Elmind Capital LP Boosts Stake in Travere Therapeutics, Inc. $TVTX

Elmind Capital LP boosted its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 61.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 177,600 shares of the company’s stock after purchasing an additional 67,600 shares during the period. Travere Therapeutics comprises 1.5% of Elmind Capital LP’s portfolio, making the stock its 21st largest position. Elmind Capital LP’s holdings in Travere Therapeutics were worth $5,276,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TVTX. Empowered Funds LLC increased its stake in shares of Travere Therapeutics by 2,719.8% in the first quarter. Empowered Funds LLC now owns 84,820 shares of the company’s stock worth $2,520,000 after buying an additional 81,812 shares during the last quarter. Quantinno Capital Management LP grew its holdings in Travere Therapeutics by 354.4% during the 1st quarter. Quantinno Capital Management LP now owns 68,317 shares of the company’s stock worth $2,030,000 after acquiring an additional 53,283 shares in the last quarter. Rice Hall James & Associates LLC increased its position in shares of Travere Therapeutics by 1.3% in the 1st quarter. Rice Hall James & Associates LLC now owns 92,757 shares of the company’s stock worth $2,756,000 after purchasing an additional 1,221 shares during the last quarter. Entropy Technologies LP raised its stake in shares of Travere Therapeutics by 5.7% in the 1st quarter. Entropy Technologies LP now owns 23,464 shares of the company’s stock valued at $697,000 after purchasing an additional 1,263 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Travere Therapeutics by 24.6% in the first quarter. Sei Investments Co. now owns 166,477 shares of the company’s stock worth $4,946,000 after purchasing an additional 32,882 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. HC Wainwright upped their price objective on Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Weiss Ratings lowered Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 23rd. Citigroup boosted their price target on Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a report on Monday, June 15th. TD Cowen upped their price target on Travere Therapeutics from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, Piper Sandler upgraded Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price objective on the stock in a research note on Tuesday, April 14th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.08.

Travere Therapeutics Trading Down 1.2%

NASDAQ:TVTX opened at $56.68 on Tuesday. The firm has a market capitalization of $5.27 billion, a P/E ratio of -246.42 and a beta of 1.10. The business has a 50 day simple moving average of $52.56 and a 200 day simple moving average of $39.69. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08. Travere Therapeutics, Inc. has a 12-month low of $15.03 and a 12-month high of $60.10.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.29. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The company had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $136.23 million. During the same period last year, the business posted ($0.47) earnings per share. The firm’s quarterly revenue was up 55.6% compared to the same quarter last year. Equities research analysts predict that Travere Therapeutics, Inc. will post -0.31 EPS for the current year.

Insider Transactions at Travere Therapeutics

In other news, insider William E. Rote sold 2,763 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $43.95, for a total value of $121,433.85. Following the completion of the sale, the insider directly owned 115,474 shares of the company’s stock, valued at approximately $5,075,082.30. This represents a 2.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $50.07, for a total transaction of $500,700.00. Following the completion of the transaction, the director owned 56,250 shares of the company’s stock, valued at $2,816,437.50. This trade represents a 15.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 113,413 shares of company stock worth $5,161,607 over the last quarter. Insiders own 4.44% of the company’s stock.

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.