Elizabeth Reed Sells 7,175 Shares of Travere Therapeutics (NASDAQ:TVTX) Stock

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

Travere Therapeutics Stock Down 3.5%

Shares of Travere Therapeutics stock opened at $31.68 on Thursday. Travere Therapeutics, Inc. has a 12-month low of $12.91 and a 12-month high of $42.13. The firm has a market capitalization of $2.83 billion, a PE ratio of -29.89, a price-to-earnings-growth ratio of 1.00 and a beta of 0.83. The company has a quick ratio of 2.71, a current ratio of 2.75 and a debt-to-equity ratio of 4.23. The stock’s fifty day moving average is $34.02 and its 200-day moving average is $27.79.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors have recently modified their holdings of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Travere Therapeutics during the 4th quarter valued at $558,000. RFG Advisory LLC acquired a new stake in Travere Therapeutics during the fourth quarter valued at $1,633,000. Garner Asset Management Corp purchased a new position in Travere Therapeutics in the fourth quarter valued at about $69,000. Oppenheimer Asset Management Inc. purchased a new position in Travere Therapeutics in the fourth quarter valued at about $213,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in Travere Therapeutics in the 4th quarter worth about $1,104,000.

Key Travere Therapeutics News

Here are the key news stories impacting Travere Therapeutics this week:

• Positive Sentiment: Bank of America Securities reaffirmed its Buy rating on Travere, which supports demand from institutional investors and may limit downside pressure. Bank of America Securities Sticks to Its Buy Rating for Travere Therapeutics (TVTX)
• Neutral Sentiment: Travere will present at the Guggenheim Emerging Outlook: Biotech Summit on Feb. 11 (live webcast/replay available). The event gives management a platform to update investors and could provide near-term catalysts if new data or guidance are disclosed. Travere Therapeutics to Present at the Guggenheim Emerging Outlook Biotech Summit
• Negative Sentiment: Heavy insider selling on Feb. 3 — including CEO Eric Dube (100,087 shares) and multiple senior officers (CFO, CAO and others) — represents a large, coordinated reduction in holdings that can trigger investor concern and short-term selling pressure. These SEC‑filed sales were disclosed in multiple Form 4s and media reports. Insider Selling: Travere Therapeutics (NASDAQ:TVTX) CAO Sells 4,333 Shares of Stock

Analyst Upgrades and Downgrades

TVTX has been the subject of several recent analyst reports. Zacks Research cut shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Citigroup raised their price objective on shares of Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Guggenheim reiterated a “buy” rating and set a $49.00 price objective on shares of Travere Therapeutics in a research report on Wednesday, January 14th. HC Wainwright restated a “buy” rating and issued a $47.00 target price on shares of Travere Therapeutics in a report on Friday, November 28th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, January 21st. Twelve investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.