Insider Selling: Travere Therapeutics (NASDAQ:TVTX) CFO Sells $56,171.55 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Christopher Cline sold 1,745 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $32.19, for a total value of $56,171.55. Following the sale, the chief financial officer directly owned 111,226 shares of the company’s stock, valued at approximately $3,580,364.94. This represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Travere Therapeutics Stock Up 0.8%

Shares of Travere Therapeutics stock opened at $29.71 on Friday. Travere Therapeutics, Inc. has a one year low of $12.91 and a one year high of $42.13. The company has a market cap of $2.66 billion, a P/E ratio of -28.03, a PEG ratio of 0.82 and a beta of 0.83. The company has a debt-to-equity ratio of 4.23, a quick ratio of 2.71 and a current ratio of 2.75. The firm has a fifty day moving average of $33.76 and a two-hundred day moving average of $27.98.

Wall Street Analysts Forecast Growth

TVTX has been the subject of a number of recent analyst reports. Citigroup raised their price objective on shares of Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Piper Sandler lifted their price target on Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday. Guggenheim reaffirmed a “buy” rating and set a $49.00 price objective on shares of Travere Therapeutics in a report on Wednesday, January 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, January 21st. Finally, HC Wainwright restated a “buy” rating and set a $47.00 target price on shares of Travere Therapeutics in a research report on Friday, November 28th. Twelve 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 data from MarketBeat.com, Travere Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $39.07.

Institutional Trading of Travere Therapeutics

A number of institutional investors have recently bought and sold shares of TVTX. Vanguard Group Inc. grew its holdings in Travere Therapeutics by 10.3% in the third quarter. Vanguard Group Inc. now owns 6,613,368 shares of the company’s stock valued at $158,059,000 after purchasing an additional 619,085 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Travere Therapeutics by 27.4% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company’s stock worth $41,203,000 after buying an additional 599,102 shares during the last quarter. Emerald Advisers LLC boosted its position in shares of Travere Therapeutics by 2.6% in the 3rd quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company’s stock worth $51,308,000 after buying an additional 55,407 shares in the last quarter. Geode Capital Management LLC grew its stake in Travere Therapeutics by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,003,701 shares of the company’s stock valued at $29,658,000 after acquiring an additional 27,040 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its holdings in Travere Therapeutics by 7.6% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,721,623 shares of the company’s stock valued at $65,783,000 after acquiring an additional 121,955 shares in the last quarter.

About Travere Therapeutics

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.