Travere Therapeutics (NASDAQ:TVTX) Insider Sells $280,900.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Elizabeth Reed sold 10,000 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $28.09, for a total value of $280,900.00. Following the sale, the insider owned 105,211 shares of the company’s stock, valued at approximately $2,955,376.99. This represents a 8.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Travere Therapeutics Stock Down 2.9%

Shares of Travere Therapeutics stock traded down $0.80 during trading on Wednesday, reaching $26.96. The company’s stock had a trading volume of 1,102,817 shares, compared to its average volume of 2,042,282. Travere Therapeutics, Inc. has a 1-year low of $12.91 and a 1-year high of $42.13. The company has a 50-day simple moving average of $29.79 and a two-hundred day simple moving average of $30.33. The company has a quick ratio of 2.70, a current ratio of 2.74 and a debt-to-equity ratio of 2.71. The company has a market cap of $2.49 billion, a price-to-earnings ratio of -89.86 and a beta of 0.81.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Guggenheim restated a “buy” rating and set a $49.00 price target on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Wall Street Zen lowered shares of Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. HC Wainwright reiterated a “buy” rating and issued a $47.00 target price on shares of Travere Therapeutics in a research note on Friday, November 28th. Piper Sandler boosted their target price on shares of Travere Therapeutics from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.17.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Stephens Investment Management Group LLC purchased a new stake in Travere Therapeutics in the third quarter valued at approximately $38,232,000. State Street Corp raised its position in Travere Therapeutics by 47.8% during the 4th quarter. State Street Corp now owns 4,756,666 shares of the company’s stock worth $181,752,000 after buying an additional 1,538,827 shares during the last quarter. Wellington Management Group LLP lifted its position in Travere Therapeutics by 3,331.9% during the third quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock valued at $28,715,000 after purchasing an additional 1,166,460 shares during the period. Frazier Life Sciences Management L.P. purchased a new stake in Travere Therapeutics in the second quarter valued at $14,831,000. Finally, Fiera Capital Corp purchased a new stake in Travere Therapeutics in the fourth quarter valued at $33,398,000.

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.