Travere Therapeutics (NASDAQ:TVTX) Shares Down 4% on Insider Selling

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s stock price traded down 4% on Tuesday following insider selling activity. The company traded as low as $37.63 and last traded at $37.31. 655,165 shares changed hands during trading, a decline of 64% from the average session volume of 1,803,260 shares. The stock had previously closed at $38.88.

Specifically, insider Peter Heerma sold 4,980 shares of Travere Therapeutics stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $40.00, for a total value of $199,200.00. Following the completion of the sale, the insider owned 113,013 shares of the company’s stock, valued at approximately $4,520,520. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Sandra Calvin sold 7,402 shares of the company’s stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $40.00, for a total transaction of $296,080.00. Following the transaction, the chief accounting officer owned 38,233 shares in the company, valued at approximately $1,529,320. The trade was a 16.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In other Travere Therapeutics news, insider Jula Inrig sold 15,000 shares of the firm’s stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $42.00, for a total value of $630,000.00. Following the transaction, the insider directly owned 88,787 shares of the company’s stock, valued at approximately $3,729,054. This trade represents a 14.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

A number of research firms recently weighed in on TVTX. Piper Sandler upped their target price on shares of Travere Therapeutics from $26.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Zacks Research downgraded Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. TD Cowen raised their target price on Travere Therapeutics from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, October 31st. Citigroup upped their price target on Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Wall Street Zen upgraded Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 13th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.71.

Travere Therapeutics Stock Performance

The company has a debt-to-equity ratio of 4.23, a quick ratio of 2.71 and a current ratio of 2.75. The company’s 50 day moving average price is $34.36 and its 200-day moving average price is $24.61. The company has a market cap of $3.35 billion, a PE ratio of -35.36 and a beta of 0.89.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.59. Travere Therapeutics had a negative return on equity of 178.68% and a negative net margin of 20.32%.The company had revenue of $164.86 million during the quarter, compared to analyst estimates of $106.09 million. During the same quarter last year, the firm posted ($0.70) EPS. The firm’s revenue for the quarter was up 162.1% on a year-over-year basis. Equities research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Travere Therapeutics

Several large investors have recently modified their holdings of the business. Northern Trust Corp lifted its stake in shares of Travere Therapeutics by 7.2% during the 1st quarter. Northern Trust Corp now owns 808,687 shares of the company’s stock valued at $14,492,000 after buying an additional 54,292 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Travere Therapeutics by 10.4% in the first quarter. Hsbc Holdings PLC now owns 30,737 shares of the company’s stock worth $542,000 after acquiring an additional 2,902 shares during the period. MetLife Investment Management LLC grew its position in shares of Travere Therapeutics by 10.2% in the first quarter. MetLife Investment Management LLC now owns 49,288 shares of the company’s stock valued at $883,000 after purchasing an additional 4,577 shares in the last quarter. Corebridge Financial Inc. raised its stake in shares of Travere Therapeutics by 9.7% during the 1st quarter. Corebridge Financial Inc. now owns 41,211 shares of the company’s stock valued at $739,000 after purchasing an additional 3,646 shares during the period. Finally, Ieq Capital LLC raised its stake in shares of Travere Therapeutics by 60.6% during the 1st quarter. Ieq Capital LLC now owns 33,323 shares of the company’s stock valued at $597,000 after purchasing an additional 12,574 shares during the period.

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.