Travere Therapeutics (NASDAQ:TVTX) CEO Eric Dube Sells 100,087 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric Dube sold 100,087 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $32.28, for a total value of $3,230,808.36. Following the transaction, the chief executive officer directly owned 432,886 shares in the company, valued at approximately $13,973,560.08. This represents a 18.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Travere Therapeutics Price Performance

TVTX traded down $0.26 during midday trading on Tuesday, hitting $32.84. The stock had a trading volume of 1,748,186 shares, compared to its average volume of 2,976,006. Travere Therapeutics, Inc. has a 1 year low of $12.91 and a 1 year high of $42.13. 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 business has a fifty day moving average of $34.11 and a 200 day moving average of $27.76. The company has a market cap of $2.94 billion, a P/E ratio of -30.98, a price-to-earnings-growth ratio of 1.01 and a beta of 0.83.

Institutional Trading of Travere Therapeutics

A number of institutional investors have recently modified their holdings of the company. Emerald Advisers LLC raised its stake in Travere Therapeutics by 2.6% in the third 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. Capital Fund Management S.A. purchased a new position in shares of Travere Therapeutics during the 2nd quarter worth approximately $1,501,000. Squarepoint Ops LLC grew its holdings in shares of Travere Therapeutics by 98.7% during the 2nd quarter. Squarepoint Ops LLC now owns 479,394 shares of the company’s stock worth $7,095,000 after acquiring an additional 238,070 shares during the period. Voya Investment Management LLC raised its position in shares of Travere Therapeutics by 16.2% in the 3rd quarter. Voya Investment Management LLC now owns 194,854 shares of the company’s stock worth $4,657,000 after acquiring an additional 27,133 shares in the last quarter. Finally, Lisanti Capital Growth LLC purchased a new position in shares of Travere Therapeutics in the 3rd quarter valued at approximately $3,095,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TVTX shares. TD Cowen reaffirmed a “buy” rating on shares of Travere Therapeutics in a report on Friday, October 31st. Guggenheim restated a “buy” rating and set a $49.00 price target on shares of Travere Therapeutics in a research report on Wednesday, January 14th. Citigroup lifted their price objective on Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Piper Sandler increased their target price on Travere Therapeutics from $26.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Finally, Wall Street Zen upgraded Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 13th. Twelve investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.86.

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.