Insider Selling: Travere Therapeutics (NASDAQ:TVTX) Insider Sells $280,900.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Elizabeth Reed sold 10,000 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $28.09, for a total value of $280,900.00. Following the completion of the transaction, the insider directly owned 105,211 shares in the company, valued at $2,955,376.99. The trade was a 8.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $26.84 on Friday. 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 firm has a market capitalization of $2.48 billion, a P/E ratio of -89.46 and a beta of 0.81. The business has a 50-day moving average of $29.29 and a 200-day moving average of $30.35. Travere Therapeutics, Inc. has a 1 year low of $12.91 and a 1 year high of $42.13.

Institutional Trading of Travere Therapeutics

A number of hedge funds have recently made changes to their positions in TVTX. Rockefeller Capital Management L.P. increased its holdings in shares of Travere Therapeutics by 1,604.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,642 shares of the company’s stock worth $101,000 after acquiring an additional 2,487 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Travere Therapeutics during the 4th quarter valued at $278,000. Empowered Funds LLC acquired a new stake in Travere Therapeutics during the 4th quarter valued at $115,000. KVP Capital Advisors LP bought a new position in Travere Therapeutics during the fourth quarter worth $3,477,000. Finally, XTX Topco Ltd boosted its position in Travere Therapeutics by 475.0% during the fourth quarter. XTX Topco Ltd now owns 60,680 shares of the company’s stock worth $2,319,000 after purchasing an additional 50,127 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TVTX. HC Wainwright reaffirmed a “buy” rating and issued a $47.00 target price on shares of Travere Therapeutics in a research note on Friday, November 28th. Guggenheim reissued a “buy” rating and set a $49.00 price target on shares of Travere Therapeutics in a research report on Wednesday, January 14th. Wall Street Zen lowered shares of Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Piper Sandler upped their price objective on shares of Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Travere Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.17.

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.