Travere Therapeutics (NASDAQ:TVTX) CEO Sells $3,230,808.36 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric Dube sold 100,087 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $32.28, for a total value of $3,230,808.36. Following the completion of the transaction, the chief executive officer owned 432,886 shares in the company, valued at $13,973,560.08. This represents a 18.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Travere Therapeutics Price Performance

TVTX stock opened at $29.47 on Friday. Travere Therapeutics, Inc. has a 52-week low of $12.91 and a 52-week high of $42.13. The company has a quick ratio of 2.71, a current ratio of 2.75 and a debt-to-equity ratio of 4.23. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of -27.80, a price-to-earnings-growth ratio of 0.88 and a beta of 0.83. The business has a fifty day moving average of $33.88 and a two-hundred day moving average of $27.80.

Institutional Trading of Travere Therapeutics

Hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in Travere Therapeutics during the 2nd quarter worth about $33,000. First Horizon Corp acquired a new position in shares of Travere Therapeutics during the third quarter worth about $36,000. Torren Management LLC purchased a new stake in shares of Travere Therapeutics during the fourth quarter worth approximately $38,000. Comerica Bank raised its holdings in Travere Therapeutics by 77.5% in the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after acquiring an additional 492 shares in the last quarter. Finally, Garner Asset Management Corp purchased a new position in Travere Therapeutics in the fourth quarter worth approximately $69,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TVTX shares. Citigroup lifted their price target on shares of Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. Wall Street Zen upgraded Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 13th. HC Wainwright reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Travere Therapeutics in a research note on Friday, November 28th. Finally, Zacks Research downgraded Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Twelve investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.86.

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.