Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Sells $56,444.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX – Get Rating) Director Steve Aselage sold 2,575 shares of Travere Therapeutics stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $21.92, for a total value of $56,444.00. Following the completion of the sale, the director now owns 146,919 shares of the company’s stock, valued at $3,220,464.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Shares of TVTX stock opened at $21.44 on Friday. The stock’s 50-day simple moving average is $26.16 and its 200-day simple moving average is $27.57. The company has a debt-to-equity ratio of 1.80, a current ratio of 5.28 and a quick ratio of 5.23. Travere Therapeutics, Inc. has a fifty-two week low of $12.75 and a fifty-two week high of $31.65.

Travere Therapeutics (NASDAQ:TVTX – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported ($1.20) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.35). The company had revenue of $48.49 million for the quarter, compared to analyst estimates of $51.92 million. Travere Therapeutics had a negative return on equity of 70.33% and a negative net margin of 88.46%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned ($0.96) earnings per share. As a group, equities analysts predict that Travere Therapeutics, Inc. will post -3.58 earnings per share for the current fiscal year.

A number of research analysts have recently weighed in on the company. Zacks Investment Research raised Travere Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, April 28th. HC Wainwright initiated coverage on Travere Therapeutics in a research note on Monday, February 28th. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, Piper Sandler cut their target price on Travere Therapeutics from $42.00 to $40.00 in a research report on Friday, May 6th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Travere Therapeutics currently has an average rating of “Buy” and an average price target of $33.38.

Hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund boosted its position in Travere Therapeutics by 10.0% during the fourth quarter. New York State Common Retirement Fund now owns 43,284 shares of the company’s stock worth $1,344,000 after purchasing an additional 3,945 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Travere Therapeutics by 5.3% in the fourth quarter. ProShare Advisors LLC now owns 21,523 shares of the company’s stock valued at $669,000 after acquiring an additional 1,085 shares in the last quarter. Laurion Capital Management LP lifted its position in shares of Travere Therapeutics by 33.8% in the third quarter. Laurion Capital Management LP now owns 758,951 shares of the company’s stock valued at $18,404,000 after acquiring an additional 191,768 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of Travere Therapeutics by 81.7% in the third quarter. Public Sector Pension Investment Board now owns 238,000 shares of the company’s stock valued at $5,772,000 after acquiring an additional 107,000 shares in the last quarter. Finally, International Biotechnology Trust PLC lifted its position in shares of Travere Therapeutics by 1,800.0% in the third quarter. International Biotechnology Trust PLC now owns 380,000 shares of the company’s stock valued at $9,215,000 after acquiring an additional 360,000 shares in the last quarter.

About Travere Therapeutics (Get Rating)

Travere Therapeutics, Inc, a biopharmaceutical company, focuses on the identification, development, commercialization, and delivering of therapies for the treatment of rare diseases. Its marketed products include Chenodal, a synthetic oral form of chenodeoxycholic acid for the treatment of radiolucent stones in gallbladders; Cholbam, a cholic acid capsule to treat pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects, as well as for adjunctive treatment of patients with peroxisomal disorders; and Thiola and Thiola EC, a tiopronin tablet for the treatment of homozygous cystinuria.

See Also