Travere Therapeutics (NASDAQ:TVTX) Insider Sells $223,426.72 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Jula Inrig sold 6,956 shares of Travere Therapeutics stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $32.12, for a total value of $223,426.72. Following the sale, the insider directly owned 107,485 shares in the company, valued at $3,452,418.20. This trade represents a 6.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Jula Inrig also recently made the following trade(s):

• On Tuesday, January 6th, Jula Inrig sold 445 shares of Travere Therapeutics stock. The stock was sold at an average price of $37.75, for a total value of $16,798.75.
• On Monday, January 5th, Jula Inrig sold 2,031 shares of Travere Therapeutics stock. The shares were sold at an average price of $40.18, for a total transaction of $81,605.58.
• On Wednesday, December 24th, Jula Inrig sold 15,000 shares of Travere Therapeutics stock. The shares were sold at an average price of $42.00, for a total transaction of $630,000.00.

Travere Therapeutics Price Performance

Shares of TVTX stock traded down $0.26 during mid-day trading on Tuesday, hitting $32.84. The company had a trading volume of 1,748,186 shares, compared to its average volume of 2,976,006. The company has a debt-to-equity ratio of 4.23, a current ratio of 2.75 and a quick ratio of 2.71. The stock’s 50 day moving average price is $34.11 and its 200-day moving average price is $27.76. Travere Therapeutics, Inc. has a 52-week low of $12.91 and a 52-week high of $42.13. The company has a market capitalization of $2.94 billion, a P/E ratio of -30.98, a P/E/G ratio of 1.01 and a beta of 0.83.

Institutional Investors Weigh In On Travere Therapeutics

Several institutional investors have recently modified their holdings of the stock. Stephens Investment Management Group LLC purchased a new position in shares of Travere Therapeutics in the 3rd quarter worth approximately $38,232,000. Wellington Management Group LLP raised its holdings in Travere Therapeutics by 3,331.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock valued at $28,715,000 after buying an additional 1,166,460 shares during the period. Frazier Life Sciences Management L.P. bought a new stake in Travere Therapeutics in the second quarter worth $14,831,000. Perceptive Advisors LLC purchased a new position in Travere Therapeutics during the second quarter worth $12,347,000. Finally, Marshall Wace LLP purchased a new position in Travere Therapeutics during the second quarter worth $10,992,000.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wall Street Zen raised Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 13th. HC Wainwright restated a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a report on Friday, November 28th. Citigroup lifted their price objective on Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Piper Sandler increased their target price on Travere Therapeutics from $26.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. Twelve investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.86.

Travere Therapeutics Company Profile

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.