William Rote Sells 12,446 Shares of Travere Therapeutics (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider William Rote sold 12,446 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $32.87, for a total transaction of $409,100.02. Following the sale, the insider directly owned 109,087 shares of the company’s stock, valued at approximately $3,585,689.69. This trade represents a 10.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Travere Therapeutics Stock Down 0.8%

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

Hedge Funds Weigh In On Travere Therapeutics

Large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Travere Therapeutics by 13.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,777 shares of the company’s stock worth $1,029,000 after acquiring an additional 6,831 shares during the last quarter. KLP Kapitalforvaltning AS lifted its position in shares of Travere Therapeutics by 30.0% during the second quarter. KLP Kapitalforvaltning AS now owns 19,500 shares of the company’s stock valued at $289,000 after purchasing an additional 4,500 shares in the last quarter. Aberdeen Group plc boosted its holdings in Travere Therapeutics by 86.6% during the second quarter. Aberdeen Group plc now owns 896,594 shares of the company’s stock worth $13,270,000 after purchasing an additional 416,225 shares during the last quarter. AlphaQuest LLC boosted its holdings in Travere Therapeutics by 881.6% during the second quarter. AlphaQuest LLC now owns 35,250 shares of the company’s stock worth $522,000 after purchasing an additional 31,659 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in Travere Therapeutics by 343.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 68,000 shares of the company’s stock worth $1,006,000 after purchasing an additional 52,675 shares in the last quarter.

Analysts Set New Price Targets

TVTX has been the topic of a number of research reports. TD Cowen reaffirmed a “buy” rating on shares of Travere Therapeutics in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, January 21st. Wall Street Zen upgraded Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 13th. Zacks Research lowered shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, HC Wainwright restated a “buy” rating and set a $47.00 price objective on shares of Travere Therapeutics in a report on Friday, November 28th. Twelve equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company 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.