Travere Therapeutics Target of Unusually High Options Trading (NASDAQ:TVTX)

Travere Therapeutics, Inc. (NASDAQ:TVTX) was the recipient of some unusual options trading activity on Friday. Traders purchased 2,582 call options on the stock. This is an increase of 351% compared to the typical daily volume of 572 call options.

Insider Activity at Travere Therapeutics

In other news, SVP William E. Rote sold 4,387 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the transaction, the senior vice president now owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP William E. Rote sold 4,387 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $50,538.24. Following the completion of the sale, the senior vice president now directly owns 84,455 shares in the company, valued at approximately $972,921.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jula Inrig sold 2,191 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $25,240.32. Following the sale, the insider now directly owns 62,633 shares in the company, valued at approximately $721,532.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,707 shares of company stock valued at $915,112 over the last ninety days. Corporate insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. EntryPoint Capital LLC acquired a new position in shares of Travere Therapeutics during the first quarter valued at approximately $32,000. DRW Securities LLC bought a new stake in shares of Travere Therapeutics in the 2nd quarter worth $95,000. Forefront Analytics LLC lifted its holdings in shares of Travere Therapeutics by 10.2% in the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after buying an additional 1,237 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Travere Therapeutics by 68.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock valued at $113,000 after buying an additional 5,962 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in Travere Therapeutics during the second quarter worth about $117,000.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TVTX shares. HC Wainwright lowered their price objective on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Barclays lifted their target price on Travere Therapeutics from $14.00 to $18.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. increased their price target on Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Bank of America reduced their price objective on Travere Therapeutics from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Finally, Canaccord Genuity Group dropped their target price on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.09.

Travere Therapeutics Trading Up 11.6 %

Shares of Travere Therapeutics stock opened at $15.23 on Friday. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a 1-year low of $5.12 and a 1-year high of $15.46. The business’s fifty day moving average price is $11.10 and its two-hundred day moving average price is $8.67.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). The company had revenue of $54.12 million for the quarter, compared to the consensus estimate of $49.50 million. Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. As a group, equities research analysts anticipate that Travere Therapeutics will post -3.95 EPS for the current fiscal year.

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.