Travere Therapeutics (NASDAQ:TVTX) Director Sells $431,145.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Roy Baynes sold 9,750 shares of Travere Therapeutics stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $44.22, for a total value of $431,145.00. Following the transaction, the director owned 37,500 shares in the company, valued at $1,658,250. This trade represents a 20.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Stock Up 1.8%

Shares of NASDAQ:TVTX traded up $0.79 during trading on Monday, hitting $44.91. 2,406,836 shares of the company’s stock traded hands, compared to its average volume of 2,150,284. Travere Therapeutics, Inc. has a 52 week low of $13.88 and a 52 week high of $45.43. The company has a current ratio of 2.74, a quick ratio of 2.70 and a debt-to-equity ratio of 2.71. The company has a market cap of $4.15 billion, a price-to-earnings ratio of -149.70 and a beta of 1.13. The company has a 50-day moving average price of $32.02 and a 200-day moving average price of $32.59.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TVTX. JPMorgan Chase & Co. dropped their target price on Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Wedbush lifted their target price on Travere Therapeutics from $39.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, April 14th. Citigroup lifted their target price on Travere Therapeutics from $48.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Canaccord Genuity Group lifted their target price on Travere Therapeutics from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Finally, Guggenheim lifted their target price on Travere Therapeutics from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.67.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TVTX. Stephens Investment Management Group LLC acquired a new position in shares of Travere Therapeutics during the 3rd quarter worth approximately $38,232,000. State Street Corp increased its position in shares of Travere Therapeutics by 47.8% during the 4th quarter. State Street Corp now owns 4,756,666 shares of the company’s stock worth $181,752,000 after purchasing an additional 1,538,827 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Travere Therapeutics by 3,331.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock worth $28,715,000 after purchasing an additional 1,166,460 shares during the last quarter. Fiera Capital Corp acquired a new position in shares of Travere Therapeutics during the 4th quarter worth approximately $33,398,000. Finally, Perceptive Advisors LLC acquired a new position in shares of Travere Therapeutics during the 2nd quarter worth approximately $12,347,000.

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.