Travere Therapeutics (NASDAQ:TVTX) CFO Christopher Cline Sells 20,000 Shares

Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Christopher Cline sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $35.01, for a total transaction of $700,200.00. Following the completion of the transaction, the chief financial officer directly owned 92,083 shares of the company’s stock, valued at $3,223,825.83. This represents a 17.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Travere Therapeutics Stock Up 2.5%

Shares of TVTX traded up $0.86 during mid-day trading on Wednesday, reaching $34.85. The company’s stock had a trading volume of 1,446,955 shares, compared to its average volume of 1,808,068. The business has a fifty day moving average of $30.43 and a 200 day moving average of $21.87. The company has a market cap of $3.12 billion, a price-to-earnings ratio of -32.88 and a beta of 0.89. Travere Therapeutics, Inc. has a 1 year low of $12.91 and a 1 year high of $37.50. The company has a quick ratio of 2.71, a current ratio of 2.75 and a debt-to-equity ratio of 4.23.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.59. The business had revenue of $164.86 million for the quarter, compared to the consensus estimate of $106.09 million. Travere Therapeutics had a negative return on equity of 178.68% and a negative net margin of 20.32%.Travere Therapeutics’s revenue for the quarter was up 162.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.70) earnings per share. As a group, analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company upped their target price on Travere Therapeutics from $27.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Scotiabank reaffirmed an “outperform” rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. Wedbush increased their target price on shares of Travere Therapeutics from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Cowen restated a “buy” rating on shares of Travere Therapeutics in a report on Friday, October 31st. Finally, Jefferies Financial Group set a $35.00 price target on shares of Travere Therapeutics in a research note on Wednesday, September 10th. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.71.

Institutional Trading of Travere Therapeutics

Several large investors have recently made changes to their positions in TVTX. Adage Capital Partners GP L.L.C. raised its stake in shares of Travere Therapeutics by 479.9% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,184,898 shares of the company’s stock valued at $39,153,000 after acquiring an additional 1,808,098 shares in the last quarter. Stephens Investment Management Group LLC acquired a new position in Travere Therapeutics during the third quarter valued at approximately $38,232,000. Armistice Capital LLC raised its position in shares of Travere Therapeutics by 20.6% in the first quarter. Armistice Capital LLC now owns 8,872,000 shares of the company’s stock valued at $158,986,000 after purchasing an additional 1,514,000 shares during the period. Nuveen LLC acquired a new stake in shares of Travere Therapeutics in the first quarter worth $21,569,000. Finally, Wellington Management Group LLP boosted its holdings in shares of 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 worth $28,715,000 after buying an additional 1,166,460 shares during the period.

About Travere Therapeutics

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.