Elizabeth Reed Sells 2,994 Shares of Travere Therapeutics (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Elizabeth Reed sold 2,994 shares of Travere Therapeutics stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $32.18, for a total value of $96,346.92. Following the sale, the insider directly owned 105,211 shares in the company, valued at approximately $3,385,689.98. This trade represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Travere Therapeutics Price Performance

Shares of TVTX stock opened at $29.71 on Friday. Travere Therapeutics, Inc. has a 12 month low of $12.91 and a 12 month high of $42.13. The company has a market capitalization of $2.66 billion, a P/E ratio of -28.03, a P/E/G ratio of 0.82 and a beta of 0.83. The stock has a 50 day moving average of $33.76 and a two-hundred day moving average of $27.89. The company has a current ratio of 2.75, a quick ratio of 2.71 and a debt-to-equity ratio of 4.23.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Guggenheim reissued a “buy” rating and issued a $49.00 price target on shares of Travere Therapeutics in a report on Wednesday, January 14th. Piper Sandler lifted their target price on shares of Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday. Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. HC Wainwright restated a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a research note on Friday, November 28th. Finally, Zacks Research downgraded Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Twelve research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $39.07.

Institutional Trading of Travere Therapeutics

Several large investors have recently added to or reduced their stakes in TVTX. Arizona State Retirement System raised its stake in shares of Travere Therapeutics by 1.5% in the third quarter. Arizona State Retirement System now owns 24,964 shares of the company’s stock valued at $597,000 after acquiring an additional 375 shares during the last quarter. Comerica Bank increased its holdings in Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after purchasing an additional 492 shares in the last quarter. Prudential Financial Inc. raised its position in Travere Therapeutics by 0.3% in the 2nd quarter. Prudential Financial Inc. now owns 244,256 shares of the company’s stock valued at $3,615,000 after purchasing an additional 615 shares during the last quarter. ProShare Advisors LLC raised its position in Travere Therapeutics by 4.1% in the 4th quarter. ProShare Advisors LLC now owns 19,007 shares of the company’s stock valued at $726,000 after purchasing an additional 756 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Travere Therapeutics by 3.5% in the second quarter. Teacher Retirement System of Texas now owns 22,688 shares of the company’s stock worth $336,000 after purchasing an additional 773 shares in the last quarter.

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.