Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric M. Dube Sells 50,691 Shares

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric M. Dube sold 50,691 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $20.21, for a total transaction of $1,024,465.11. Following the completion of the sale, the chief executive officer now owns 430,548 shares of the company’s stock, valued at $8,701,375.08. The trade was a 10.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Travere Therapeutics Stock Up 3.1 %

Travere Therapeutics stock opened at $21.86 on Friday. Travere Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $22.13. The stock has a market cap of $1.71 billion, a PE ratio of -4.80 and a beta of 0.72. The firm’s 50-day simple moving average is $18.80 and its 200 day simple moving average is $15.56. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. HC Wainwright lifted their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $9.00 to $27.00 in a report on Monday, October 21st. Cantor Fitzgerald assumed coverage on shares of Travere Therapeutics in a report on Friday, January 10th. They set an “overweight” rating for the company. Barclays lifted their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Piper Sandler lifted their price objective on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Travere Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $24.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Emerald Advisers LLC raised its position in Travere Therapeutics by 19.8% in the third quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock worth $27,430,000 after acquiring an additional 323,513 shares during the period. Finepoint Capital LP raised its position in Travere Therapeutics by 0.3% in the third quarter. Finepoint Capital LP now owns 1,782,267 shares of the company’s stock worth $24,934,000 after acquiring an additional 5,539 shares during the period. Geode Capital Management LLC raised its position in Travere Therapeutics by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock worth $24,222,000 after acquiring an additional 64,744 shares during the period. Emerald Mutual Fund Advisers Trust raised its position in Travere Therapeutics by 26.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company’s stock worth $16,588,000 after acquiring an additional 244,444 shares during the period. Finally, Parkman Healthcare Partners LLC raised its position in Travere Therapeutics by 12.0% in the third quarter. Parkman Healthcare Partners LLC now owns 1,086,067 shares of the company’s stock worth $15,194,000 after acquiring an additional 116,175 shares during the period.

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.