Insider Selling: Travere Therapeutics, Inc. (NASDAQ:TVTX) SVP Sells 5,200 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) SVP William E. Rote sold 5,200 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $23.53, for a total value of $122,356.00. Following the completion of the sale, the senior vice president now directly owns 98,519 shares of the company’s stock, valued at $2,318,152.07. This represents a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Travere Therapeutics Stock Performance

Travere Therapeutics stock opened at $23.72 on Friday. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The stock has a fifty day moving average price of $19.14 and a two-hundred day moving average price of $16.01. Travere Therapeutics, Inc. has a 52-week low of $5.12 and a 52-week high of $25.29. The firm has a market capitalization of $1.85 billion, a P/E ratio of -5.21 and a beta of 0.72.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC raised its stake in Travere Therapeutics by 859.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock worth $41,000 after acquiring an additional 2,115 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Travere Therapeutics in the fourth quarter valued at $53,000. CWM LLC raised its holdings in shares of Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after buying an additional 3,065 shares during the last quarter. Quarry LP bought a new position in shares of Travere Therapeutics in the third quarter valued at about $105,000. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of Travere Therapeutics by 9.2% in the fourth quarter. Ameritas Investment Partners Inc. now owns 7,905 shares of the company’s stock valued at $138,000 after buying an additional 667 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TVTX shares. Barclays increased their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Scotiabank increased their price objective on Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Wednesday. Canaccord Genuity Group raised their target price on Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler raised their target price on Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, HC Wainwright raised their target price on Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $27.77.

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.