Insider Selling: Travere Therapeutics (NASDAQ:TVTX) CEO Sells 108,493 Shares

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric Dube sold 108,493 shares of the company’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $64.61, for a total transaction of $7,009,732.73. Following the completion of the transaction, the chief executive officer owned 432,886 shares of the company’s stock, valued at approximately $27,968,764.46. This trade represents a 20.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Stock Performance

Shares of NASDAQ:TVTX traded up $1.26 on Thursday, hitting $64.74. The company’s stock had a trading volume of 1,384,694 shares, compared to its average volume of 1,246,848. Travere Therapeutics, Inc. has a 12 month low of $22.06 and a 12 month high of $68.73. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of -140.74 and a beta of 1.05. The stock’s 50-day moving average is $61.63 and its two-hundred day moving average is $48.50. The company has a debt-to-equity ratio of 24.58, a quick ratio of 3.99 and a current ratio of 4.05.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The business had revenue of $169.58 million for the quarter, compared to analyst estimates of $157.27 million. During the same quarter last year, the business earned $0.13 earnings per share. The business’s revenue for the quarter was up 48.2% on a year-over-year basis. On average, equities research analysts forecast that Travere Therapeutics, Inc. will post -0.54 EPS for the current year.

Hedge Funds Weigh In On Travere Therapeutics

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its holdings in Travere Therapeutics by 53.4% in the 2nd quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock worth $34,000 after purchasing an additional 211 shares during the last quarter. Corient Private Wealth LP grew its holdings in Travere Therapeutics by 1.4% during the second quarter. Corient Private Wealth LP now owns 48,125 shares of the company’s stock valued at $2,734,000 after purchasing an additional 648 shares during the last quarter. ProShare Advisors LLC grew its holdings in Travere Therapeutics by 4.1% during the fourth 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. Allworth Financial LP bought a new position in shares of Travere Therapeutics in the second quarter valued at approximately $47,000. Finally, Swiss National Bank raised its position in shares of Travere Therapeutics by 0.6% in the first quarter. Swiss National Bank now owns 168,100 shares of the company’s stock valued at $4,994,000 after purchasing an additional 1,000 shares during the period.

Analyst Ratings Changes

TVTX has been the topic of several analyst reports. Piper Sandler restated an “overweight” rating on shares of Travere Therapeutics in a report on Monday, August 17th. Wedbush raised their price objective on shares of Travere Therapeutics from $61.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. TD Cowen boosted their target price on shares of Travere Therapeutics from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Wells Fargo & Company increased their target price on Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Finally, Weiss Ratings cut Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 23rd. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

About Travere Therapeutics

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare kidney and immune-mediated diseases. The company’s work is centered on conditions with significant unmet medical needs, including diseases that can lead to progressive kidney damage and kidney failure.

Travere’s principal commercial product is FILSPARI (sparsentan), an oral therapy for adults with primary immunoglobulin A nephropathy, or IgA nephropathy, who are at risk of disease progression.