Aigen Investment Management LP Acquires Shares of 11,183 Travere Therapeutics, Inc. $TVTX

Aigen Investment Management LP acquired a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,183 shares of the company’s stock, valued at approximately $427,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Travere Therapeutics by 10.3% during the third quarter. Vanguard Group Inc. now owns 6,613,368 shares of the company’s stock valued at $158,059,000 after purchasing an additional 619,085 shares in the last quarter. State Street Corp lifted its holdings in Travere Therapeutics by 47.8% during the fourth quarter. State Street Corp now owns 4,756,666 shares of the company’s stock valued at $181,752,000 after purchasing an additional 1,538,827 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Travere Therapeutics by 27.4% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company’s stock valued at $41,203,000 after purchasing an additional 599,102 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Travere Therapeutics by 28.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,246,779 shares of the company’s stock valued at $85,849,000 after purchasing an additional 494,665 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Travere Therapeutics by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 2,143,495 shares of the company’s stock valued at $81,915,000 after purchasing an additional 5,465 shares in the last quarter.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, insider Jula Inrig sold 2,174 shares of Travere Therapeutics stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $46.65, for a total transaction of $101,417.10. Following the completion of the sale, the insider directly owned 113,549 shares in the company, valued at $5,297,060.85. This trade represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William E. Rote sold 2,763 shares of Travere Therapeutics stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $43.95, for a total transaction of $121,433.85. Following the sale, the insider owned 115,474 shares of the company’s stock, valued at approximately $5,075,082.30. This represents a 2.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 390,015 shares of company stock valued at $15,614,528. 4.44% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TVTX has been the topic of several recent analyst reports. TD Cowen increased their price objective on shares of Travere Therapeutics from $45.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Weiss Ratings raised shares of Travere Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. decreased their price objective on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. Guggenheim increased their price objective on shares of Travere Therapeutics from $54.00 to $56.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, HC Wainwright raised their price target on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.83.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $53.80 on Tuesday. Travere Therapeutics, Inc. has a 12-month low of $13.88 and a 12-month high of $53.88. The stock has a market cap of $5.00 billion, a P/E ratio of -233.90 and a beta of 1.13. The company has a 50-day moving average price of $42.17 and a 200 day moving average price of $35.38. The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.29. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The firm had revenue of $127.20 million during the quarter, compared to analysts’ expectations of $136.23 million. During the same period last year, the business earned ($0.47) earnings per share. Travere Therapeutics’s revenue was up 55.6% compared to the same quarter last year. Sell-side analysts anticipate that Travere Therapeutics, Inc. will post -0.29 earnings per share for the current year.

Travere Therapeutics 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.