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

Travere Therapeutics, Inc. (NASDAQ:TVTX) was down 4.6% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $20.28 and last traded at $20.75. Approximately 322,220 shares traded hands during trading, a decline of 76% from the average daily volume of 1,317,635 shares. The stock had previously closed at $21.75.

Specifically, Director Roy D. Baynes sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $220,000.00. Following the transaction, the director now directly owns 31,000 shares of the company’s stock, valued at approximately $682,000. This trade represents a 24.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction, the chief accounting officer now directly owns 63,654 shares in the company, valued at approximately $1,280,718.48. This trade represents a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CFO Christopher R. Cline sold 5,192 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $20.12, for a total transaction of $104,463.04. Following the transaction, the chief financial officer now directly owns 90,038 shares of the company’s stock, valued at approximately $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 can be accessed through this link.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barclays raised their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Scotiabank increased their price objective on shares of Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Wednesday. Evercore ISI increased their price objective on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday. HC Wainwright increased their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Finally, Piper Sandler increased their price objective on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $27.77.

Travere Therapeutics Trading Down 2.3 %

The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -5.10 and a beta of 0.72. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The company’s 50 day simple moving average is $18.98 and its two-hundred day simple moving average is $15.90.

Institutional Investors Weigh In On Travere Therapeutics

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Travere Therapeutics by 6.4% in the fourth quarter. Geode Capital Management LLC now owns 1,842,301 shares of the company’s stock valued at $32,100,000 after acquiring an additional 111,256 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth $631,000. Wellington Management Group LLP acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth $583,000. Norges Bank acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth $1,237,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Travere Therapeutics during the fourth quarter worth $359,000.

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.