Insider Selling: Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Sells 5,192 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Christopher R. Cline sold 5,192 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $20.12, for a total transaction of $104,463.04. Following the sale, the chief financial officer now owns 90,038 shares in the company, valued at approximately $1,811,564.56. This trade represents a 5.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Travere Therapeutics Price Performance

NASDAQ:TVTX traded up $0.88 during midday trading on Tuesday, hitting $21.10. 987,233 shares of the stock were exchanged, compared to its average volume of 1,250,242. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -4.64 and a beta of 0.72. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a one year low of $5.12 and a one year high of $21.56. The business has a 50-day moving average price of $18.69 and a two-hundred day moving average price of $15.47.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Leerink Partners reiterated an “outperform” rating and set a $20.00 price target on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Guggenheim raised their target price on Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Bank of America upped their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company raised shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $9.00 to $27.00 in a report on Monday, October 21st. Finally, Wedbush boosted their target price on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Hedge Funds Weigh In On Travere Therapeutics

Several hedge funds have recently modified their holdings of TVTX. Sei Investments Co. bought a new position in Travere Therapeutics during the second quarter valued at about $117,000. Bank of Montreal Can acquired a new stake in Travere Therapeutics in the 2nd quarter valued at about $625,000. AQR Capital Management LLC boosted its position in shares of Travere Therapeutics by 55.7% during the 2nd quarter. AQR Capital Management LLC now owns 74,069 shares of the company’s stock valued at $609,000 after purchasing an additional 26,485 shares in the last quarter. Diversified Trust Co acquired a new position in shares of Travere Therapeutics in the 3rd quarter worth approximately $161,000. Finally, CWM LLC raised its holdings in shares of Travere Therapeutics by 158.5% in the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after purchasing an additional 3,065 shares in the last quarter.

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.