Travere Therapeutics (NASDAQ:TVTX) Insider Elizabeth Reed Sells 10,000 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Elizabeth Reed sold 10,000 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $28.09, for a total transaction of $280,900.00. Following the completion of the transaction, the insider owned 105,211 shares in the company, valued at $2,955,376.99. The trade was a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Travere Therapeutics Price Performance

TVTX stock opened at $26.96 on Thursday. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of -89.86 and a beta of 0.81. The company has a quick ratio of 2.70, a current ratio of 2.74 and a debt-to-equity ratio of 2.71. Travere Therapeutics, Inc. has a 52-week low of $12.91 and a 52-week high of $42.13. The business has a fifty day moving average of $29.61 and a two-hundred day moving average of $30.31.

Hedge Funds Weigh In On Travere Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Emerald Advisers LLC boosted its holdings 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 purchasing an additional 55,407 shares during the period. Essex Investment Management Co. LLC purchased a new stake in Travere Therapeutics during the 3rd quarter worth about $3,872,000. Capital Fund Management S.A. acquired a new stake in Travere Therapeutics in the 2nd quarter valued at about $1,501,000. Voya Investment Management LLC boosted its stake in shares of Travere Therapeutics by 16.2% in the 3rd quarter. Voya Investment Management LLC now owns 194,854 shares of the company’s stock valued at $4,657,000 after buying an additional 27,133 shares during the period. Finally, Lisanti Capital Growth LLC acquired a new position in shares of Travere Therapeutics during the third quarter worth about $3,095,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TVTX shares. Wall Street Zen cut shares of Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Guggenheim restated a “buy” rating and set a $49.00 price target on shares of Travere Therapeutics in a research report on Wednesday, January 14th. Piper Sandler lifted their price objective on Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. 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. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $38.17.

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.