Insider Selling: Travere Therapeutics, Inc. (NASDAQ:TVTX) SVP Sells 8,951 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) SVP William E. Rote sold 8,951 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $19.78, for a total value of $177,050.78. Following the transaction, the senior vice president now directly owns 95,719 shares of the company’s stock, valued at $1,893,321.82. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Travere Therapeutics Trading Up 4.4 %

TVTX traded up $0.88 during midday trading on Tuesday, hitting $21.10. 987,233 shares of the company were exchanged, compared to its average volume of 1,250,242. The firm’s 50 day moving average price is $18.69 and its 200-day moving average price is $15.47. Travere Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $21.56. The firm has a market capitalization of $1.65 billion, a P/E ratio of -4.64 and a beta of 0.72. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Bank of America lifted their target price on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Wedbush upped their price objective on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Piper Sandler raised their target price on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $9.00 to $27.00 in a report on Monday, October 21st. Finally, Guggenheim raised their price objective on Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning increased its position in Travere Therapeutics by 4.3% during the 3rd quarter. Creative Planning now owns 23,938 shares of the company’s stock valued at $335,000 after purchasing an additional 995 shares during the period. Rhumbline Advisers increased its position in shares of Travere Therapeutics by 2.2% during the fourth quarter. Rhumbline Advisers now owns 121,248 shares of the company’s stock worth $2,112,000 after buying an additional 2,640 shares during the period. R Squared Ltd acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth $53,000. CWM LLC raised its stake in Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after buying an additional 3,065 shares during the last quarter. Finally, Diversified Trust Co lifted its holdings in Travere Therapeutics by 27.5% in the fourth quarter. Diversified Trust Co now owns 14,701 shares of the company’s stock valued at $256,000 after buying an additional 3,169 shares during the period.

Travere Therapeutics Company Profile

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.