Semanteon Capital Management LP Purchases Shares of 36,699 Travere Therapeutics, Inc. (NASDAQ:TVTX)

Semanteon Capital Management LP acquired a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 36,699 shares of the company’s stock, valued at approximately $513,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Creative Planning boosted its position in shares of Travere Therapeutics by 4.3% during the third quarter. Creative Planning now owns 23,938 shares of the company’s stock valued at $335,000 after buying an additional 995 shares during the last quarter. CWM LLC boosted its holdings in Travere Therapeutics by 158.5% during the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after acquiring an additional 3,065 shares during the last quarter. Diversified Trust Co bought a new stake in shares of Travere Therapeutics in the 3rd quarter worth $161,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Travere Therapeutics by 203.0% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock valued at $5,055,000 after purchasing an additional 412,000 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Travere Therapeutics in the second quarter valued at about $291,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Piper Sandler upped their price objective on shares of Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Leerink Partners reaffirmed an “outperform” rating and set a $20.00 price target on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Guggenheim boosted their price objective on Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. HC Wainwright reduced their price objective on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Finally, Wedbush lifted their target price on Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.38.

Travere Therapeutics Stock Performance

Shares of TVTX stock opened at $17.88 on Tuesday. The firm’s 50 day moving average is $13.81 and its 200 day moving average is $9.82. The stock has a market capitalization of $1.37 billion, a P/E ratio of -9.51 and a beta of 0.73. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $19.25. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96.

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

Insiders Place Their Bets

In other 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 directly owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Eric M. Dube sold 21,125 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 $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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jula Inrig sold 2,191 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $25,240.32. Following the completion of the sale, the insider now owns 62,633 shares in the company, valued at $721,532.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,707 shares of company stock worth $1,504,312 in the last quarter. 4.06% of the stock is owned by company insiders.

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.