Travere Therapeutics (NASDAQ:TVTX) Insider Sells $300,000.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Elizabeth Reed sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the insider owned 105,211 shares of the company’s stock, valued at approximately $3,156,330. The trade was a 8.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Stock Down 3.1%

Shares of TVTX stock traded down $0.98 on Thursday, hitting $30.44. The stock had a trading volume of 1,149,754 shares, compared to its average volume of 1,940,488. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.74 and a quick ratio of 2.70. The business has a 50 day moving average of $29.16 and a 200 day moving average of $30.75. Travere Therapeutics, Inc. has a 12-month low of $12.91 and a 12-month high of $42.13. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -101.46 and a beta of 0.86.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Wall Street Zen downgraded Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. JPMorgan Chase & Co. reduced their target price on Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, March 25th. Guggenheim reaffirmed a “buy” rating and set a $49.00 price target on shares of Travere Therapeutics in a research report on Wednesday, January 14th. Finally, Piper Sandler lifted their price target on Travere Therapeutics from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Institutional Trading of Travere Therapeutics

A number of large investors have recently added to or reduced their stakes in TVTX. Arizona State Retirement System raised its position in Travere Therapeutics by 1.5% in the third quarter. Arizona State Retirement System now owns 24,964 shares of the company’s stock worth $597,000 after acquiring an additional 375 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Travere Therapeutics by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock valued at $45,000 after acquiring an additional 487 shares during the period. Comerica Bank grew its position in shares of 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 acquiring an additional 492 shares during the period. Prudential Financial Inc. increased its stake in shares of Travere Therapeutics by 0.3% during the 2nd quarter. Prudential Financial Inc. now owns 244,256 shares of the company’s stock worth $3,615,000 after purchasing an additional 615 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of Travere Therapeutics by 4.1% during the 4th quarter. ProShare Advisors LLC now owns 19,007 shares of the company’s stock worth $726,000 after purchasing an additional 756 shares during 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.