292,600 Shares in Travere Therapeutics, Inc. $TVTX Purchased by Elmind Capital LP

Elmind Capital LP bought a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 292,600 shares of the company’s stock, valued at approximately $16,622,606. Travere Therapeutics makes up 0.0% of Elmind Capital LP’s holdings, making the stock its 10th largest position. Elmind Capital LP owned 0.31% of Travere Therapeutics at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. S&CO Inc. acquired a new stake in Travere Therapeutics in the 2nd quarter valued at approximately $3,181,000. Stephens Investment Management Group LLC raised its stake in Travere Therapeutics by 7.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,721,623 shares of the company’s stock valued at $65,783,000 after buying an additional 121,955 shares during the period. Profund Advisors LLC grew its stake in Travere Therapeutics by 209.3% during the fourth quarter. Profund Advisors LLC now owns 62,604 shares of the company’s stock worth $2,392,000 after buying an additional 42,366 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in Travere Therapeutics in the fourth quarter valued at $1,104,000. Finally, Quantinno Capital Management LP increased its stake in Travere Therapeutics by 354.4% during the 1st quarter. Quantinno Capital Management LP now owns 68,317 shares of the company’s stock valued at $2,030,000 after purchasing an additional 53,283 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TVTX shares. Evercore set a $78.00 price objective on Travere Therapeutics in a report on Monday, August 10th. HC Wainwright increased their price objective on shares of Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. TD Cowen increased their price objective on shares of Travere Therapeutics from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Piper Sandler restated an “overweight” rating on shares of Travere Therapeutics in a report on Monday, August 17th. Finally, Wedbush increased their price target on Travere Therapeutics from $61.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.67.

Insider Activity at Travere Therapeutics

In other news, Director Timothy Coughlin sold 10,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.07, for a total transaction of $500,700.00. Following the sale, the director owned 56,250 shares of the company’s stock, valued at approximately $2,816,437.50. This represents a 15.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy D. Baynes sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $50.00, for a total value of $225,000.00. Following the completion of the sale, the director directly owned 41,500 shares of the company’s stock, valued at $2,075,000. This represents a 9.78% 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 own 4.44% of the company’s stock.

Travere Therapeutics Stock Down 2.2%

Travere Therapeutics stock traded down $1.47 during mid-day trading on Friday, reaching $66.05. The stock had a trading volume of 572,594 shares, compared to its average volume of 2,054,770. The company has a debt-to-equity ratio of 24.58, a quick ratio of 3.99 and a current ratio of 4.05. The firm has a market capitalization of $6.23 billion, a PE ratio of -143.58 and a beta of 1.12. Travere Therapeutics, Inc. has a fifty-two week low of $17.27 and a fifty-two week high of $67.85. The stock’s 50-day simple moving average is $59.13 and its 200-day simple moving average is $44.70.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The firm had revenue of $169.58 million for the quarter, compared to analysts’ expectations of $157.27 million. During the same quarter in the previous year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was up 48.2% compared to the same quarter last year. On average, sell-side analysts forecast that Travere Therapeutics, Inc. will post -0.56 EPS for the current fiscal year.

Travere Therapeutics Company 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.