Travere Therapeutics (NASDAQ:TVTX) CEO Eric Dube Sells 60,000 Shares

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric Dube sold 60,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $30.93, for a total transaction of $1,855,800.00. Following the completion of the sale, the chief executive officer owned 432,886 shares of the company’s stock, valued at approximately $13,389,163.98. This trade represents a 12.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $30.44 on Friday. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.74 and a quick ratio of 2.70. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of -101.46 and a beta of 0.86. The firm’s fifty day moving average price is $29.18 and its 200 day moving average price is $30.75. Travere Therapeutics, Inc. has a 1-year low of $12.91 and a 1-year high of $42.13.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TVTX. Guggenheim reaffirmed a “buy” rating and set a $49.00 price target on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. 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. JPMorgan Chase & Co. lowered their price target on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Finally, 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. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Emerald Advisers LLC raised its position in Travere Therapeutics by 2.6% in the third quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company’s stock valued at $51,308,000 after purchasing an additional 55,407 shares during the period. Essex Investment Management Co. LLC acquired a new stake in shares of Travere Therapeutics in the third quarter valued at about $3,872,000. Voya Investment Management LLC grew its stake in shares of Travere Therapeutics by 16.2% in the third quarter. Voya Investment Management LLC now owns 194,854 shares of the company’s stock valued at $4,657,000 after buying an additional 27,133 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in shares of Travere Therapeutics during the 2nd quarter valued at about $1,501,000. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of Travere Therapeutics during the 3rd quarter valued at about $3,095,000.

About Travere Therapeutics

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.