Emerald Mutual Fund Advisers Trust Cuts Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Emerald Mutual Fund Advisers Trust cut its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 29.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 941,265 shares of the company’s stock after selling 387,116 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 1.24% of Travere Therapeutics worth $7,737,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its holdings in Travere Therapeutics by 912.5% in the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock valued at $18,200,000 after acquiring an additional 1,995,419 shares during the period. Parkman Healthcare Partners LLC boosted its holdings in Travere Therapeutics by 76.4% during the fourth quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock worth $9,159,000 after buying an additional 441,318 shares in the last quarter. Russell Investments Group Ltd. grew its position in Travere Therapeutics by 79.2% during the first quarter. Russell Investments Group Ltd. now owns 184,623 shares of the company’s stock worth $1,423,000 after buying an additional 81,611 shares during the period. GSA Capital Partners LLP purchased a new position in Travere Therapeutics in the first quarter valued at about $452,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Travere Therapeutics during the 4th quarter valued at approximately $5,711,000.

Wall Street Analyst Weigh In

TVTX has been the topic of a number of research reports. Citigroup upped their price target on Travere Therapeutics from $14.00 to $23.00 and gave the stock a “buy” rating in a report on Friday. Bank of America upped their target price on Travere Therapeutics from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday. HC Wainwright lifted their price target on Travere Therapeutics from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday. Wedbush increased their price objective on shares of Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Travere Therapeutics from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Travere Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $16.33.

Travere Therapeutics Stock Up 10.6 %

Shares of NASDAQ TVTX opened at $10.98 on Friday. The company has a 50-day simple moving average of $9.20 and a 200-day simple moving average of $7.82. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $14.82.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The firm had revenue of $54.12 million during the quarter, compared to analysts’ expectations of $49.50 million. Sell-side analysts anticipate that Travere Therapeutics, Inc. will post -3.96 earnings per share for the current year.

About Travere Therapeutics

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.