Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Roy D. Baynes Sells 10,000 Shares

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Roy D. Baynes sold 10,000 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $22.00, for a total value of $220,000.00. Following the sale, the director now owns 31,000 shares of the company’s stock, valued at $682,000. This trade represents a 24.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Travere Therapeutics Stock Up 12.6 %

Shares of TVTX opened at $23.75 on Wednesday. Travere Therapeutics, Inc. has a 52 week low of $5.12 and a 52 week high of $25.29. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of -5.22 and a beta of 0.72. The stock’s 50-day moving average price is $18.98 and its 200-day moving average price is $15.90.

Analyst Ratings Changes

Several brokerages recently issued reports on TVTX. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $9.00 to $27.00 in a research report on Monday, October 21st. Cantor Fitzgerald began coverage on Travere Therapeutics in a research report on Friday, January 10th. They set an “overweight” rating on the stock. Barclays upped their target price on Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Piper Sandler increased their price objective on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, HC Wainwright increased their price objective on Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Travere Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds have recently bought and sold shares of the business. R Squared Ltd purchased a new position in Travere Therapeutics during the fourth quarter worth approximately $53,000. CWM LLC boosted its position in Travere Therapeutics by 158.5% during the third 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. Quarry LP purchased a new position in Travere Therapeutics during the third quarter worth approximately $105,000. Victory Capital Management Inc. purchased a new position in Travere Therapeutics during the fourth quarter worth approximately $182,000. Finally, Baader Bank Aktiengesellschaft purchased a new position in Travere Therapeutics during the fourth quarter worth approximately $192,000.

Travere Therapeutics Company Profile

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.