Insider Selling: Travere Therapeutics (NASDAQ:TVTX) Insider Sells 2,031 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Jula Inrig sold 2,031 shares of Travere Therapeutics stock in a transaction on Monday, January 5th. The stock was sold at an average price of $40.18, for a total transaction of $81,605.58. Following the transaction, the insider directly owned 86,756 shares in the company, valued at $3,485,856.08. This represents a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Jula Inrig also recently made the following trade(s):

• On Tuesday, January 6th, Jula Inrig sold 445 shares of Travere Therapeutics stock. The shares were sold at an average price of $37.75, for a total transaction of $16,798.75.
• On Wednesday, December 24th, Jula Inrig sold 15,000 shares of Travere Therapeutics stock. The shares were sold at an average price of $42.00, for a total transaction of $630,000.00.

Travere Therapeutics Stock Up 1.3%

NASDAQ:TVTX traded up $0.48 on Wednesday, hitting $36.28. The stock had a trading volume of 2,675,649 shares, compared to its average volume of 2,537,312. The stock has a market cap of $3.25 billion, a P/E ratio of -34.23 and a beta of 0.85. The company has a debt-to-equity ratio of 4.23, a quick ratio of 2.71 and a current ratio of 2.75. The firm’s fifty day simple moving average is $35.49 and its two-hundred day simple moving average is $25.60. Travere Therapeutics, Inc. has a 1 year low of $12.91 and a 1 year high of $42.13.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.59. Travere Therapeutics had a negative return on equity of 178.68% and a negative net margin of 20.32%.The company had revenue of $164.86 million during the quarter, compared to the consensus estimate of $106.09 million. During the same period last year, the business posted ($0.70) earnings per share. Travere Therapeutics’s revenue was up 162.1% on a year-over-year basis. Analysts predict that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Institutional Trading of Travere Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of TVTX. Penn Capital Management Company LLC increased its holdings in shares of Travere Therapeutics by 39.7% in the third quarter. Penn Capital Management Company LLC now owns 27,004 shares of the company’s stock worth $645,000 after purchasing an additional 7,680 shares during the period. CIBC Bancorp USA Inc. purchased a new position in Travere Therapeutics during the third quarter worth about $225,000. PharVision Advisers LLC purchased a new stake in shares of Travere Therapeutics in the 3rd quarter valued at about $210,000. Voloridge Investment Management LLC raised its holdings in shares of Travere Therapeutics by 18.7% in the 3rd quarter. Voloridge Investment Management LLC now owns 883,672 shares of the company’s stock valued at $21,120,000 after acquiring an additional 139,018 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Travere Therapeutics by 113.7% during the 3rd quarter. Quarry LP now owns 14,960 shares of the company’s stock valued at $358,000 after acquiring an additional 7,960 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TVTX shares. Cowen reiterated a “buy” rating on shares of Travere Therapeutics in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, October 8th. Stifel Nicolaus increased their price objective on Travere Therapeutics from $20.00 to $25.00 and gave the company a “hold” rating in a report on Friday, September 12th. HC Wainwright restated a “buy” rating and issued a $47.00 target price on shares of Travere Therapeutics in a research note on Friday, November 28th. Finally, Zacks Research cut Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.71.

About Travere Therapeutics

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.