Christopher Cline Sells 1,745 Shares of Travere Therapeutics (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Christopher Cline sold 1,745 shares of Travere Therapeutics stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $32.19, for a total transaction of $56,171.55. Following the transaction, the chief financial officer directly owned 111,226 shares of the company’s stock, valued at approximately $3,580,364.94. This trade represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Travere Therapeutics Price Performance

NASDAQ:TVTX traded down $2.21 during trading hours on Thursday, reaching $29.47. 1,792,981 shares of the company were exchanged, compared to its average volume of 2,882,203. 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 firm has a market cap of $2.64 billion, a PE ratio of -27.80, a price-to-earnings-growth ratio of 1.00 and a beta of 0.83. Travere Therapeutics, Inc. has a twelve month low of $12.91 and a twelve month high of $42.13. The stock’s 50-day moving average is $34.02 and its 200-day moving average is $27.79.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Zacks Research downgraded Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, January 21st. Piper Sandler upped their price objective 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. HC Wainwright reaffirmed a “buy” rating and set a $47.00 price objective on shares of Travere Therapeutics in a research report on Friday, November 28th. Finally, Guggenheim reissued a “buy” rating and issued a $49.00 target price on shares of Travere Therapeutics in a research report on Wednesday, January 14th. Twelve research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.86.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors have recently modified their holdings of the company. Emerald Advisers LLC increased its holdings 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 buying an additional 55,407 shares during the last quarter. Capital Fund Management S.A. acquired a new position in shares of Travere Therapeutics during the 2nd quarter worth about $1,501,000. Squarepoint Ops LLC increased its holdings in shares of Travere Therapeutics by 98.7% in the 2nd quarter. Squarepoint Ops LLC now owns 479,394 shares of the company’s stock valued at $7,095,000 after acquiring an additional 238,070 shares during the last quarter. Voya Investment Management LLC raised its position in shares of Travere Therapeutics by 16.2% during the 3rd quarter. Voya Investment Management LLC now owns 194,854 shares of the company’s stock worth $4,657,000 after acquiring an additional 27,133 shares in the last quarter. Finally, Lisanti Capital Growth LLC purchased a new stake in Travere Therapeutics during the third quarter worth approximately $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.