Insider Selling: Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Sells $220,000.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Roy D. Baynes sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $22.00, for a total value of $220,000.00. Following the sale, the director now directly owns 31,000 shares in the company, valued at approximately $682,000. The trade was a 24.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Travere Therapeutics Stock Performance

Shares of TVTX opened at $23.20 on Thursday. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The stock has a 50-day moving average of $19.06 and a two-hundred day moving average of $15.95. The stock has a market cap of $1.81 billion, a P/E ratio of -5.10 and a beta of 0.72. Travere Therapeutics, Inc. has a one year low of $5.12 and a one year high of $25.29.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning increased its holdings in Travere Therapeutics by 4.3% in the 3rd quarter. Creative Planning now owns 23,938 shares of the company’s stock worth $335,000 after buying an additional 995 shares during the period. Rhumbline Advisers boosted its holdings in shares of Travere Therapeutics by 2.2% in the 4th quarter. Rhumbline Advisers now owns 121,248 shares of the company’s stock valued at $2,112,000 after acquiring an additional 2,640 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Travere Therapeutics by 13.5% in the fourth quarter. Arizona State Retirement System now owns 22,396 shares of the company’s stock worth $390,000 after acquiring an additional 2,666 shares during the period. R Squared Ltd purchased a new position in shares of Travere Therapeutics during the fourth quarter worth $53,000. Finally, CWM LLC lifted its position in Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after purchasing an additional 3,065 shares during the period.

Analyst Ratings Changes

A number of research firms have recently weighed in on TVTX. Evercore ISI raised their price target on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday. Cantor Fitzgerald initiated coverage on shares of Travere Therapeutics in a research note on Friday, January 10th. They issued an “overweight” rating for the company. Piper Sandler lifted their price target on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Wells Fargo & Company upgraded Travere Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $9.00 to $27.00 in a report on Monday, October 21st. Finally, Barclays boosted their target price on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.77.

About Travere Therapeutics

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.