Travere Therapeutics, Inc. (NASDAQ:TVTX) Short Interest Down 19.6% in September

Travere Therapeutics, Inc. (NASDAQ:TVTX) was the recipient of a significant drop in short interest in 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 presently 4.2 days.

Insider Buying and Selling at Travere Therapeutics

In related news, Director Jeffrey A. Meckler sold 40,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $14.06, for a total value of $562,400.00. Following the sale, the director now owns 81,000 shares of the company’s stock, valued at $1,138,860. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jeffrey A. Meckler sold 40,000 shares of Travere Therapeutics stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $14.06, for a total transaction of $562,400.00. Following the completion of the transaction, the director now directly owns 81,000 shares of the company’s stock, valued at $1,138,860. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP William E. Rote sold 4,387 shares of the business’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 completion of the transaction, 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. Over the last ninety days, insiders have sold 110,707 shares of company stock valued at $1,504,312. 3.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Travere Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Travere Therapeutics by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock worth $48,310,000 after acquiring an additional 750,686 shares during the last quarter. Millennium Management LLC boosted its holdings in Travere Therapeutics by 33.9% during the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after purchasing an additional 747,406 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Travere Therapeutics by 912.5% in the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock valued at $18,200,000 after purchasing an additional 1,995,419 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Travere Therapeutics during the 4th quarter worth about $5,711,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Travere Therapeutics by 18.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 264,816 shares of the company’s stock worth $2,177,000 after buying an additional 41,048 shares during the last quarter.

Travere Therapeutics Trading Down 4.1 %

NASDAQ TVTX opened at $16.41 on Monday. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. The stock’s 50-day moving average is $11.78 and its 200-day moving average is $8.98. Travere Therapeutics has a one year low of $5.12 and a one year high of $18.60. The firm has a market cap of $1.25 billion, a P/E ratio of -7.81 and a beta of 0.73.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The company had revenue of $54.12 million for the quarter, compared to analyst estimates of $49.50 million. Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. Sell-side analysts anticipate that Travere Therapeutics will post -3.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Guggenheim boosted their price objective on Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Wedbush upped their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Leerink Partners restated an “outperform” rating and issued a $20.00 price objective on shares of Travere Therapeutics in a research report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Finally, Citigroup decreased their price target on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.