Travere Therapeutics (NASDAQ:TVTX) CEO Sells $1,855,800.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric Dube sold 60,000 shares of Travere Therapeutics stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $30.93, for a total value of $1,855,800.00. Following the completion of the transaction, the chief executive officer owned 432,886 shares of the company’s stock, valued at approximately $13,389,163.98. This trade represents a 12.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Price Performance

Shares of NASDAQ TVTX opened at $30.44 on Friday. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.74 and a quick ratio of 2.70. The company has a market cap of $2.81 billion, a price-to-earnings ratio of -101.46 and a beta of 0.86. The stock’s 50-day moving average is $29.20 and its two-hundred day moving average is $30.86. Travere Therapeutics, Inc. has a 1-year low of $12.91 and a 1-year high of $42.13.

Analysts Set New Price Targets

Several research analysts have commented on TVTX shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. Guggenheim reaffirmed a “buy” rating and set a $49.00 price objective on shares of Travere Therapeutics in a research report on Wednesday, January 14th. JPMorgan Chase & Co. lowered their target price on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, March 25th. Piper Sandler increased their target price on Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Finally, Wall Street Zen cut Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Travere Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $39.00.

Institutional Trading of Travere Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Travere Therapeutics by 13.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,777 shares of the company’s stock valued at $1,029,000 after buying an additional 6,831 shares in the last quarter. Creative Planning raised its stake in Travere Therapeutics by 26.0% during the 2nd quarter. Creative Planning now owns 31,627 shares of the company’s stock worth $468,000 after acquiring an additional 6,524 shares in the last quarter. Swiss National Bank lifted its position in Travere Therapeutics by 1.9% in the second quarter. Swiss National Bank now owns 161,100 shares of the company’s stock valued at $2,384,000 after acquiring an additional 3,000 shares during the last quarter. Legal & General Group Plc boosted its stake in Travere Therapeutics by 23.6% in the second quarter. Legal & General Group Plc now owns 510,428 shares of the company’s stock valued at $7,554,000 after acquiring an additional 97,496 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Travere Therapeutics by 44.8% during the second quarter. Franklin Resources Inc. now owns 76,511 shares of the company’s stock worth $1,132,000 after purchasing an additional 23,675 shares during the last quarter.

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.