Peter Heerma Sells 7,310 Shares of Travere Therapeutics (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Peter Heerma sold 7,310 shares of Travere Therapeutics stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $32.12, for a total value of $234,797.20. Following the completion of the transaction, the insider owned 131,823 shares of the company’s stock, valued at approximately $4,234,154.76. This trade represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Peter Heerma also recently made the following trade(s):

• On Wednesday, December 24th, Peter Heerma sold 4,980 shares of Travere Therapeutics stock. The stock was sold at an average price of $40.00, for a total value of $199,200.00.

Travere Therapeutics Price Performance

TVTX stock opened at $31.68 on Thursday. The business’s 50-day moving average is $34.02 and its two-hundred day moving average is $27.79. 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 firm has a market capitalization of $2.83 billion, a P/E ratio of -29.89, a P/E/G ratio of 1.00 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.

More Travere Therapeutics News

Here are the key news stories impacting Travere Therapeutics this week:

• Positive Sentiment: Bank of America Securities reaffirmed its Buy rating on Travere, which supports demand from institutional investors and may limit downside pressure. Bank of America Securities Sticks to Its Buy Rating for Travere Therapeutics (TVTX)
• Neutral Sentiment: Travere will present at the Guggenheim Emerging Outlook: Biotech Summit on Feb. 11 (live webcast/replay available). The event gives management a platform to update investors and could provide near-term catalysts if new data or guidance are disclosed. Travere Therapeutics to Present at the Guggenheim Emerging Outlook Biotech Summit
• Negative Sentiment: Heavy insider selling on Feb. 3 — including CEO Eric Dube (100,087 shares) and multiple senior officers (CFO, CAO and others) — represents a large, coordinated reduction in holdings that can trigger investor concern and short-term selling pressure. These SEC‑filed sales were disclosed in multiple Form 4s and media reports. Insider Selling: Travere Therapeutics (NASDAQ:TVTX) CAO Sells 4,333 Shares of Stock

Analyst Upgrades and Downgrades

TVTX has been the topic of a number of recent analyst reports. Citigroup increased their price objective 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. Piper Sandler increased their target price on Travere Therapeutics from $26.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Zacks Research cut Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. Finally, HC Wainwright reiterated a “buy” rating and issued a $47.00 price objective on shares of Travere Therapeutics in a report on Friday, November 28th. 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 stock. Based on data from MarketBeat.com, Travere Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $38.86.

Hedge Funds Weigh In On Travere Therapeutics

Several hedge funds have recently made changes to their positions in TVTX. Vanguard Group Inc. lifted its holdings in shares of Travere Therapeutics by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,613,368 shares of the company’s stock valued at $158,059,000 after purchasing an additional 619,085 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in Travere Therapeutics by 27.4% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company’s stock worth $41,203,000 after buying an additional 599,102 shares during the period. Emerald Advisers LLC lifted its stake in Travere Therapeutics by 2.6% in the third quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company’s stock valued at $51,308,000 after buying an additional 55,407 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Travere Therapeutics by 1.4% in the second quarter. Geode Capital Management LLC now owns 2,003,701 shares of the company’s stock valued at $29,658,000 after acquiring an additional 27,040 shares during the period. Finally, Stephens Investment Management Group LLC purchased a new position in shares of Travere Therapeutics during the third quarter worth approximately $38,232,000.

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.