Christopher Cline Sells 1,745 Shares of Travere Therapeutics (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Christopher Cline sold 1,745 shares of Travere Therapeutics stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $32.19, for a total transaction of $56,171.55. Following the completion of the sale, the chief financial officer directly owned 111,226 shares of the company’s stock, valued at approximately $3,580,364.94. This trade represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Travere Therapeutics Price Performance

TVTX stock opened at $29.71 on Friday. 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 company’s 50-day moving average is $33.76 and its 200-day moving average is $27.89. The stock has a market capitalization of $2.66 billion, a PE ratio of -28.03, a price-to-earnings-growth ratio of 0.82 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.

Analysts Set New Price Targets

Several research firms have recently commented on TVTX. TD Cowen restated a “buy” rating on shares of Travere Therapeutics in a report on Friday, October 31st. Piper Sandler lifted their price target on shares of Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday. Citigroup boosted their price target on shares of Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Guggenheim reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Finally, Wall Street Zen upgraded shares of Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 13th. Twelve analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.07.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in Travere Therapeutics during the 2nd quarter worth $33,000. First Horizon Corp purchased a new position in Travere Therapeutics in the third quarter valued at about $36,000. Torren Management LLC bought a new position in Travere Therapeutics during the fourth quarter valued at $38,000. Comerica Bank grew its stake in shares of Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after acquiring an additional 492 shares during the period. Finally, Garner Asset Management Corp bought a new position in Travere Therapeutics during the fourth quarter worth about $69,000.

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.