Insider Selling: Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Sells 10,736 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric M. Dube sold 10,736 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total value of $208,922.56. Following the completion of the sale, the chief executive officer now directly owns 351,239 shares in the company, valued at approximately $6,835,110.94. This represents a 2.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Travere Therapeutics Stock Performance

NASDAQ TVTX opened at $20.81 on Friday. The firm has a 50-day moving average of $18.28 and a 200-day moving average of $14.79. The stock has a market cap of $1.62 billion, a PE ratio of -4.57 and a beta of 0.70. Travere Therapeutics, Inc. has a 52-week low of $5.12 and a 52-week high of $20.89. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.01. The company had revenue of $62.90 million for the quarter, compared to analysts’ expectations of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The business’s revenue for the quarter was up 69.6% on a year-over-year basis. During the same period last year, the firm earned ($1.17) earnings per share. On average, sell-side analysts anticipate that Travere Therapeutics, Inc. will post -3.92 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TVTX shares. Canaccord Genuity Group lowered their target price on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Barclays boosted their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. HC Wainwright increased their price target on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Scotiabank boosted their price objective on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. Finally, Guggenheim upped their price objective on shares of Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Baader Bank Aktiengesellschaft bought a new stake in Travere Therapeutics in the fourth quarter valued at approximately $192,000. R Squared Ltd bought a new position in shares of Travere Therapeutics in the 4th quarter worth $53,000. Diversified Trust Co grew its holdings in shares of Travere Therapeutics by 27.5% during the fourth quarter. Diversified Trust Co now owns 14,701 shares of the company’s stock valued at $256,000 after buying an additional 3,169 shares during the last quarter. Virtu Financial LLC purchased a new stake in Travere Therapeutics in the 3rd quarter valued at $301,000. Finally, Geode Capital Management LLC lifted its position in shares of Travere Therapeutics by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock worth $24,222,000 after buying an additional 64,744 shares in the last quarter.

About Travere Therapeutics

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.