Engineers Gate Manager LP Acquires Shares of 17,762 Travere Therapeutics, Inc. (NASDAQ:TVTX)

Engineers Gate Manager LP acquired a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX – Get Rating) in the third quarter, HoldingsChannel.com reports. The firm acquired 17,762 shares of the company’s stock, valued at approximately $438,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Parkwood LLC lifted its holdings in shares of Travere Therapeutics by 3.6% during the third quarter. Parkwood LLC now owns 15,246 shares of the company’s stock valued at $376,000 after acquiring an additional 532 shares during the period. Legal & General Group Plc increased its stake in shares of Travere Therapeutics by 4.4% in the second quarter. Legal & General Group Plc now owns 22,601 shares of the company’s stock valued at $548,000 after buying an additional 957 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Travere Therapeutics by 13.4% in the first quarter. Envestnet Asset Management Inc. now owns 10,362 shares of the company’s stock valued at $267,000 after buying an additional 1,224 shares in the last quarter. US Bancorp DE increased its stake in shares of Travere Therapeutics by 1,372.3% in the first quarter. US Bancorp DE now owns 1,487 shares of the company’s stock valued at $38,000 after buying an additional 1,386 shares in the last quarter. Finally, AlphaCrest Capital Management LLC increased its stake in shares of Travere Therapeutics by 13.4% in the third quarter. AlphaCrest Capital Management LLC now owns 12,107 shares of the company’s stock valued at $298,000 after buying an additional 1,435 shares in the last quarter.

Insiders Place Their Bets

In other Travere Therapeutics news, insider Jula Inrig sold 2,051 shares of the firm’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $20.75, for a total transaction of $42,558.25. Following the transaction, the insider now owns 17,949 shares in the company, valued at $372,441.75. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Travere Therapeutics news, SVP Elizabeth E. Reed sold 2,590 shares of the firm’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $22.25, for a total transaction of $57,627.50. Following the transaction, the senior vice president now owns 57,436 shares in the company, valued at $1,277,951. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jula Inrig sold 2,051 shares of the firm’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $20.75, for a total value of $42,558.25. Following the transaction, the insider now owns 17,949 shares in the company, valued at approximately $372,441.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,311 shares of company stock worth $764,101. Insiders own 4.71% of the company’s stock.

Travere Therapeutics Price Performance

Shares of TVTX stock opened at $20.73 on Monday. The company has a current ratio of 3.42, a quick ratio of 3.37 and a debt-to-equity ratio of 8.76. Travere Therapeutics, Inc. has a 12 month low of $17.82 and a 12 month high of $30.35. The stock has a 50-day moving average price of $21.14 and a 200 day moving average price of $22.13.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wedbush upgraded Travere Therapeutics from a “neutral” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Tuesday, February 21st. Canaccord Genuity Group lowered their target price on Travere Therapeutics from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, February 28th. Stifel Nicolaus assumed coverage on Travere Therapeutics in a research note on Tuesday, December 13th. They issued a “hold” rating and a $22.00 target price for the company. Evercore ISI raised their target price on Travere Therapeutics from $30.00 to $36.00 in a research note on Tuesday, February 21st. Finally, Wells Fargo & Company began coverage on Travere Therapeutics in a research report on Monday, December 5th. They issued an “overweight” rating and a $28.00 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.36.

About Travere Therapeutics

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Travere Therapeutics, Inc is a biopharmaceutical company. It engages in the identification, development, commercialization, and distribution of therapies to people living with rare diseases. The firm’s products include Chenodal, Cholbam, and Thiola. The company was founded by Martin Shkreli on February 7, 2008 and is headquartered in San Diego, CA.