Elizabeth Reed Sells 7,175 Shares of Travere Therapeutics (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Elizabeth Reed sold 7,175 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $32.12, for a total transaction of $230,461.00. Following the completion of the transaction, the insider owned 108,205 shares in the company, valued at approximately $3,475,544.60. The trade was a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Travere Therapeutics Stock Performance

Shares of TVTX stock traded down $0.26 during trading hours on Tuesday, hitting $32.84. 1,748,186 shares of the company were exchanged, compared to its average volume of 2,976,006. 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 has a market capitalization of $2.94 billion, a price-to-earnings ratio of -30.98, a P/E/G ratio of 1.01 and a beta of 0.83. The firm has a fifty day simple moving average of $34.11 and a 200 day simple moving average of $27.76. Travere Therapeutics, Inc. has a 52-week low of $12.91 and a 52-week high of $42.13.

Analysts Set New Price Targets

TVTX has been the topic of a number of recent research reports. Guggenheim reaffirmed a “buy” rating and set a $49.00 price target on shares of Travere Therapeutics in a research report on Wednesday, January 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. HC Wainwright reaffirmed a “buy” rating and set a $47.00 price objective on shares of Travere Therapeutics in a report on Friday, November 28th. Wall Street Zen upgraded shares of Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 13th. Finally, Piper Sandler lifted their target price on shares of Travere Therapeutics from $26.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Twelve equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.86.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TVTX. RFG Advisory LLC purchased a new position in Travere Therapeutics during the 4th quarter valued at about $1,633,000. Garner Asset Management Corp bought a new position in shares of Travere Therapeutics in the fourth quarter valued at approximately $69,000. Oppenheimer Asset Management Inc. bought a new position in shares of Travere Therapeutics in the fourth quarter valued at approximately $213,000. State of New Jersey Common Pension Fund D purchased a new position in Travere Therapeutics during the fourth quarter valued at approximately $1,104,000. Finally, Torren Management LLC purchased a new position in Travere Therapeutics during the fourth quarter valued at approximately $38,000.

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.