Traders Buy High Volume of Call Options on Travere Therapeutics (NASDAQ:TVTX)

Travere Therapeutics, Inc. (NASDAQ:TVTX) was the target of unusually large options trading on Monday. Traders bought 21,305 call options on the company. This represents an increase of 552% compared to the typical daily volume of 3,269 call options.

Travere Therapeutics Stock Up 6.0%

NASDAQ TVTX opened at $30.70 on Tuesday. The company has a current ratio of 2.74, a quick ratio of 2.70 and a debt-to-equity ratio of 2.71. The stock’s 50 day moving average is $29.20 and its two-hundred day moving average is $31.18. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of -102.33 and a beta of 0.86. Travere Therapeutics has a 1-year low of $13.88 and a 1-year high of $42.13.

Insiders Place Their Bets

In other news, insider William E. Rote sold 12,446 shares of Travere Therapeutics stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $32.87, for a total value of $409,100.02. Following the transaction, the insider directly owned 109,087 shares in the company, valued at approximately $3,585,689.69. The trade was a 10.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Elizabeth E. Reed sold 10,000 shares of Travere Therapeutics stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $27.34, for a total value of $273,400.00. Following the sale, the insider directly owned 90,270 shares in the company, valued at approximately $2,467,981.80. This trade represents a 9.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 312,067 shares of company stock valued at $9,755,570 in the last ninety days. Company insiders own 4.06% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming acquired a new stake in Travere Therapeutics during the fourth quarter valued at approximately $37,000. Torren Management LLC acquired a new stake in Travere Therapeutics during the fourth quarter valued at approximately $38,000. Comerica Bank boosted its holdings in 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 purchasing an additional 492 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Travere Therapeutics by 69.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock valued at $45,000 after purchasing an additional 487 shares in the last quarter. Finally, First Horizon Corp acquired a new stake in Travere Therapeutics during the third quarter valued at approximately $36,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TVTX shares. JPMorgan Chase & Co. decreased their target price on Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, January 21st. Wall Street Zen downgraded Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Piper Sandler lifted their target price on Travere Therapeutics from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Finally, Guggenheim reissued a “buy” rating and set a $49.00 target price on shares of Travere Therapeutics in a research report on Wednesday, January 14th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.27.

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.