Eric Dube Sells 100,087 Shares of Travere Therapeutics (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric Dube sold 100,087 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $32.28, for a total value of $3,230,808.36. Following the completion of the sale, the chief executive officer owned 432,886 shares in the company, valued at $13,973,560.08. This trade represents a 18.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Travere Therapeutics Stock Down 3.5%

Shares of NASDAQ:TVTX opened at $31.68 on Thursday. The company’s fifty day moving average is $34.02 and its 200-day moving average is $27.79. The company has a debt-to-equity ratio of 4.23, a quick ratio of 2.71 and a current ratio of 2.75. Travere Therapeutics, Inc. has a 52 week low of $12.91 and a 52 week high of $42.13. The company has a market capitalization of $2.83 billion, a PE ratio of -29.89, a P/E/G ratio of 1.00 and a beta of 0.83.

Key Headlines Impacting Travere Therapeutics

Here are the key news stories impacting Travere Therapeutics this week:

• Positive Sentiment: Bank of America Securities reaffirmed its Buy rating on Travere, which supports demand from institutional investors and may limit downside pressure. Bank of America Securities Sticks to Its Buy Rating for Travere Therapeutics (TVTX)
• Neutral Sentiment: Travere will present at the Guggenheim Emerging Outlook: Biotech Summit on Feb. 11 (live webcast/replay available). The event gives management a platform to update investors and could provide near-term catalysts if new data or guidance are disclosed. Travere Therapeutics to Present at the Guggenheim Emerging Outlook Biotech Summit
• Negative Sentiment: Heavy insider selling on Feb. 3 — including CEO Eric Dube (100,087 shares) and multiple senior officers (CFO, CAO and others) — represents a large, coordinated reduction in holdings that can trigger investor concern and short-term selling pressure. These SEC‑filed sales were disclosed in multiple Form 4s and media reports. Insider Selling: Travere Therapeutics (NASDAQ:TVTX) CAO Sells 4,333 Shares of Stock

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 13th. Zacks Research downgraded Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. TD Cowen restated a “buy” rating on shares of Travere Therapeutics in a research note on Friday, October 31st. Finally, Citigroup lifted their price target on Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a report on Friday, October 31st. Twelve investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.86.

Hedge Funds Weigh In On Travere Therapeutics

Several large investors have recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Travere Therapeutics in the fourth quarter valued at about $558,000. RFG Advisory LLC acquired a new position in Travere Therapeutics during the 4th quarter valued at about $1,633,000. Garner Asset Management Corp acquired a new position in Travere Therapeutics during the 4th quarter valued at about $69,000. Oppenheimer Asset Management Inc. bought a new position in shares of Travere Therapeutics in the 4th quarter valued at about $213,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of Travere Therapeutics during the 4th quarter worth approximately $1,104,000.

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.