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

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) Director Roy D. Baynes sold 10,000 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were 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 directly owns 31,000 shares of the company's stock, valued at $682,000. The trade was a 24.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Travere Therapeutics Trading Down 3.0 %

TVTX stock traded down $0.65 during midday trading on Monday, reaching $21.10. 1,796,272 shares of the company's stock traded hands, compared to its average volume of 1,375,249. 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 fifty-two week low of $5.12 and a fifty-two week high of $22.25. The business has a 50-day moving average price of $18.86 and a two-hundred day moving average price of $15.73. The company has a market capitalization of $1.65 billion, a P/E ratio of -4.64 and a beta of 0.72.

Analysts Set New Price Targets

Several research firms have commented on TVTX. Barclays lifted their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Piper Sandler upped their target price on Travere Therapeutics from $12.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. Scotiabank raised their price target on Travere Therapeutics from $23.00 to $27.00 and gave the stock a "sector outperform" rating in a research note on Friday, November 1st. Wells Fargo & Company upgraded Travere Therapeutics from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $9.00 to $27.00 in a report on Monday, October 21st. Finally, HC Wainwright raised their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Travere Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $24.00.

Hedge Funds Weigh In On Travere Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in TVTX. R Squared Ltd acquired a new stake in Travere Therapeutics in the 4th quarter valued at $53,000. CWM LLC boosted its position in shares of Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company's stock worth $70,000 after buying an additional 3,065 shares during the period. Quarry LP acquired a new stake in shares of Travere Therapeutics in the third quarter valued at about $105,000. Aigen Investment Management LP acquired a new stake in shares of Travere Therapeutics in the third quarter valued at about $170,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Travere Therapeutics during the 4th quarter valued at about $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.

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