Eric Dube Sells 60,000 Shares of Travere Therapeutics (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric Dube sold 60,000 shares of Travere Therapeutics stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $30.93, for a total value of $1,855,800.00. Following the sale, the chief executive officer owned 432,886 shares in the company, valued at $13,389,163.98. This represents a 12.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 Down 3.1%

Shares of Travere Therapeutics stock traded down $0.98 on Thursday, hitting $30.44. 1,149,754 shares of the company’s stock traded hands, compared to its average volume of 1,940,488. Travere Therapeutics, Inc. has a 52-week low of $12.91 and a 52-week high of $42.13. The company has a quick ratio of 2.70, a current ratio of 2.74 and a debt-to-equity ratio of 2.71. The stock has a market cap of $2.81 billion, a P/E ratio of -101.46 and a beta of 0.86. The firm’s 50-day moving average is $29.16 and its 200 day moving average is $30.75.

Institutional Trading of Travere Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of TVTX. State of Wyoming bought a new position in shares of Travere Therapeutics in the 4th quarter worth about $37,000. Torren Management LLC acquired a new stake in Travere Therapeutics during the fourth quarter worth about $38,000. Comerica Bank raised its stake in Travere Therapeutics by 77.5% during the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after acquiring an additional 492 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Travere Therapeutics by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock worth $45,000 after acquiring an additional 487 shares during the last quarter. Finally, First Horizon Corp bought a new position in Travere Therapeutics in the third quarter worth about $36,000.

Wall Street Analyst Weigh In

TVTX has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, March 25th. Piper Sandler upped their target price on shares of Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Wall Street Zen cut shares of Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. Finally, Guggenheim restated a “buy” rating and set a $49.00 price objective on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

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.