Travere Therapeutics, Inc. (NASDAQ:TVTX) SVP Sells $177,050.78 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) SVP William E. Rote sold 8,951 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $19.78, for a total value of $177,050.78. Following the sale, the senior vice president now directly owns 95,719 shares of the company’s stock, valued at approximately $1,893,321.82. This represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Travere Therapeutics Price Performance

TVTX opened at $21.21 on Thursday. The stock has a fifty day moving average price of $18.74 and a 200 day moving average price of $15.51. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $21.86. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -4.66 and a beta of 0.72.

Analysts Set New Price Targets

TVTX has been the topic of several recent analyst reports. Piper Sandler boosted their price objective on Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Guggenheim upped their price target on shares of Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald started coverage on shares of Travere Therapeutics in a research note on Friday, January 10th. They issued an “overweight” rating for the company. Bank of America boosted their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, HC Wainwright raised their target price on Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Institutional Investors Weigh In On Travere Therapeutics

Several institutional investors have recently made changes to their positions in TVTX. Jennison Associates LLC bought a new position in Travere Therapeutics during the fourth quarter valued at approximately $14,222,000. abrdn plc acquired a new position in shares of Travere Therapeutics during the 4th quarter worth $6,829,000. Emerald Advisers LLC raised its holdings 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 valued at $27,430,000 after purchasing an additional 323,513 shares in the last quarter. Impax Asset Management Group plc acquired a new stake in shares of Travere Therapeutics in the 4th quarter valued at $5,226,000. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in Travere Therapeutics by 26.0% in 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 in 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.