Insider Selling: Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Sells 5,192 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) CFO Christopher R. Cline sold 5,192 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $20.12, for a total transaction of $104,463.04. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Travere Therapeutics Price Performance

Travere Therapeutics stock traded down $0.11 during mid-day trading on Friday, reaching $21.75. The company had a trading volume of 2,442,302 shares, compared to its average volume of 1,303,585. The stock's 50-day simple moving average is $18.86 and its 200-day simple moving average is $15.64. The company has a market capitalization of $1.70 billion, a P/E ratio of -4.78 and a beta of 0.72. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $22.25.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TVTX shares. Cantor Fitzgerald assumed coverage on shares of Travere Therapeutics in a report on Friday, January 10th. They issued an "overweight" rating on the stock. Piper Sandler boosted their price target on Travere Therapeutics from $12.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. HC Wainwright raised their price objective on Travere Therapeutics from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. Scotiabank upped their target price on Travere Therapeutics from $23.00 to $27.00 and gave the company a "sector outperform" rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company raised shares of Travere Therapeutics from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

Hedge Funds Weigh In On Travere Therapeutics

Several hedge funds have recently added to or reduced their stakes in TVTX. Jennison Associates LLC purchased a new position in shares of Travere Therapeutics during the fourth quarter valued at approximately $14,222,000. abrdn plc purchased a new position in shares of Travere Therapeutics during the 4th quarter worth $6,829,000. Emerald Advisers LLC lifted its stake in shares of Travere Therapeutics by 19.8% during the 3rd quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company's stock worth $27,430,000 after purchasing an additional 323,513 shares during the period. Impax Asset Management Group plc purchased a new position in shares of Travere Therapeutics during the 4th quarter worth $5,226,000. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Travere Therapeutics by 26.0% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company's stock worth $16,588,000 after purchasing an additional 244,444 shares during the last quarter.

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.