Insider Selling: Travere Therapeutics (NASDAQ:TVTX) CFO Sells 1,745 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Christopher Cline sold 1,745 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $32.19, for a total transaction of $56,171.55. Following the completion of the transaction, the chief financial officer owned 111,226 shares in the company, valued at approximately $3,580,364.94. The trade was a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Travere Therapeutics Stock Performance

Shares of NASDAQ TVTX traded down $2.21 during trading on Thursday, reaching $29.47. 1,792,981 shares of the stock traded hands, compared to its average volume of 2,882,203. The company has a 50-day moving average of $34.02 and a 200-day moving average of $27.79. Travere Therapeutics, Inc. has a 52-week low of $12.91 and a 52-week high of $42.13. The company has a debt-to-equity ratio of 4.23, a current ratio of 2.75 and a quick ratio of 2.71. The stock has a market capitalization of $2.64 billion, a P/E ratio of -27.80, a price-to-earnings-growth ratio of 1.00 and a beta of 0.83.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TVTX shares. Zacks Research lowered shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, January 21st. Citigroup raised their price objective on Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Piper Sandler upped their price target on Travere Therapeutics from $26.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Finally, Wall Street Zen raised Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 13th. Twelve research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.86.

Institutional Trading of Travere Therapeutics

A number of large investors have recently made changes to their positions in the business. Torren Management LLC bought a new position in shares of Travere Therapeutics during the 4th quarter valued at approximately $38,000. Comerica Bank increased its holdings in Travere Therapeutics by 77.5% during the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after buying an additional 492 shares during the period. First Horizon Corp bought a new position in Travere Therapeutics in the third quarter worth about $36,000. Garner Asset Management Corp acquired a new position in shares of Travere Therapeutics during the fourth quarter worth $69,000. Finally, Allworth Financial LP raised its position in shares of Travere Therapeutics by 240.6% in the 4th quarter. Allworth Financial LP now owns 2,221 shares of the company’s stock valued at $85,000 after purchasing an additional 1,569 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.