Insider Selling: Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Sells 50,691 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric M. Dube sold 50,691 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $20.21, for a total transaction of $1,024,465.11. Following the transaction, the chief executive officer now owns 430,548 shares of the company’s stock, valued at approximately $8,701,375.08. This trade represents a 10.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Travere Therapeutics Stock Performance

Travere Therapeutics stock opened at $21.21 on Thursday. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -4.66 and a beta of 0.72. 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 firm has a 50 day simple moving average of $18.74 and a 200-day simple moving average of $15.51. Travere Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $21.86.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TVTX. Aigen Investment Management LP acquired a new position in shares of Travere Therapeutics in the 3rd quarter valued at $170,000. Oppenheimer & Co. Inc. acquired a new position in Travere Therapeutics in the third quarter valued at about $673,000. FMR LLC boosted its stake in Travere Therapeutics by 27.5% during the third quarter. FMR LLC now owns 147,416 shares of the company’s stock worth $2,062,000 after buying an additional 31,772 shares during the period. Two Sigma Advisers LP increased its position in shares of Travere Therapeutics by 30.2% during the third quarter. Two Sigma Advisers LP now owns 720,400 shares of the company’s stock valued at $10,078,000 after acquiring an additional 167,100 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Travere Therapeutics by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock valued at $24,222,000 after acquiring an additional 64,744 shares during the period.

Wall Street Analyst Weigh In

TVTX has been the subject of a number of research analyst reports. Scotiabank increased their target price on Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. Wells Fargo & Company upgraded Travere Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $9.00 to $27.00 in a report on Monday, October 21st. Wedbush lifted their target price on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald began coverage on shares of Travere Therapeutics in a research report on Friday, January 10th. They issued an “overweight” rating for the company. Finally, Barclays boosted their price target 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. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

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.