Insider Selling: Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Sells $104,463.04 in Stock

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

Travere Therapeutics Stock Up 3.1 %

Shares of NASDAQ:TVTX opened at $21.86 on Friday. Travere Therapeutics, Inc. has a 12-month low of $5.12 and a 12-month high of $22.13. The stock has a 50 day moving average of $18.80 and a 200 day moving average of $15.56. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds have recently modified their holdings of TVTX. Arizona State Retirement System raised its position in shares of Travere Therapeutics by 13.5% during the 4th quarter. Arizona State Retirement System now owns 22,396 shares of the company’s stock valued at $390,000 after purchasing an additional 2,666 shares during the period. Aigen Investment Management LP increased its stake in Travere Therapeutics by 56.6% in the 4th quarter. Aigen Investment Management LP now owns 19,072 shares of the company’s stock worth $332,000 after buying an additional 6,892 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Travere Therapeutics during the fourth quarter valued at about $182,000. Charles Schwab Investment Management Inc. lifted its position in shares of Travere Therapeutics by 16.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 661,603 shares of the company’s stock valued at $11,525,000 after acquiring an additional 94,194 shares in the last quarter. Finally, US Bancorp DE boosted its stake in shares of Travere Therapeutics by 323.4% in the fourth quarter. US Bancorp DE now owns 31,795 shares of the company’s stock worth $554,000 after acquiring an additional 24,286 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TVTX. Scotiabank increased their price objective on shares of Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a research report on Friday, November 1st. Piper Sandler increased their price target on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Barclays lifted their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $9.00 to $27.00 in a report on Monday, October 21st. Finally, Cantor Fitzgerald began coverage on Travere Therapeutics in a research report on Friday, January 10th. They issued an “overweight” rating on the stock. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.