Point72 Asset Management L.P. boosted its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 159.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,608,126 shares of the company’s stock after buying an additional 987,126 shares during the period. Point72 Asset Management L.P. owned approximately 2.66% of Travere Therapeutics worth $40,155,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Eaton Vance Management purchased a new stake in Travere Therapeutics during the 1st quarter valued at $1,052,000. RA Capital Management L.P. raised its holdings in Travere Therapeutics by 23.2% during the 1st quarter. RA Capital Management L.P. now owns 5,614,428 shares of the company’s stock valued at $140,192,000 after buying an additional 1,056,561 shares during the period. Orbimed Advisors LLC purchased a new stake in Travere Therapeutics during the 1st quarter valued at $13,187,000. Great Point Partners LLC purchased a new stake in Travere Therapeutics during the 1st quarter valued at $14,825,000. Finally, California State Teachers Retirement System raised its holdings in Travere Therapeutics by 12.7% during the 1st quarter. California State Teachers Retirement System now owns 83,458 shares of the company’s stock valued at $2,084,000 after buying an additional 9,419 shares during the period.
In related news, CEO Eric M. Dube sold 9,562 shares of the firm’s stock in a transaction dated Wednesday, June 2nd. The stock was sold at an average price of $14.62, for a total transaction of $139,796.44. 4.31% of the stock is owned by company insiders.
Shares of Travere Therapeutics stock opened at $13.75 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 6.56 and a current ratio of 6.65. Travere Therapeutics, Inc. has a 12 month low of $13.24 and a 12 month high of $33.09. The company’s fifty day moving average price is $15.42.
Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, May 6th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.40). Travere Therapeutics had a negative net margin of 113.21% and a negative return on equity of 75.08%. The firm had revenue of $47.41 million for the quarter, compared to analysts’ expectations of $49.99 million. Sell-side analysts predict that Travere Therapeutics, Inc. will post -3.17 earnings per share for the current year.
Travere Therapeutics Profile
Travere Therapeutics, Inc, a biopharmaceutical company, focuses on the identification, development, and commercialization of therapies for the treatment of rare diseases. Its marketed products include Chenodal, a synthetic oral form of chenodeoxycholic acid for the treatment of radiolucent stones in well-opacifying gallbladders; Cholbam, a cholic acid capsule to treat pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects, as well as for adjunctive treatment of patients with peroxisomal disorders; and Thiola and Thiola EC, a tiopronin tablet for the treatment of homozygous cystinuria.
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