Insider Selling: Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Sells 10,000 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Roy D. Baynes sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $22.00, for a total value of $220,000.00. Following the completion of the transaction, the director now directly owns 31,000 shares of the company’s stock, 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.

Travere Therapeutics Price Performance

NASDAQ:TVTX opened at $23.20 on Thursday. The stock has a 50 day moving average of $19.06 and a two-hundred day moving average of $15.95. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $25.29. The firm has a market cap of $1.81 billion, a P/E ratio of -5.10 and a beta of 0.72. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Cantor Fitzgerald started coverage on shares of Travere Therapeutics in a research note on Friday, January 10th. They issued an “overweight” rating for the company. Canaccord Genuity Group upped their price objective on shares of Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday. HC Wainwright increased their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Piper Sandler lifted their price target on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, Barclays increased their price target on 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 thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.77.

Institutional Trading of Travere Therapeutics

Large investors have recently made changes to their positions in the company. Jennison Associates LLC purchased a new position in Travere Therapeutics in the 4th quarter valued at $14,222,000. abrdn plc acquired a new stake in shares of Travere Therapeutics in the fourth quarter valued at about $6,829,000. Prudential Financial Inc. lifted its stake in shares of Travere Therapeutics by 60.5% in the fourth quarter. Prudential Financial Inc. now owns 969,141 shares of the company’s stock worth $16,882,000 after buying an additional 365,200 shares in the last quarter. Emerald Advisers LLC boosted its position in Travere Therapeutics by 19.8% during the third quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock worth $27,430,000 after acquiring an additional 323,513 shares during the last quarter. Finally, Impax Asset Management Group plc purchased a new stake in Travere Therapeutics during the 4th quarter valued at about $5,226,000.

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.