Travere Therapeutics (NASDAQ:TVTX) Insider William Rote Sells 9,100 Shares

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider William Rote sold 9,100 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $39.09, for a total value of $355,719.00. Following the transaction, the insider directly owned 113,987 shares of the company’s stock, valued at $4,455,751.83. This represents a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 TVTX stock traded up $0.73 on Thursday, hitting $40.82. 1,816,407 shares of the stock were exchanged, compared to its average volume of 2,188,317. 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 $3.77 billion, a P/E ratio of -136.06 and a beta of 0.86. The business has a 50-day moving average of $30.56 and a 200 day moving average of $31.91. Travere Therapeutics, Inc. has a fifty-two week low of $13.88 and a fifty-two week high of $43.31.

Institutional Trading of Travere Therapeutics

A number of hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC lifted its position in shares of Travere Therapeutics by 60.4% in the first quarter. SG Americas Securities LLC now owns 54,691 shares of the company’s stock valued at $1,625,000 after buying an additional 20,591 shares during the last quarter. Diversified Trust Co lifted its position in shares of Travere Therapeutics by 12.4% in the first quarter. Diversified Trust Co now owns 28,161 shares of the company’s stock valued at $837,000 after buying an additional 3,117 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Travere Therapeutics by 1,604.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,642 shares of the company’s stock valued at $101,000 after buying an additional 2,487 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Travere Therapeutics in the fourth quarter valued at approximately $278,000. Finally, Empowered Funds LLC acquired a new stake in shares of Travere Therapeutics in the fourth quarter valued at approximately $115,000.

Wall Street Analysts Forecast Growth

TVTX has been the subject of several recent research reports. Wedbush increased their price target on Travere Therapeutics from $39.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, April 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, January 21st. Guggenheim increased their price target on Travere Therapeutics from $49.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. HC Wainwright reissued a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a research report on Tuesday, April 14th. Finally, Canaccord Genuity Group increased their price target on Travere Therapeutics from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Travere Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

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.