Travere Therapeutics (NASDAQ:TVTX) Insider Sells $230,461.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Elizabeth Reed sold 7,175 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $32.12, for a total value of $230,461.00. Following the transaction, the insider owned 108,205 shares in the company, valued at $3,475,544.60. The trade was a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Travere Therapeutics Stock Down 0.8%

NASDAQ TVTX traded down $0.26 on Tuesday, hitting $32.84. 1,748,186 shares of the company were exchanged, compared to its average volume of 2,976,006. The company has a current ratio of 2.75, a quick ratio of 2.71 and a debt-to-equity ratio of 4.23. The company has a market cap of $2.94 billion, a PE ratio of -30.98, a PEG ratio of 1.01 and a beta of 0.83. The stock has a fifty day moving average of $34.11 and a 200-day moving average of $27.76. Travere Therapeutics, Inc. has a 12 month low of $12.91 and a 12 month high of $42.13.

Wall Street Analysts Forecast Growth

TVTX has been the subject of several research reports. HC Wainwright restated a “buy” rating and issued a $47.00 target price on shares of Travere Therapeutics in a research note on Friday, November 28th. Guggenheim reiterated a “buy” rating and issued a $49.00 price target on shares of Travere Therapeutics in a report on Wednesday, January 14th. TD Cowen reissued a “buy” rating on shares of Travere Therapeutics in a research note on Friday, October 31st. Zacks Research lowered Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Wall Street Zen upgraded Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 13th. Twelve analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.86.

Institutional Trading of Travere Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in Travere Therapeutics in the 2nd quarter valued at $33,000. First Horizon Corp bought a new stake in shares of Travere Therapeutics during the 3rd quarter worth $36,000. Torren Management LLC bought a new stake in shares of Travere Therapeutics during the 4th quarter worth $38,000. Comerica Bank boosted its holdings in shares of Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after buying an additional 492 shares during the last quarter. Finally, Garner Asset Management Corp bought a new position in Travere Therapeutics during the fourth quarter valued at about $69,000.

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.