Travere Therapeutics (NASDAQ:TVTX) Insider Sells $230,461.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Elizabeth Reed sold 7,175 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $32.12, for a total transaction of $230,461.00. Following the sale, the insider owned 108,205 shares in the company, valued at $3,475,544.60. This represents a 6.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Travere Therapeutics Trading Down 7.0%

TVTX opened at $29.47 on Friday. The stock has a 50-day moving average of $33.88 and a 200 day moving average of $27.80. The company has a current ratio of 2.75, a quick ratio of 2.71 and a debt-to-equity ratio of 4.23. Travere Therapeutics, Inc. has a 12 month low of $12.91 and a 12 month high of $42.13. The firm has a market cap of $2.64 billion, a P/E ratio of -27.80, a P/E/G ratio of 0.88 and a beta of 0.83.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Stephens Investment Management Group LLC purchased a new position in Travere Therapeutics in the 3rd quarter worth about $38,232,000. Wellington Management Group LLP increased its position in shares of Travere Therapeutics by 3,331.9% during the third quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock worth $28,715,000 after acquiring an additional 1,166,460 shares during the period. Frazier Life Sciences Management L.P. purchased a new position in shares of Travere Therapeutics during the second quarter worth approximately $14,831,000. Perceptive Advisors LLC bought a new stake in shares of Travere Therapeutics during the second quarter valued at approximately $12,347,000. Finally, Marshall Wace LLP purchased a new stake in shares of Travere Therapeutics in the second quarter valued at approximately $10,992,000.

Analyst Ratings Changes

Several research firms have recently weighed in on TVTX. Wall Street Zen raised Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 13th. TD Cowen reiterated a “buy” rating on shares of Travere Therapeutics in a research report on Friday, October 31st. Citigroup increased their target price on shares of Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Zacks Research cut shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $47.00 price objective on shares of Travere Therapeutics in a research report on Friday, November 28th. Twelve investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.86.

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.