Travere Therapeutics (NASDAQ:TVTX) Insider Elizabeth Reed Sells 2,994 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Elizabeth Reed sold 2,994 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $32.18, for a total transaction of $96,346.92. Following the completion of the transaction, the insider owned 105,211 shares of the company’s stock, valued at approximately $3,385,689.98. This trade represents a 2.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Travere Therapeutics Stock Up 2.1%

NASDAQ:TVTX traded up $0.62 during midday trading on Friday, reaching $30.09. The company had a trading volume of 70,021 shares, compared to its average volume of 2,769,370. Travere Therapeutics, Inc. has a 12-month low of $12.91 and a 12-month high of $42.13. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -28.81, a PEG ratio of 0.88 and a beta of 0.83. The company has a current ratio of 2.75, a quick ratio of 2.71 and a debt-to-equity ratio of 4.23. The stock’s fifty day simple moving average is $33.88 and its 200-day simple moving average is $27.80.

Hedge Funds Weigh In On Travere Therapeutics

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Travere Therapeutics by 10.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,613,368 shares of the company’s stock worth $158,059,000 after purchasing an additional 619,085 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in Travere Therapeutics by 27.4% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company’s stock valued at $41,203,000 after acquiring an additional 599,102 shares during the period. Emerald Advisers LLC raised its stake in Travere Therapeutics by 2.6% during the 3rd quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company’s stock valued at $51,308,000 after acquiring an additional 55,407 shares during the last quarter. Geode Capital Management LLC lifted its position in Travere Therapeutics by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,003,701 shares of the company’s stock worth $29,658,000 after acquiring an additional 27,040 shares during the period. Finally, Stephens Investment Management Group LLC increased its holdings in shares of Travere Therapeutics by 7.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,721,623 shares of the company’s stock valued at $65,783,000 after purchasing an additional 121,955 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TVTX. TD Cowen reiterated a “buy” rating on shares of Travere Therapeutics in a research note on Friday, October 31st. Citigroup raised their price target on Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Wall Street Zen raised Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 13th. Zacks Research lowered Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Travere Therapeutics in a report on Friday. Twelve investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.86.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.