Travere Therapeutics (NASDAQ:TVTX) Insider Sells $300,000.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Elizabeth Reed sold 10,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the insider directly owned 105,211 shares of the company’s stock, valued at approximately $3,156,330. The trade was a 8.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Price Performance

Shares of TVTX stock opened at $30.44 on Friday. Travere Therapeutics, Inc. has a 1 year low of $12.91 and a 1 year high of $42.13. The stock has a market cap of $2.81 billion, a PE ratio of -101.46 and a beta of 0.86. The business’s fifty day moving average is $29.20 and its 200-day moving average is $30.86. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.70 and a current ratio of 2.74.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Arizona State Retirement System raised its holdings in Travere Therapeutics by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 24,964 shares of the company’s stock worth $597,000 after buying an additional 375 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Travere Therapeutics by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock worth $45,000 after acquiring an additional 487 shares in the last quarter. Comerica Bank raised its holdings in shares of Travere Therapeutics by 77.5% during the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after acquiring an additional 492 shares during the period. Prudential Financial Inc. lifted its position in shares of Travere Therapeutics by 0.3% in the 2nd quarter. Prudential Financial Inc. now owns 244,256 shares of the company’s stock valued at $3,615,000 after acquiring an additional 615 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Travere Therapeutics by 4.1% in the 4th quarter. ProShare Advisors LLC now owns 19,007 shares of the company’s stock valued at $726,000 after acquiring an additional 756 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have weighed in on TVTX. Piper Sandler upped their price target on shares of Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Wall Street Zen cut shares of Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. Guggenheim reissued a “buy” rating and set a $49.00 target price on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, March 25th. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Travere Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.