Jupiter Topco LLC Makes New Investment in Travere Therapeutics, Inc. $TVTX

Jupiter Topco LLC purchased a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the 2nd quarter, Holdings Channel reports. The fund purchased 11,324,191 shares of the company’s stock, valued at approximately $643,299,000. Jupiter Topco LLC owned 0.12% of Travere Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TVTX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Travere Therapeutics by 13.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,777 shares of the company’s stock worth $1,029,000 after purchasing an additional 6,831 shares during the period. Norges Bank bought a new position in Travere Therapeutics during the second quarter worth $1,051,000. First Trust Advisors LP bought a new position in Travere Therapeutics during the second quarter worth $3,538,000. Cresset Asset Management LLC increased its holdings in shares of Travere Therapeutics by 26.5% in the second quarter. Cresset Asset Management LLC now owns 28,875 shares of the company’s stock valued at $427,000 after purchasing an additional 6,047 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its position in shares of Travere Therapeutics by 106.2% in the second quarter. Qube Research & Technologies Ltd now owns 604,128 shares of the company’s stock valued at $8,941,000 after purchasing an additional 311,137 shares during the period.

Travere Therapeutics Trading Up 2.7%

NASDAQ TVTX opened at $67.01 on Wednesday. The company has a market cap of $6.32 billion, a price-to-earnings ratio of -145.67 and a beta of 1.12. Travere Therapeutics, Inc. has a twelve month low of $17.05 and a twelve month high of $67.34. The company has a quick ratio of 3.99, a current ratio of 4.05 and a debt-to-equity ratio of 24.58. The business’s fifty day moving average is $58.62 and its 200 day moving average is $44.16.

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 the consensus estimate of ($0.13) by $0.03. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.The company had revenue of $169.58 million during the quarter, compared to the consensus estimate of $157.27 million. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The firm’s revenue was up 48.2% compared to the same quarter last year. As a group, sell-side analysts expect that Travere Therapeutics, Inc. will post -0.56 EPS for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, Director Roy D. Baynes sold 4,500 shares of Travere Therapeutics stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $50.00, for a total transaction of $225,000.00. Following the transaction, the director directly owned 41,500 shares of the company’s stock, valued at approximately $2,075,000. The trade was a 9.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Travere Therapeutics stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $50.07, for a total value of $500,700.00. Following the completion of the transaction, the director directly owned 56,250 shares in the company, valued at approximately $2,816,437.50. This represents a 15.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.44% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on TVTX shares. Canaccord Genuity Group upped their price target on shares of Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings downgraded Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 23rd. Evercore set a $78.00 target price on Travere Therapeutics in a research note on Monday, August 10th. TD Cowen boosted their price target on Travere Therapeutics from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Wells Fargo & Company upped their price target on shares of Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Ten 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.67.

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.