Travere Therapeutics (NASDAQ:TVTX) Shares Down 5.4% – Should You Sell?

Travere Therapeutics, Inc. (NASDAQ:TVTX) traded down 5.4% during trading on Friday . The company traded as low as $27.97 and last traded at $27.7250. 190,670 shares traded hands during trading, a decline of 92% from the average session volume of 2,425,504 shares. The stock had previously closed at $29.30.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TVTX shares. TD Cowen reaffirmed a “buy” rating on shares of Travere Therapeutics in a research note on Friday, October 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Piper Sandler raised their price objective on Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. HC Wainwright reiterated a “buy” rating and issued a $47.00 price objective on shares of Travere Therapeutics in a report on Friday, November 28th. Finally, Citigroup boosted their target price on Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Eleven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $38.62.

Travere Therapeutics Stock Performance

The business has a fifty day simple moving average of $32.77 and a 200-day simple moving average of $28.74. The company has a quick ratio of 2.71, a current ratio of 2.75 and a debt-to-equity ratio of 4.23. The firm has a market cap of $2.65 billion, a P/E ratio of -27.81, a P/E/G ratio of 0.77 and a beta of 0.83.

Insider Buying and Selling at Travere Therapeutics

In related news, insider Jula Inrig sold 1,779 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $32.21, for a total value of $57,301.59. Following the sale, the insider owned 105,706 shares in the company, valued at $3,404,790.26. This represents a 1.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Peter Heerma sold 7,310 shares of Travere Therapeutics stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $32.12, for a total value of $234,797.20. Following the transaction, the insider owned 131,823 shares of the company’s stock, valued at $4,234,154.76. The trade was a 5.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 331,925 shares of company stock valued at $11,318,755 over the last three months. 4.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors have recently modified their holdings of TVTX. State of Wyoming bought a new position in Travere Therapeutics in the 4th quarter worth about $37,000. Torren Management LLC purchased a new stake in shares of Travere Therapeutics during the fourth quarter valued at approximately $38,000. Comerica Bank grew its holdings in shares of Travere Therapeutics by 77.5% during the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after buying an additional 492 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Travere Therapeutics by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock worth $45,000 after acquiring an additional 487 shares during the last quarter. Finally, First Horizon Corp purchased a new position in Travere Therapeutics in the 3rd quarter worth approximately $36,000.

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.