Travere Therapeutics (NASDAQ:TVTX) Shares Down 4.6% on Insider Selling

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s share price dropped 4.6% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $20.28 and last traded at $20.75. Approximately 322,220 shares were traded during trading, a decline of 76% from the average daily volume of 1,317,635 shares. The stock had previously closed at $21.75.

Specifically, Director Roy D. Baynes sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $220,000.00. Following the sale, the director now directly owns 31,000 shares in the company, valued at $682,000. This trade represents a 24.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sandra Calvin sold 3,348 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $20.12, for a total value of $67,361.76. Following the sale, the chief accounting officer now owns 63,654 shares in the company, valued at $1,280,718.48. This trade represents a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CFO Christopher R. Cline sold 5,192 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $20.12, for a total transaction of $104,463.04. Following the sale, the chief financial officer now directly owns 90,038 shares in the company, valued at $1,811,564.56. This trade represents a 5.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TVTX shares. Wells Fargo & Company upgraded Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $9.00 to $27.00 in a report on Monday, October 21st. HC Wainwright lifted their price objective on Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Canaccord Genuity Group lifted their price objective on Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Sandler lifted their price objective on Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Finally, Scotiabank lifted their price objective on Travere Therapeutics from $27.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.77.

Travere Therapeutics Trading Down 2.3 %

The stock has a market cap of $1.81 billion, a PE ratio of -5.10 and a beta of 0.72. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The company’s 50-day moving average price is $18.98 and its 200 day moving average price is $15.90.

Institutional Trading of Travere Therapeutics

Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of Travere Therapeutics by 6.4% during the 4th quarter. Geode Capital Management LLC now owns 1,842,301 shares of the company’s stock valued at $32,100,000 after buying an additional 111,256 shares during the period. Franklin Resources Inc. purchased a new stake in Travere Therapeutics in the fourth quarter valued at approximately $631,000. Wellington Management Group LLP purchased a new stake in Travere Therapeutics in the fourth quarter valued at approximately $583,000. Norges Bank purchased a new stake in Travere Therapeutics in the fourth quarter valued at approximately $1,237,000. Finally, EntryPoint Capital LLC purchased a new stake in Travere Therapeutics in the fourth quarter valued at approximately $359,000.

Travere Therapeutics Company Profile

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.