Travere Therapeutics (NASDAQ:TVTX) Trading Down 4.6% After Insider Selling

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s stock price was down 4.6% during trading on Monday after an insider sold shares in the company. The stock traded as low as $20.28 and last traded at $20.75. Approximately 322,220 shares were traded during trading, a decline of 76% from the average daily volume of 1,317,635 shares. The stock had previously closed at $21.75.

Specifically, Director Roy D. Baynes sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $220,000.00. Following the completion of the transaction, the director now owns 31,000 shares in the company, valued at $682,000. This trade represents a 24.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sandra Calvin sold 3,348 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $20.12, for a total value of $67,361.76. Following the completion of the sale, the chief accounting officer now owns 63,654 shares in the company, valued at $1,280,718.48. This trade represents a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Travere Therapeutics news, CFO Christopher R. Cline sold 5,192 shares of Travere Therapeutics stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $20.12, for a total transaction of $104,463.04. Following the completion of the transaction, the chief financial officer now directly owns 90,038 shares of the company’s stock, valued at approximately $1,811,564.56. This trade represents a 5.45 % 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.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Piper Sandler increased their target price on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Scotiabank upped their price objective on shares of Travere Therapeutics from $27.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Wednesday. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $9.00 to $27.00 in a research note on Monday, October 21st. Canaccord Genuity Group boosted their target price on Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Evercore ISI raised their price target on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.77.

Travere Therapeutics Trading Down 2.3 %

The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The company has a market cap of $1.81 billion, a P/E ratio of -5.10 and a beta of 0.72. The business has a 50-day moving average price of $18.98 and a two-hundred day moving average price of $15.90.

Institutional Trading of Travere Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Travere Therapeutics in the 4th quarter valued at about $53,000. CWM LLC lifted its holdings in Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after buying an additional 3,065 shares during the period. Quarry LP bought a new position in Travere Therapeutics in the third quarter valued at approximately $105,000. Aigen Investment Management LP acquired a new stake in Travere Therapeutics during the 3rd quarter worth $170,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Travere Therapeutics during the 4th quarter valued at $182,000.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.