AQR Capital Management LLC Acquires 229,361 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

AQR Capital Management LLC grew its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 117.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 424,024 shares of the company’s stock after acquiring an additional 229,361 shares during the period. AQR Capital Management LLC’s holdings in Travere Therapeutics were worth $7,386,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Sterling Capital Management LLC increased its position in Travere Therapeutics by 859.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock worth $41,000 after buying an additional 2,115 shares during the last quarter. R Squared Ltd bought a new position in shares of Travere Therapeutics in the 4th quarter valued at approximately $53,000. Summit Investment Advisors Inc. lifted its holdings in Travere Therapeutics by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company’s stock worth $138,000 after purchasing an additional 667 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Travere Therapeutics during the fourth quarter worth approximately $182,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in Travere Therapeutics during the fourth quarter valued at approximately $192,000.

Analysts Set New Price Targets

Several analysts recently issued reports on TVTX shares. HC Wainwright upped their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Guggenheim reaffirmed a “buy” rating and issued a $47.00 price target on shares of Travere Therapeutics in a research report on Monday, April 14th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Travere Therapeutics in a research note on Wednesday, April 23rd. Evercore ISI increased their target price on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Bank of America lifted their price target on Travere Therapeutics from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.79.

Insider Buying and Selling

In other Travere Therapeutics news, CAO Sandra Calvin sold 54,244 shares of Travere Therapeutics stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the completion of the sale, the chief accounting officer now owns 54,410 shares of the company’s stock, valued at approximately $1,360,250. The trade was a 49.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter Heerma sold 3,074 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total value of $76,850.00. Following the completion of the sale, the insider now directly owns 127,634 shares of the company’s stock, valued at approximately $3,190,850. This trade represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,420 shares of company stock worth $2,302,575 in the last 90 days. Corporate insiders own 4.19% of the company’s stock.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock opened at $20.23 on Thursday. The firm has a market cap of $1.80 billion, a P/E ratio of -4.93 and a beta of 0.88. The firm’s 50-day simple moving average is $18.05 and its 200-day simple moving average is $18.79. Travere Therapeutics, Inc. has a twelve month low of $6.01 and a twelve month high of $25.29. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.08. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The business had revenue of $81.73 million during the quarter, compared to analysts’ expectations of $77.44 million. During the same period in the prior year, the firm posted ($1.76) EPS. Travere Therapeutics’s quarterly revenue was up 83.3% compared to the same quarter last year. As a group, research analysts expect that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Travere Therapeutics 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.