Insider Selling: Travere Therapeutics (NASDAQ:TVTX) Director Sells 10,000 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Roy Baynes sold 10,000 shares of Travere Therapeutics stock in a transaction on Monday, April 6th. The shares were sold at an average price of $33.00, for a total transaction of $330,000.00. Following the completion of the sale, the director directly owned 37,500 shares of the company’s stock, valued at approximately $1,237,500. This trade represents a 21.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Stock Down 0.5%

TVTX traded down $0.16 during midday trading on Tuesday, hitting $31.67. The company had a trading volume of 987,385 shares, compared to its average volume of 1,941,353. 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 company has a market capitalization of $2.92 billion, a price-to-earnings ratio of -105.56 and a beta of 0.86. The stock’s 50 day moving average price is $29.24 and its 200 day moving average price is $30.96.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TVTX. State of Wyoming purchased a new position in Travere Therapeutics during the fourth quarter worth about $37,000. Torren Management LLC purchased a new position in Travere Therapeutics during the fourth quarter worth about $38,000. Comerica Bank boosted its holdings 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 purchasing an additional 492 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Travere Therapeutics by 69.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock worth $45,000 after purchasing an additional 487 shares during the last quarter. Finally, First Horizon Corp purchased a new position in Travere Therapeutics during the third quarter worth about $36,000.

Wall Street Analysts Forecast Growth

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

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.