Travere Therapeutics (NASDAQ:TVTX) CFO Christopher Cline Sells 7,242 Shares

Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Christopher Cline sold 7,242 shares of Travere Therapeutics stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $32.12, for a total transaction of $232,613.04. Following the transaction, the chief financial officer directly owned 112,971 shares of the company’s stock, valued at $3,628,628.52. This represents a 6.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Travere Therapeutics Price Performance

Travere Therapeutics stock traded down $0.26 during trading hours on Tuesday, hitting $32.84. 1,748,186 shares of the stock were exchanged, compared to its average volume of 2,976,006. The company has a debt-to-equity ratio of 4.23, a quick ratio of 2.71 and a current ratio of 2.75. The stock has a market capitalization of $2.94 billion, a P/E ratio of -30.98, a P/E/G ratio of 1.01 and a beta of 0.83. Travere Therapeutics, Inc. has a 12 month low of $12.91 and a 12 month high of $42.13. The business’s 50-day moving average is $34.11 and its two-hundred day moving average is $27.76.

Institutional Trading of Travere Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TVTX. Stephens Investment Management Group LLC acquired a new position in Travere Therapeutics during the 3rd quarter valued at about $38,232,000. Wellington Management Group LLP raised its stake 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 buying an additional 1,166,460 shares during the last quarter. Frazier Life Sciences Management L.P. acquired a new position in Travere Therapeutics in the second quarter valued at approximately $14,831,000. Perceptive Advisors LLC bought a new position in Travere Therapeutics in the second quarter valued at approximately $12,347,000. Finally, Marshall Wace LLP bought a new position in Travere Therapeutics in the second quarter valued at approximately $10,992,000.

Analyst Ratings Changes

Several equities analysts have issued reports on TVTX shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, January 21st. Guggenheim restated a “buy” rating and issued a $49.00 target price on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Zacks Research downgraded shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. TD Cowen reissued a “buy” rating on shares of Travere Therapeutics in a report on Friday, October 31st. Finally, Citigroup raised their price objective on shares of Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Twelve research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently 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.