Travere Therapeutics (NASDAQ:TVTX) Shares Down 5.4% – Time to Sell?

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) fell 5.4% on Friday . The stock traded as low as $27.97 and last traded at $27.7250. 190,670 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 2,425,504 shares. The stock had previously closed at $29.30.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TVTX shares. 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. Piper Sandler increased their price objective on shares of Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. TD Cowen restated a “buy” rating on shares of Travere Therapeutics in a report on Friday, October 31st. Finally, Citigroup lifted their target price on shares of Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Eleven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.62.

Travere Therapeutics Stock Up 1.2%

The company has a debt-to-equity ratio of 4.23, a quick ratio of 2.71 and a current ratio of 2.75. The company has a market capitalization of $2.65 billion, a PE ratio of -27.81, a price-to-earnings-growth ratio of 0.77 and a beta of 0.83. The company’s fifty day moving average is $32.77 and its 200-day moving average is $28.74.

Insider Activity at Travere Therapeutics

In related news, insider William E. Rote sold 60,000 shares of the company’s stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $40.10, for a total value of $2,406,000.00. Following the completion of the transaction, the insider owned 101,443 shares of the company’s stock, valued at approximately $4,067,864.30. This represents a 37.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Elizabeth E. Reed sold 10,000 shares of the stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $27.34, for a total value of $273,400.00. Following the completion of the sale, the insider owned 90,270 shares of the company’s stock, valued at $2,467,981.80. The trade was a 9.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 331,925 shares of company stock worth $11,318,755 in the last 90 days. Company insiders own 4.19% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Several hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in Travere Therapeutics in the 2nd quarter worth $33,000. First Horizon Corp purchased a new position in shares of Travere Therapeutics in the 3rd quarter worth approximately $36,000. State of Wyoming bought a new position in Travere Therapeutics during the fourth quarter valued at $37,000. Torren Management LLC purchased a new position in shares of Travere Therapeutics during the 4th quarter worth about $38,000. Finally, Comerica Bank raised its position in Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after purchasing an additional 492 shares during the period.

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.