Insider Selling: Travere Therapeutics (NASDAQ:TVTX) Insider Sells $409,100.02 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider William Rote sold 12,446 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $32.87, for a total value of $409,100.02. Following the completion of the sale, the insider directly owned 109,087 shares in the company, valued at approximately $3,585,689.69. This represents a 10.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Travere Therapeutics Price Performance

Shares of TVTX stock opened at $29.47 on Friday. The business has a fifty day simple moving average of $33.88 and a 200 day simple moving average of $27.80. The company has a market cap of $2.64 billion, a P/E ratio of -27.80, a P/E/G ratio of 0.88 and a beta of 0.83. The company has a quick ratio of 2.71, a current ratio of 2.75 and a debt-to-equity ratio of 4.23. Travere Therapeutics, Inc. has a twelve month low of $12.91 and a twelve month high of $42.13.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in Travere Therapeutics in the second quarter valued at approximately $33,000. First Horizon Corp acquired a new position in shares of Travere Therapeutics in the 3rd quarter worth approximately $36,000. Torren Management LLC bought a new stake in shares of Travere Therapeutics in the 4th quarter valued at $38,000. Comerica Bank increased its position in shares of Travere Therapeutics by 77.5% during the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after buying an additional 492 shares during the period. Finally, Garner Asset Management Corp acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth $69,000.

Wall Street Analyst Weigh In

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

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.