Insider Selling: Travere Therapeutics (NASDAQ:TVTX) Insider Sells 10,000 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Elizabeth Reed sold 10,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the insider directly owned 105,211 shares of the company’s stock, valued at approximately $3,156,330. This trade represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Stock Performance

NASDAQ:TVTX traded down $0.98 during trading hours on Thursday, reaching $30.44. The stock had a trading volume of 1,149,754 shares, compared to its average volume of 1,940,488. The stock has a market cap of $2.81 billion, a P/E ratio of -101.46 and a beta of 0.86. The stock has a 50 day simple moving average of $29.16 and a 200 day simple moving average of $30.75. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.70 and a current ratio of 2.74. Travere Therapeutics, Inc. has a 12-month low of $12.91 and a 12-month high of $42.13.

Institutional Trading of Travere Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Stephens Investment Management Group LLC purchased a new stake in Travere Therapeutics during the 3rd quarter worth about $38,232,000. State Street Corp grew its holdings in Travere Therapeutics by 47.8% during the 4th quarter. State Street Corp now owns 4,756,666 shares of the company’s stock valued at $181,752,000 after buying an additional 1,538,827 shares in the last quarter. Wellington Management Group LLP grew its holdings in Travere Therapeutics by 3,331.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock valued at $28,715,000 after buying an additional 1,166,460 shares in the last quarter. Frazier Life Sciences Management L.P. bought a new stake in shares of Travere Therapeutics during the second quarter valued at about $14,831,000. Finally, Fiera Capital Corp purchased a new stake in shares of Travere Therapeutics in the fourth quarter worth about $33,398,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. JPMorgan Chase & Co. cut their target price on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Guggenheim reiterated a “buy” rating and issued a $49.00 target price on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Piper Sandler boosted their price target on shares of Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Finally, Wall Street Zen cut shares of Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.00.

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.