Travere Therapeutics (NASDAQ:TVTX) Stock Price Down 4.6% on Insider Selling

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) shares traded down 4.6% during mid-day trading on Monday following insider selling activity. The stock traded as low as $20.28 and last traded at $20.75. 322,220 shares traded hands during trading, a decline of 76% from the average session volume of 1,317,635 shares. The stock had previously closed at $21.75.

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

Analyst Ratings Changes

Several analysts have weighed in on the company. Barclays lifted their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Canaccord Genuity Group increased their price objective on Travere Therapeutics from $22.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday. Cantor Fitzgerald initiated coverage on shares of Travere Therapeutics in a report on Friday, January 10th. They set an "overweight" rating on the stock. Piper Sandler lifted their price target on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Finally, Scotiabank boosted 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. One equities research analyst has rated the stock with a hold rating and thirteen have given 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 $27.77.

Travere Therapeutics Price Performance

The stock has a market capitalization of $1.85 billion, a PE ratio of -5.21 and a beta of 0.72. The stock's 50 day moving average price is $19.14 and its 200-day moving average price is $16.01. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Institutional Trading of Travere Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Aigen Investment Management LP bought a new position in shares of Travere Therapeutics during the 3rd quarter worth $170,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Travere Therapeutics during the third quarter worth $673,000. FMR LLC grew its holdings in shares of Travere Therapeutics by 27.5% during the third quarter. FMR LLC now owns 147,416 shares of the company's stock valued at $2,062,000 after buying an additional 31,772 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of Travere Therapeutics by 30.2% in the 3rd quarter. Two Sigma Advisers LP now owns 720,400 shares of the company's stock valued at $10,078,000 after acquiring an additional 167,100 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Travere Therapeutics by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company's stock valued at $24,222,000 after acquiring an additional 64,744 shares during the period.

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.