William E. Rote Sells 8,951 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock

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

Travere Therapeutics Stock Performance

Travere Therapeutics stock opened at $21.86 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The stock has a 50 day moving average of $18.80 and a 200-day moving average of $15.56. The stock has a market cap of $1.71 billion, a P/E ratio of -4.80 and a beta of 0.72. Travere Therapeutics, Inc. has a 52 week low of $5.12 and a 52 week high of $22.13.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC acquired a new stake in shares of Travere Therapeutics in the 4th quarter valued at about $14,222,000. abrdn plc bought a new stake in Travere Therapeutics in the fourth quarter valued at about $6,829,000. Emerald Advisers LLC raised its stake in Travere Therapeutics by 19.8% during the third quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock valued at $27,430,000 after buying an additional 323,513 shares in the last quarter. Impax Asset Management Group plc bought a new position in Travere Therapeutics during the 4th quarter worth approximately $5,226,000. Finally, Emerald Mutual Fund Advisers Trust grew its position in shares of Travere Therapeutics by 26.0% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company’s stock worth $16,588,000 after acquiring an additional 244,444 shares in the last quarter.

Analyst Ratings Changes

TVTX has been the topic of several research reports. Scotiabank raised their price target on shares of Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. Barclays lifted their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Wells Fargo & Company upgraded Travere Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $9.00 to $27.00 in a report on Monday, October 21st. Piper Sandler boosted their price objective on Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, Cantor Fitzgerald began coverage on Travere Therapeutics in a research note on Friday, January 10th. They issued an “overweight” rating for the company. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Travere Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $24.00.

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.