Travere Therapeutics (NASDAQ:TVTX) Stock Price Down 4% – Time to Sell?

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s share price traded down 4% on Friday . The company traded as low as $16.42 and last traded at $16.43. 1,570,302 shares traded hands during trading, an increase of 13% from the average session volume of 1,394,170 shares. The stock had previously closed at $17.11.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Leerink Partners reissued an “outperform” rating and issued a $20.00 price objective on shares of Travere Therapeutics in a research note on Tuesday. Piper Sandler boosted their price target on Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. HC Wainwright reduced their price objective on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Barclays boosted their target price on shares of Travere Therapeutics from $14.00 to $18.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Finally, Wedbush raised their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.75.

Travere Therapeutics Stock Down 4.1 %

The company has a market cap of $1.26 billion, a price-to-earnings ratio of -8.73 and a beta of 0.73. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. The stock’s fifty day moving average is $11.63 and its two-hundred day moving average is $8.90.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The company had revenue of $54.12 million during the quarter, compared to analysts’ expectations of $49.50 million. Sell-side analysts predict that Travere Therapeutics, Inc. will post -3.95 earnings per share for the current fiscal year.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the transaction, the senior vice president now directly owns 84,455 shares of the company’s stock, valued at $972,921.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $50,538.24. Following the completion of the sale, the senior vice president now owns 84,455 shares in the company, valued at approximately $972,921.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gary A. Lyons sold 40,000 shares of Travere Therapeutics stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $14.73, for a total transaction of $589,200.00. Following the transaction, the director now directly owns 51,000 shares in the company, valued at approximately $751,230. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 110,707 shares of company stock valued at $1,504,312. 3.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. EntryPoint Capital LLC purchased a new stake in shares of Travere Therapeutics during the 1st quarter valued at $32,000. CWM LLC increased its holdings in Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after buying an additional 3,065 shares during the last quarter. DRW Securities LLC bought a new stake in Travere Therapeutics in the second quarter worth about $95,000. Forefront Analytics LLC boosted its stake in Travere Therapeutics by 10.2% in the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after acquiring an additional 1,237 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Travere Therapeutics by 68.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock valued at $113,000 after acquiring an additional 5,962 shares during the period.

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.