 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Travere Therapeutics by 912.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock valued at $18,200,000 after acquiring an additional 1,995,419 shares during the period. Kynam Capital Management LP grew its position in shares of Travere Therapeutics by 105.6% during the 4th quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock valued at $17,980,000 after acquiring an additional 1,027,398 shares during the period. Parkman Healthcare Partners LLC grew its position in shares of Travere Therapeutics by 76.4% during the 4th quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock valued at $9,159,000 after acquiring an additional 441,318 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Travere Therapeutics during the 4th quarter valued at approximately $5,711,000.

Analysts Set New Price Targets

TVTX has been the subject of several research analyst reports. Citigroup dropped their price objective on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Friday. Guggenheim reduced their target price on Travere Therapeutics from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Friday. Barclays boosted their price target on Travere Therapeutics from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. HC Wainwright dropped their price target on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Piper Sandler upped their price objective on Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.82.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $14.01 on Monday. 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 capitalization of $1.07 billion, a P/E ratio of -6.67 and a beta of 0.71. The company has a 50 day moving average price of $10.66 and a 200 day moving average price of $8.45. Travere Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $15.36.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). The business had revenue of $54.12 million during the quarter, compared to analyst estimates of $49.50 million. Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. Equities research analysts forecast that Travere Therapeutics, Inc. will post -3.95 EPS for the current year.

Insider Activity

In related news, SVP William E. Rote sold 4,387 shares of the company’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 transaction of $50,538.24. Following the completion of the transaction, the senior vice president now owns 84,455 shares of the company’s stock, valued at $972,921.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Eric M. Dube sold 21,125 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 value of $243,360.00. Following the sale, the chief executive officer now owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP William E. Rote sold 4,387 shares of the firm’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 $50,538.24. Following the transaction, the senior vice president now directly owns 84,455 shares in the company, valued at approximately $972,921.60. The disclosure for this sale can be found here. Insiders sold a total of 30,707 shares of company stock valued at $352,712 over the last 90 days. Insiders own 3.75% of the company’s stock.

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.