Travere Therapeutics (NASDAQ:TVTX) Trading Down 4.6% on Insider Selling

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s share price was down 4.6% on Monday after an insider sold shares in the company. The stock traded as low as $20.28 and last traded at $20.75. Approximately 322,220 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 1,317,635 shares. The stock had previously closed at $21.75.

Specifically, Director Roy D. Baynes sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $22.00, for a total value of $220,000.00. Following the transaction, the director now owns 31,000 shares in the company, valued at $682,000. The trade was a 24.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sandra Calvin sold 3,348 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $20.12, for a total value of $67,361.76. Following the sale, the chief accounting officer now directly owns 63,654 shares of the company’s stock, valued at $1,280,718.48. This trade represents a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CFO Christopher R. Cline sold 5,192 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $20.12, for a total value of $104,463.04. Following the completion of the sale, the chief financial officer now owns 90,038 shares of the company’s stock, valued at approximately $1,811,564.56. The trade was a 5.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

A number of research firms have issued reports on TVTX. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $9.00 to $27.00 in a research note on Monday, October 21st. HC Wainwright lifted their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Barclays increased their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Scotiabank raised their target price on Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a report on Wednesday. Finally, Piper Sandler upped their price target on Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Travere Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $27.77.

Travere Therapeutics Trading Down 2.3 %

The company has a 50-day simple moving average of $18.98 and a 200 day simple moving average of $15.90. The company has a market capitalization of $1.81 billion, a P/E ratio of -5.10 and a beta of 0.72. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Institutional Trading of Travere Therapeutics

A number of hedge funds have recently bought and sold shares of the stock. Emerald Advisers LLC grew its holdings in shares of Travere Therapeutics by 8.4% during the 4th quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company’s stock worth $37,030,000 after purchasing an additional 165,085 shares in the last quarter. Geode Capital Management LLC boosted its stake in Travere Therapeutics by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 1,842,301 shares of the company’s stock worth $32,100,000 after buying an additional 111,256 shares in the last quarter. Finepoint Capital LP increased its holdings in Travere Therapeutics by 0.3% in the 3rd quarter. Finepoint Capital LP now owns 1,782,267 shares of the company’s stock valued at $24,934,000 after buying an additional 5,539 shares during the period. Emerald Mutual Fund Advisers Trust raised its stake in shares of Travere Therapeutics by 26.0% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company’s stock valued at $16,588,000 after buying an additional 244,444 shares in the last quarter. Finally, Parkman Healthcare Partners LLC raised its stake in shares of Travere Therapeutics by 12.0% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,086,067 shares of the company’s stock valued at $15,194,000 after buying an additional 116,175 shares in the last quarter.

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.