As of Tuesday, Travere Therapeutics Inc.’s (NASDAQ:TVTX) stock closed at $16.72, down from $17.19 the previous day. While Travere Therapeutics Inc. has underperformed by -2.73%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, TVTX fell by -28.97%, with highs and lows ranging from $29.14 to $14.51, whereas the simple moving average fell by -14.73% in the last 200 days.
On July 21, 2023, JP Morgan started tracking Travere Therapeutics Inc. (NASDAQ: TVTX) recommending Overweight.
Analysis of Travere Therapeutics Inc. (TVTX)
Further, the quarter-over-quarter increase in sales is 17.50%, showing a positive trend in the upcoming months.
One of the most important indicators of Travere Therapeutics Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -236.10% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 4.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and TVTX is recording 1.30M average volume. On a monthly basis, the volatility of the stock is set at 3.86%, whereas on a weekly basis, it is put at 4.04%, with a gain of 5.36% over the past seven days. Furthermore, long-term investors anticipate a median target price of $28.00, showing growth from the present price of $16.72, which can serve as yet another indication of whether TVTX is worth investing in or should be passed over.
How Do You Analyze Travere Therapeutics Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.20%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 113.27% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in TVTX shares?
The recent increase in stakes in TVTX appears to be a result of several institutional investors and hedge funds increasing their positions. Armistice Capital LLC’s position in TVTX has increased by 11.48% in the first quarter. The company now owns 7,148,000 shares of the stock, with a value of $109.79 million, following the purchase of 736,000 additional shares during the last quarter. Janus Henderson Investors US LLC made another increased to its shares in TVTX during the first quarter, upping its stake by 34.28%. During the last quarter, the company picked up 1,741,615 additional shares for a total stake of worth $104.8 million, bringing number of shares owned by the company to 6,822,700.
During the first quarter, Deep Track Capital LP added a 1,565,268 position in TVTX. BlackRock Fund Advisors purchased an additional 0.49 million shares in the last quarter, increasing its holdings by 11.32%, now holding 4.83 million shares worth $74.18 million. At the end of the first quarter, SSgA Funds Management, Inc. increased its TVTX holdings by 3.41% and now holds 4.37 million TVTX shares valued at $67.09 million with the added 0.14 million shares during the period. TVTX shares are owned by institutional investors to the tune of 113.27% at present.