5 Best Biotech Stocks To Buy Under $20

3. Travere Therapeutics Inc (NASDAQ:TVTX)

Price: $8.66

Nr of Hedge Funds Shareholders: 36

Travere Therapeutics Inc (NASDAQ:TVTX) is a biopharmaceutical company that aims to identify therapies for rare diseases. Its lead candidate is Filspari (sparsentan), a kidney drug to treat primary immunoglobulin A nephropathy. The company’s stock suffered a blow in September, on the back of disappointing results from its PROTECT study. The drug failed to reach statistical significance in kidney function outcomes. Nevertheless, the company said that the drug did hit statistical significance to be reviewed by EU regulators. In December, Travere Therapeutics Inc (NASDAQ:TVTX) announced plans to lay off 20% of its workforce and to further cut costs to ensure it has a sufficient cash position to sustain its operations until 2028. In 2023, Travere Therapeutics Inc (NASDAQ:TVTX) recorded sales of $127.50 million, up from $98 million a year earlier.

At the end of December, there were 36 funds in our database with holdings in Travere Therapeutics Inc (NASDAQ:TVTX), down by one over the quarter.