China Universal Asset Management Co. Ltd. Purchases 3,494 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

China Universal Asset Management Co. Ltd. raised its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 23.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,206 shares of the company’s stock after buying an additional 3,494 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Travere Therapeutics were worth $317,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TVTX. R Squared Ltd acquired a new stake in shares of Travere Therapeutics during the 4th quarter valued at about $53,000. CWM LLC boosted its holdings in Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after purchasing an additional 3,065 shares in the last quarter. Quarry LP bought a new stake in shares of Travere Therapeutics in the 3rd quarter valued at approximately $105,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Travere Therapeutics in the 4th quarter worth approximately $192,000. Finally, Diversified Trust Co bought a new position in shares of Travere Therapeutics during the 3rd quarter worth approximately $161,000.

Analyst Ratings Changes

TVTX has been the subject of several recent analyst reports. Scotiabank increased their price objective on Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. HC Wainwright lifted their price target on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Wedbush boosted their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald assumed coverage on shares of Travere Therapeutics in a report on Friday, January 10th. They set an “overweight” rating for the company. Finally, Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $9.00 to $27.00 in a report on Monday, October 21st. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Travere Therapeutics has an average rating of “Moderate Buy” and an average target price of $24.00.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $20.46 on Monday. The business’s 50-day simple moving average is $18.61 and its 200 day simple moving average is $15.32. 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 stock has a market cap of $1.60 billion, a price-to-earnings ratio of -4.50 and a beta of 0.70. Travere Therapeutics, Inc. has a 12-month low of $5.12 and a 12-month high of $21.56.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.01. The company had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The company’s revenue for the quarter was up 69.6% on a year-over-year basis. During the same quarter last year, the firm earned ($1.17) EPS. As a group, research analysts anticipate that Travere Therapeutics, Inc. will post -3.92 earnings per share for the current year.

Insider Buying and Selling at Travere Therapeutics

In other news, CAO Sandra Calvin sold 15,000 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $17.22, for a total value of $258,300.00. Following the transaction, the chief accounting officer now owns 54,927 shares of the company’s stock, valued at $945,842.94. This represents a 21.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Roy D. Baynes sold 16,000 shares of Travere Therapeutics stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $20.00, for a total value of $320,000.00. Following the sale, the director now directly owns 31,000 shares of the company’s stock, valued at approximately $620,000. This trade represents a 34.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,143 shares of company stock valued at $1,167,512. 3.75% of the stock is currently owned by insiders.

About Travere Therapeutics

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.